Linear test

Nonlinear test

Lags

ADF

t-Stat

PP

Adj. t-Stat

KPSS

Adj. t-Stat

KSS

t-Stat

5

−7.8239***

−14.1032***

0.0186

−2.6931***

10

−5.3143***

−14.0209***

0.0254

0.3998

20

−4.6522***

−14.4616***

0.0414

2.3383**