Results of the ADF unit root
| Variable | Level | First difference | ||
|---|---|---|---|---|
| Lag length | t-statistics | Lag length | t-statistics | |
| Housing price of mining town | 4 | −2.76* | ||
| Housing price of non-mining town | 1 | −3.21** | ||
| Mining production as a % of GDP | 7 | −2.90*** | ||
| Employees in the mining sector | 0 | −0.47 | 0 | −7.86*** |
| Housing supply | 1 | −2.95** | ||
| Consumer price index | 1 | 0.50 | 0 | −5.50*** |
| Housing lending rate | 1 | −2.63* | ||
| Variable | Level | First difference | ||
|---|---|---|---|---|
| Lag length | Lag length | |||
| Housing price of mining town | 4 | −2.76 | ||
| Housing price of non-mining town | 1 | −3.21 | ||
| Mining production as a % of GDP | 7 | −2.90 | ||
| Employees in the mining sector | 0 | −0.47 | 0 | −7.86 |
| Housing supply | 1 | −2.95 | ||
| Consumer price index | 1 | 0.50 | 0 | −5.50 |
| Housing lending rate | 1 | −2.63 | ||
Note:
*; ** and *** denote the rejection of the tested hypothesis of no unit root at the 10, 5 and 1% significance level respectively
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