Variables | ADF Test | PP Test | Remark | Zivot-Andrew Test | ||||
Levels | 1st Diff. | Levels | 1st Diff. | Break | t-statistics | Remark | ||
lnpob1 | −0.3698 | −4.7006*** | −1.8738 | −11.845*** | I(1) | 1990 | −6.6202*** | I(1) |
lnpob2 | −1.5462 | −5.8752*** | −2.0031 | −6.3750*** | I(1) | 2007 | −6.3756*** | I(1) |
lntl | −3.8359** | - | −4.0389** | - | I(0) | 2005 | −3.6873*** | I(0) |
lntrd | −2.9837 | −5.6873*** | −2.9264 | −5.6577*** | I(1) | 1989 | −6.8571*** | I(1) |
inc | −2.2322 | −4.1618** | −3.8041** | −4.1618*** | I(1) | 2002 | −4.7068*** | I(1) |
int | −3.3383 | −8.7476*** | −3.2569* | −8.8767*** | I(1) | 1994 | −9.6249*** | I(1) |
inf | −3.8107** | - | −3.5704** | - | I(0) | 1996 | −7.3048*** | I(0) |