ADF unit root tests
| Variables | Intercept | Trend and intercept | None | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Level | First diff | Order of integration | Level | First diff | Order of integration | Level | First diff | Order of integration | |
| WER | −2.013 | −1.991 | I(1) | −3.088 | −3.041 | >I(1) | −0.519 | −2.189** | I(1) |
| (0.279) | (0.288) | (0.130) | (0.144) | (0.5442) | (0.031) | ||||
| SHWNP | −5.796*** | −8.378*** | I(0) | −5.666 | −8.246 | I(1) | 0.238 | −8.542*** | I(1) |
| (0.0001) | (0.000) | (0.0006) | (0.000) | (0.746) | (0.000) | ||||
| GDPGROWTH | −1.950 | −6.762*** | I(1) | −2.189 | −6.618* | I(1) | −0.316 | −6.923*** | I(1) |
| (0.305) | (0.000) | (0.474) | (0.0001) | (0.561) | (0.000) | ||||
| Variables | Intercept | Trend and intercept | None | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Level | First diff | Order of integration | Level | First diff | Order of integration | Level | First diff | Order of integration | |
| WER | −2.013 | −1.991 | I(1) | −3.088 | −3.041 | >I(1) | −0.519 | −2.189** | I(1) |
| (0.279) | (0.288) | (0.130) | (0.144) | (0.5442) | (0.031) | ||||
| SHWNP | −5.796*** | −8.378*** | I(0) | −5.666 | −8.246 | I(1) | 0.238 | −8.542*** | I(1) |
| (0.0001) | (0.000) | (0.0006) | (0.000) | (0.746) | (0.000) | ||||
| GDPGROWTH | −1.950 | −6.762*** | I(1) | −2.189 | −6.618* | I(1) | −0.316 | −6.923*** | I(1) |
| (0.305) | (0.000) | (0.474) | (0.0001) | (0.561) | (0.000) | ||||
Note(s): (1) *, **, *** denote statistically significant at the 10%, 5 and 1% levels, respectively
p-value is inside brackets
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