Table 2. Result of unit root test ADF... | Emerald Publishing

Table 2.

Result of unit root test

	ADF test (at level)		PP test (at level)
Variables	p-value	H0	p-value	H0
LNBSE	0.9924	Accepted	0.9924	Accepted
LNEXCHANGE_RATE	0.9445	Accepted	0.9738	Accepted
LNCRUDE_OIL	0.8295	Accepted	0.8841	Accepted
	ADF test (at first difference)		PP test (at first difference)
LNBSE	0.0002	Rejected	0.0001	Rejected
LNEXCHANGE_RATE	0.0000	Rejected	0.0000	Rejected
LNCRUDE_OIL	0.0001	Rejected	0.0001	Rejected

	ADF test (at level)		PP test (at level)
Variables	p-value	H0	p-value	H0
LNBSE	0.9924	Accepted	0.9924	Accepted
LNEXCHANGE_RATE	0.9445	Accepted	0.9738	Accepted
LNCRUDE_OIL	0.8295	Accepted	0.8841	Accepted
	ADF test (at first difference)		PP test (at first difference)
LNBSE	0.0002	Rejected	0.0001	Rejected
LNEXCHANGE_RATE	0.0000	Rejected	0.0000	Rejected
LNCRUDE_OIL	0.0001	Rejected	0.0001	Rejected

Source(s): Authors’ calculation