Variables | Deterministic terms | IPS statistic | ADF Fisher statistic |
Levels |
|
|
|
(Aid/GDP)it | Constant | −2.51302 | 111.603 |
(AGR/GDP)it | Constant | 3.77751 | 88.1204 |
(TPR/GDP)it | Constant | −114.884 | 144.765 |
(HUM/GDP)it | Constant | 0.16035 | 137.521 |
(EDU/GDP)it | Constant | 2.13143 | 73.1593 |
First differences |
|
|
|
Δ(Aid/GDP)it | Constant | −13.0403* | 293.747* |
Δ(AGR/GDP)it | Constant | −2.19512* | 194.380* |
Δ(TPR/GDP)it | Constant | −120.375* | 180.313* |
Δ(HUM/GDP)it | Constant | −3.00551* | 187.147* |
Δ(EDU/GDP)it | Constant | −11.2402* | 103.301* |