Test for the order of integration (ADF and Phillips–Perron): first difference with (intercept and trend)
| VAR | ADF | PV | Lag | IO | PP | PV | BW | IO |
|---|---|---|---|---|---|---|---|---|
| D(LFDI) | −7.9991 | (0.0000)*** | [2] | I(1) | −8.0695 | (0.0000)*** | [4] | I(1) |
| D(INF) | −4.1483 | (0.0077)** | [5] | I(1) | −4.1483 | (0.0000)*** | [4] | I(1) |
| D(INT) | −10.068 | (0.0000)*** | [0] | I(1) | −10.065 | (0.0000)*** | [1] | I(1) |
| D(LNEXR) | −6.0434 | (0.0000)*** | [2] | I(1) | −5.8451 | (0.0035)*** | [4] | I(1) |
| D(LNGDP) | −8.1328 | (0.0000)*** | [0] | I(1) | −8.1884 | (0.0000)*** | [4] | I(1) |
| D(LNECP) | −5.7627 | (0.0000)*** | [5] | I(1) | −14.948 | (0.0000)*** | [4] | I(1) |
| D(TU) | −8.1328 | (0.0000)*** | [0] | I(1) | −8.1884 | (0.0000)*** | [4] | I(1) |
| VAR | ADF | PV | Lag | IO | PP | PV | BW | IO |
|---|---|---|---|---|---|---|---|---|
| D(LFDI) | −7.9991 | (0.0000)*** | [2] | I(1) | −8.0695 | (0.0000)*** | [4] | I(1) |
| D(INF) | −4.1483 | (0.0077)** | [5] | I(1) | −4.1483 | (0.0000)*** | [4] | I(1) |
| D(INT) | −10.068 | (0.0000)*** | [0] | I(1) | −10.065 | (0.0000)*** | [1] | I(1) |
| D(LNEXR) | −6.0434 | (0.0000)*** | [2] | I(1) | −5.8451 | (0.0035)*** | [4] | I(1) |
| D(LNGDP) | −8.1328 | (0.0000)*** | [0] | I(1) | −8.1884 | (0.0000)*** | [4] | I(1) |
| D(LNECP) | −5.7627 | (0.0000)*** | [5] | I(1) | −14.948 | (0.0000)*** | [4] | I(1) |
| D(TU) | −8.1328 | (0.0000)*** | [0] | I(1) | −8.1884 | (0.0000)*** | [4] | I(1) |
Notes: IO, order of integration; D, first difference; PV, p-value. **,***Significance at 5 and 1 percent levels, respectively
Source: Computed using Eviews 9.0 Package
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