CIPS-based panel unit root tests statistics
| Level variables | Constant and trend | |||
|---|---|---|---|---|
| Lags | ||||
| 0 | 1 | 2 | 3 | |
| Lpsdp | −3.181*** (0.000) | −2.617 (0.111) | −2.512 (0.225) | −2.497 (0.245) |
| Lhe | −3.036*** (0.001) | −2.956*** (0.003) | −2.640* (0.094) | −2.899** (0.007) |
| Ur | −2.159 (0.787) | −1.295 (1.000) | −2.586 (0.140) | −2.723** (0.046) |
| Lfpr | −1.774 (0.994) | −1.818 (0.989) | −2.007 (0.928) | −2.486 (0.261) |
| Ldebt | −1.982 (0.943) | −2.144 (0.806) | −2.204 (0.726) | −2.437 (0.335) |
| Popgr | −1.681 (0.998) | −1.701 (0.998) | −1.725 (0.997) | −1.757 (0.995) |
| Fger | −2.390 (0.413) | −2.212 (0.714) | −1.824 (0.988) | −1.905 (0.972) |
| Variables in first difference | ||||
| Lpsdp | −6.324*** (0.000) | −4.873*** (0.000) | −3.555*** (0.000) | −3.014*** (0.002) |
| Lhe | −6.119*** (0.000) | −4.896*** (0.000) | −3.671*** (0.000) | −3.309*** (0.000) |
| Ur | −5.570*** (0.000) | −2.628 (0.103) | −2.248 (0.658) | −2.457 (0.304) |
| Lfpr | −4.678*** (0.000) | −3.177*** (0.000) | −1.975 (0.946) | −2.042 (0.905) |
| Ldebt | −5.089*** (0.000) | −3.791*** (0.000) | −2.910** (0.006) | −2.571 (0.154) |
| Popgr | −6.012*** (0.000) | −4.113*** (0.000) | −3.245*** (0.000) | −2.715** (0.050) |
| Fger | −5.945*** (0.000) | −4.786*** (0.000) | −3.472*** (0.000) | −3.186*** (0.000) |
| Level variables | Constant and trend | |||
|---|---|---|---|---|
| Lags | ||||
| 0 | 1 | 2 | 3 | |
| −3.181*** (0.000) | −2.617 (0.111) | −2.512 (0.225) | −2.497 (0.245) | |
| −3.036*** (0.001) | −2.956*** (0.003) | −2.640* (0.094) | −2.899** (0.007) | |
| −2.159 (0.787) | −1.295 (1.000) | −2.586 (0.140) | −2.723** (0.046) | |
| −1.774 (0.994) | −1.818 (0.989) | −2.007 (0.928) | −2.486 (0.261) | |
| −1.982 (0.943) | −2.144 (0.806) | −2.204 (0.726) | −2.437 (0.335) | |
| −1.681 (0.998) | −1.701 (0.998) | −1.725 (0.997) | −1.757 (0.995) | |
| −2.390 (0.413) | −2.212 (0.714) | −1.824 (0.988) | −1.905 (0.972) | |
| −6.324*** (0.000) | −4.873*** (0.000) | −3.555*** (0.000) | −3.014*** (0.002) | |
| −6.119*** (0.000) | −4.896*** (0.000) | −3.671*** (0.000) | −3.309*** (0.000) | |
| −5.570*** (0.000) | −2.628 (0.103) | −2.248 (0.658) | −2.457 (0.304) | |
| −4.678*** (0.000) | −3.177*** (0.000) | −1.975 (0.946) | −2.042 (0.905) | |
| −5.089*** (0.000) | −3.791*** (0.000) | −2.910** (0.006) | −2.571 (0.154) | |
| −6.012*** (0.000) | −4.113*** (0.000) | −3.245*** (0.000) | −2.715** (0.050) | |
| −5.945*** (0.000) | −4.786*** (0.000) | −3.472*** (0.000) | −3.186*** (0.000) | |
Note(s): Parenthesis is used to report p-values. 1%, 5% and 10% of rejections are denoted by the symbols ***, ** and * respectively
Sharing content requires targeting cookies to be enabled. Please update your cookie preferences to use this feature.