Table 3 ADF unit root test results...

Table 3

ADF unit root test results

Variables	At level		At first difference
Variables	Constant only	Constant and trend	Constant only	Contestant and trend
LNGDPC	1.657761	−0.679659	−4.092726***	−5.285872***
POLITY2	−1.49948	−1.61187	−5.57919***	−5.46866***
MPV	−2.16265	−2.45727	−5.73016***	−5.6891***
DEA	−1.42784	−0.47369	−4.75927***	−5.06682***
FDI	−0.77555	−4.92462	−4.47756***	−4.02121**
LNTOPEN	0.308094	−1.78253	−4.42987***	−4.54109***
POPG	−0.97791	−2.84799	−4.5339***	−4.46952**
INF	−4.56125***	−4.8952***	−9.21167***	−9.07497***
DBY	−2.43019	−2.43865	−5.2647	−5.15411

Variables	At level		At first difference
Variables	Constant only	Constant and trend	Constant only	Contestant and trend
LNGDPC	1.657761	−0.679659	−4.092726***	−5.285872***
POLITY2	−1.49948	−1.61187	−5.57919***	−5.46866***
MPV	−2.16265	−2.45727	−5.73016***	−5.6891***
DEA	−1.42784	−0.47369	−4.75927***	−5.06682***
FDI	−0.77555	−4.92462	−4.47756***	−4.02121**
LNTOPEN	0.308094	−1.78253	−4.42987***	−4.54109***
POPG	−0.97791	−2.84799	−4.5339***	−4.46952**
INF	−4.56125***	−4.8952***	−9.21167***	−9.07497***
DBY	−2.43019	−2.43865	−5.2647	−5.15411

Note(s): the numbers reported are t-ratio and the asterisks **** and ** indicates the rejection of the null hypothesis of non-stationary at 1%, 5% and 10% significant level respectively

Source(s): Author's computation using Eviews 11

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