Statistical methods

Statistic

Statistics

Perpdroni

Panel v-Statistic

2.073606 (0.0191)**

Panel rho-Statistic

−0.588827 (0.2780)**

Panel PP-Statistic

−4.933536 (0.0000)**

Panel ADF-Statistic

−4.473958 (0.0000)**

Group rho-Statistic

1.883452 (0.9702)**

Group PP-Statistic

−6.469837 (0.0000)**

Group ADF-Statistic

−7.932487 (0.0000)**

Kao

ADF

−3.521499 (0.0002)**

Hypothesized No. of CE(s)

Fisher Stat.*from tracetest)

Fisher Stat.* (from max-eigentest)

None

448.2(0.0000)

422.5 (0.0000)**

At most 1

136.1(0.0000)

136.1 (0.0000)**