Results of unit root testing with structural breaks
| Levels | First difference | |
|---|---|---|
| Full | −5.34* | −46.70* |
| Phase II | −4.36 | −29.76* |
| Phase III | −3.10 | −28.82* |
| Levels | First difference | |
|---|---|---|
| Full | −5.34* | −46.70* |
| Phase II | −4.36 | −29.76* |
| Phase III | −3.10 | −28.82* |
Notes: In this table, we apply the ADF test accounting for structural break points. The test is applied to both full and subsamples. *Coefficient is statistically significant at the 1 percent level
Sharing content requires targeting cookies to be enabled. Please update your cookie preferences to use this feature.