Table 2 Unit root test results...

Table 2

Unit root test results

Phillips–Perron (PP) unit root test
Variables	Level I(0)	First difference I(1)
TARR	−1.779	−10.063***
TREC	−2.078	−10.296***
ICT	−7.831***	−11.552***
FIND	−2.744*	−10.109***
ECG	−2.724*	−10.086***
INFR	−2.383	−10.002***

Phillips–Perron (PP) unit root test
Variables	Level I(0)	First difference I(1)
TARR	−1.779	−10.063***
TREC	−2.078	−10.296***
ICT	−7.831***	−11.552***
FIND	−2.744*	−10.109***
ECG	−2.724*	−10.086***
INFR	−2.383	−10.002***

Note(s): * and *** denote stationary at 10% and 1% significance level

Source(s): Authors’ own computation

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