Table II. Unit root test Unit root test... | Emerald Publishing

Table II.

Unit root test

Unit root test	ADF test			Phillips–Perron test			KPSS test
Variable	t-statistic	CV	Result	t-statistic	CV	Result	t-statistic	CV	Result
Logarithm transformed variables
LESTIC	−1.120	−3.487	NS	−0.777	−3.447	NS	0.255	0.389	S
LINTR	−2.122	−3.469	NS	−1.510	−3.391	NS	0.380	0.389	S
LEXR	−4.422	−3.554	S	−3.391	−3.419	NS	0.364	0.389	S
LCPI	1.751	−3.485	NS	−2.083	−3.460	NS	0.499	0.389	NS
LOILP	−1.577	−3.512	NS	−1.844	−3.419	NS	0.411	0.389	NS
LGLDP	−3.140	−3.554	NS	−3.321	−3.534	NS	0.412	0.389	NS
Differenced transformed variables
DESTIC	−3.355	−2.914	S	−6.470	−2.961	S	0.126	0.154	S
DINTR	−6.928	−2.987	S	−4.248	−2.926	S	0.114	0.154	S
DEXR	−6.928	−2.987	S	−10.143	−2.848	S	0.125	0.154	S
DCPI	−4.717	−2.928	S	−8.415	−2.928	S	0.126	0.154	S
DOILP	−5.459	−2.987	S	−5.335	−2.848	S	0.102	0.154	S
DGLDP	−6.159	−2.949	S	−9.060	−2.848	S	0.158	0.154	NS

Unit root test	ADF test			Phillips–Perron test			KPSS test
Variable	t-statistic	CV	Result	t-statistic	CV	Result	t-statistic	CV	Result
Logarithm transformed variables
LESTIC	−1.120	−3.487	NS	−0.777	−3.447	NS	0.255	0.389	S
LINTR	−2.122	−3.469	NS	−1.510	−3.391	NS	0.380	0.389	S
LEXR	−4.422	−3.554	S	−3.391	−3.419	NS	0.364	0.389	S
LCPI	1.751	−3.485	NS	−2.083	−3.460	NS	0.499	0.389	NS
LOILP	−1.577	−3.512	NS	−1.844	−3.419	NS	0.411	0.389	NS
LGLDP	−3.140	−3.554	NS	−3.321	−3.534	NS	0.412	0.389	NS
Differenced transformed variables
DESTIC	−3.355	−2.914	S	−6.470	−2.961	S	0.126	0.154	S
DINTR	−6.928	−2.987	S	−4.248	−2.926	S	0.114	0.154	S
DEXR	−6.928	−2.987	S	−10.143	−2.848	S	0.125	0.154	S
DCPI	−4.717	−2.928	S	−8.415	−2.928	S	0.126	0.154	S
DOILP	−5.459	−2.987	S	−5.335	−2.848	S	0.102	0.154	S
DGLDP	−6.159	−2.949	S	−9.060	−2.848	S	0.158	0.154	NS

Notes: NS = non-stationary and S = stationary

Source: Own elaboration