Table 2 ADF and Phillips-Perron tests...

Table 2

ADF and Phillips-Perron tests results

Variable	(C, T, L)*	ADF t – statistic	PP t - statistic	1% level	5% level	Conclusions
LNPVN	(1,1,13)	−1.618734	−1.843602	−4.013946	−3.436957	Non-stationary
DLNPVN	(1,1,13)	−11.19394	−11.19067	−4.014288	−3.437122	Stationary
LNEX	(1,1,13)	−0.258259	−1.352345	−3.469933	−2.878829	Non-stationary
DLNEX	(1,1,13)	−10.36336	−10.26842	−3.469933	−2.878829	Stationary

Variable	(C, T, L)*	ADF t – statistic	PP t - statistic	1% level	5% level	Conclusions
LNPVN	(1,1,13)	−1.618734	−1.843602	−4.013946	−3.436957	Non-stationary
DLNPVN	(1,1,13)	−11.19394	−11.19067	−4.014288	−3.437122	Stationary
LNEX	(1,1,13)	−0.258259	−1.352345	−3.469933	−2.878829	Non-stationary
DLNEX	(1,1,13)	−10.36336	−10.26842	−3.469933	−2.878829	Stationary

Note(s): *C is constant or intercept, T is trend and L is lag selection. D represents the first-order difference to the time series

Source(s): Calculated by author's using Eviews

Sharing Unavailable