Table 1. Ng–Perron tests for unit roots...

Table 1.

Ng–Perron tests for unit roots

	MZ_α	MZ_t	MSB	MP_T
A) I(2) vs I(1)
ΔLY	−8.808^b	−1.897^c	0.215^b	3.527^c
ΔLK	−9.064^b	−1.952^c	0.215^b	3.364^c
ΔLN	−9.176^b	−2.074^b	0.226^b	2.930^b
ΔLH	−8.347^b	−1.923^c	0.230^b	3.381^c
ΔLFK	−2.803	−1.089	0.388	8.450
B) I(1) vs I(0)
LY	−0.128	−0.076	0.594	23.56
LK	−1.669	−0.673	0.403	11.11
LN	−6.307	−1.657	0.263	4.269
LH	−2.001	−0.786	0.393	10.19
LFK	1.104	0.946	0.857	53.94

Notes:

^band ^cdenote significance at the 5% and 10% levels, respectively. The critical values are taken from Ng and Perron (2001)

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