Linear test

Nonlinear test

Lags

ADF

t-Stat

PP

Adj. t-Stat

KPSS

Adj. t-Stat

KSS

t-Stat

5

−7.2758***

−16.3478***

0.0260

−5.01902***

10

−6.2166***

−16.5218***

0.0344

−2.08615**

20

−3.9557***

−17.5037***

0.0555

0.08891