Alternative hypothesis: common AR coefficients (within-dimension)

Weighted

Statistic

Prob.

Statistic

Prob.

Panel v-Statistic

−0.157967

0.5628

−0.697279

0.7572

Panel rho-Statistic

2.733561

0.9969

2.597393

0.9953

Panel PP-Statistic

−3.479296

0.0003

−4.687421

0.0000

Panel ADF-Statistic

−2.479796

0.0066

−2.769241

0.0028

Alternative hypothesis: individual AR coefficients (between-dimension)

Statistic

Prob.

Group rho-Statistic

3.405892

0.9997

Group PP-Statistic

−8.505508

0.0000

Group ADF-Statistic

−3.493142

0.0002