Table 2 The results of panel unit root... | Emerald Publishing

Table 2

The results of panel unit root tests

	LLC t-Statistics		IPS W-Statistics		ADF - Fisher Chi-square
	Level	First difference	Level	First difference	Level	First difference
Low-income SSA countries
EXP	−0.86612	−11.4343***	−1.61785	−14.3055***	34.6601	102.194***
y/N	−2.06611	−6.28614***	1.26895	−11.7463***	27.7939	126.990***
DEBT	−1.91001	−8.13716***	−0.13487	−10.2718***	25.4644	77.5907***
Middle-income SSA countries
EXP	−0.48707	−11.9829***	−0.84128	−19.0471***	45.3722	284.127***
y/N	4.20445	−7.10078***	0.80286	−13.0152***	49.2910	219.670***
DEBT	0.80859	−8.53214***	1.11868	−15.2553***	20.8375	235.867***

	LLC t-Statistics		IPS W-Statistics		ADF - Fisher Chi-square
	Level	First difference	Level	First difference	Level	First difference
Low-income SSA countries
EXP	−0.86612	−11.4343***	−1.61785	−14.3055***	34.6601	102.194***
y/N	−2.06611	−6.28614***	1.26895	−11.7463***	27.7939	126.990***
DEBT	−1.91001	−8.13716***	−0.13487	−10.2718***	25.4644	77.5907***
Middle-income SSA countries
EXP	−0.48707	−11.9829***	−0.84128	−19.0471***	45.3722	284.127***
y/N	4.20445	−7.10078***	0.80286	−13.0152***	49.2910	219.670***
DEBT	0.80859	−8.53214***	1.11868	−15.2553***	20.8375	235.867***

Note(s): *, ** and*** indicate rejection of the respective null hypothesis at the 10%, 5% and 1% significance levels, respectively