Table 2 Panel unit root tests Maddala... | Emerald Publishing

Table 2

Panel unit root tests

		Maddala and Wu (1999) panel unit root test (MW)		Pesaran (2007) panel unit root test (CIPS)
	Specification	Without trend	With trend	Without trend	With trend
Variable	Lags	chi_sq	chi_sq	Zt-bar	Zt-bar
lnF	0	90.097*	111.06***	−6.429***	−4.56***
lnK	0	116.869***	136.42***	−4.351***	−3.03***
lnC	0	123.681***	96.36*	−1.4450	−1.64*
lnI	0	394.289***	388.69***	−14.537***	−11.94***
lnO	0	134.003***	129.01***	−2.459**	−1.330
lnG	0	44.617*	132.52***	0.2000*	1.460
lnM	1	182.821***	145.06***	−2.903***	1.760
lnY	1	145.226***	192.5***	−2.48***	2.180

		Maddala and Wu (1999) panel unit root test (MW)		Pesaran (2007) panel unit root test (CIPS)
	Specification	Without trend	With trend	Without trend	With trend
Variable	Lags	chi_sq	chi_sq	Zt-bar	Zt-bar
lnF	0	90.097*	111.06***	−6.429***	−4.56***
lnK	0	116.869***	136.42***	−4.351***	−3.03***
lnC	0	123.681***	96.36*	−1.4450	−1.64*
lnI	0	394.289***	388.69***	−14.537***	−11.94***
lnO	0	134.003***	129.01***	−2.459**	−1.330
lnG	0	44.617*	132.52***	0.2000*	1.460
lnM	1	182.821***	145.06***	−2.903***	1.760
lnY	1	145.226***	192.5***	−2.48***	2.180

Note(s): Under the null hypothesis of series are non-stationary

Source(s): Table by author