Table 3 Results of unit root tests... | Emerald Publishing

Table 3

Results of unit root tests

Variables	CIPS test statistics		CADF test statistic
Variables	Level	First difference	Level	First difference
ANS	−1.856	−4.713*	−1.702	−3.194*
REN	−1.775	−4.674*	−1.610	−3.446*
EVTAX	−1.857	−4.477*	−1.861	−2.995*
RENT	−2.383*	−4.652*	−2.175**	−3.808*
INF	−3.398*	−5.234*	−2.813*	−4.064*

Variables	CIPS test statistics		CADF test statistic
Variables	Level	First difference	Level	First difference
ANS	−1.856	−4.713*	−1.702	−3.194*
REN	−1.775	−4.674*	−1.610	−3.446*
EVTAX	−1.857	−4.477*	−1.861	−2.995*
RENT	−2.383*	−4.652*	−2.175**	−3.808*
INF	−3.398*	−5.234*	−2.813*	−4.064*

Note(s): Symbol * and **denote significant at 1% and 5%, respectively

Source(s): Table by the author