Table 2 Unit root tests results... | Emerald Publishing

Table 2

Unit root tests results

Countries	DF-GLS test				Perron test
	Level		1st diff.		Level		1st diff.
	TOUR	TFP	TOUR	TFP	TOUR	TFP	TOUR	TFP
Argentina	−1.13 [4]	0.23 [3]	−2.23 [3]**	−3.11 [3]***	−7.73 [2]	−10.43 [2]	−18.64 [2]**	−21.13 [2]**
Bolivia	−0.05 [4]	−0.66 [4]	−4.37 [2]***	−3.88 [3]***	−11.25 [2]	−5.19 [2]	−15.50 [2]*	−16.16 [2]*
Brazil	−2.91 [3]*	−0.42 [4]	−3.95 [3]***	−2.10 [3]**	−1.80 [2]	−6.71 [2]	−22.55 [2]***	−21.29 [2]**
Chile	−1.78 [3]	−3.49 [2]**	−2.11 [2]**	−2.50 [2]**	−12.52 [3]	−2.71 [3]	−31.36 [3]***	−17.72 [3]*
Colombia	−2.87 [2]	−1.12 [5]	−2.29 [3]**	−3.92 [2]***	−8.33 [3]	−2.64 [3]	−45.98 [3]***	−28.92 [3]***
Costa Rica	−1.39 [3]	−1.22 [4]	−3.00 [1]***	−2.80 [3]***	−15.49 [3]	−8.06 [3]	−33.71 [3]***	−21.92 [3]**
The Dominican Rep.	−1.59 [3]	−0.96 [4]	−2.10 [3]**	−2.42 [3]**	4.59 [3]	−5.46 [3]	−39.45 [3]***	−36.45 [3]***
Ecuador	−1.50 [3]	−0.93 [4]	−2.58 [3]**	−3.71 [2]***	−10.05 [3]	−5.35 [3]	−39.50 [3]***	−40.90 [3]***
Guatemala	−1.52 [3]	−3.01 [3]*	−2.20 [3]**	−2.94 [3]***	−5.95 [3]	−6.98 [3]	−54.77 [3]***	−24.14 [3]**
Honduras	0.61 [5]	−0.51 [5]	−2.71 [3]***	−2.56 [3]**	−4.9 [3]	−3.62 [3]	−19.56 [3]**	−18.81 [3]**
Nicaragua	−1.90 [3]	−1.30 [3]	−2.37 [3]**	−3.11 [3]***	−19.09 [3]	−4.51 [3]	−42.40 [3]***	−39.98 [3]***
Panama	−0.95 [4]	−0.93 [4]	−2.20 [3]**	−3.88 [2]***	−1.91 [3]	−6.59 [3]	−44.94 [3]***	−40.10 [3]***
Paraguay	−1.78 [3]	−1.96 [3]	−2.74 [3]***	−2.33 [3]**	−8.71 [3]	−8.65 [3]	−42.97 [3]***	−25.66 [3]***
Peru	−1.10 [4]	−1.43 [3]	−3.44 [2]***	−3.56 [1]***	−16.82 [3]	−10.01 [3]	−37.51 [3]***	−39.49 [3]***
Uruguay	−2.26 [3]	−0.88 [4]	−2.20 [3]**	−2.55 [3]**	−7.56 [3]	−3.41 [3]	−59.93 [3]***	−28.79 [3]***
Venezuela	−2.14 [3]	−1.47 [4]	−2.39 [3]**	−2.64 [2]***	−8.37 [3]	−13.70 [3]	−28.49 [3]***	−29.65 [3]***

Countries	DF-GLS test				Perron test
	Level		1st diff.		Level		1st diff.
	TOUR	TFP	TOUR	TFP	TOUR	TFP	TOUR	TFP
Argentina	−1.13 [4]	0.23 [3]	−2.23 [3]**	−3.11 [3]***	−7.73 [2]	−10.43 [2]	−18.64 [2]**	−21.13 [2]**
Bolivia	−0.05 [4]	−0.66 [4]	−4.37 [2]***	−3.88 [3]***	−11.25 [2]	−5.19 [2]	−15.50 [2]*	−16.16 [2]*
Brazil	−2.91 [3]*	−0.42 [4]	−3.95 [3]***	−2.10 [3]**	−1.80 [2]	−6.71 [2]	−22.55 [2]***	−21.29 [2]**
Chile	−1.78 [3]	−3.49 [2]**	−2.11 [2]**	−2.50 [2]**	−12.52 [3]	−2.71 [3]	−31.36 [3]***	−17.72 [3]*
Colombia	−2.87 [2]	−1.12 [5]	−2.29 [3]**	−3.92 [2]***	−8.33 [3]	−2.64 [3]	−45.98 [3]***	−28.92 [3]***
Costa Rica	−1.39 [3]	−1.22 [4]	−3.00 [1]***	−2.80 [3]***	−15.49 [3]	−8.06 [3]	−33.71 [3]***	−21.92 [3]**
The Dominican Rep.	−1.59 [3]	−0.96 [4]	−2.10 [3]**	−2.42 [3]**	4.59 [3]	−5.46 [3]	−39.45 [3]***	−36.45 [3]***
Ecuador	−1.50 [3]	−0.93 [4]	−2.58 [3]**	−3.71 [2]***	−10.05 [3]	−5.35 [3]	−39.50 [3]***	−40.90 [3]***
Guatemala	−1.52 [3]	−3.01 [3]*	−2.20 [3]**	−2.94 [3]***	−5.95 [3]	−6.98 [3]	−54.77 [3]***	−24.14 [3]**
Honduras	0.61 [5]	−0.51 [5]	−2.71 [3]***	−2.56 [3]**	−4.9 [3]	−3.62 [3]	−19.56 [3]**	−18.81 [3]**
Nicaragua	−1.90 [3]	−1.30 [3]	−2.37 [3]**	−3.11 [3]***	−19.09 [3]	−4.51 [3]	−42.40 [3]***	−39.98 [3]***
Panama	−0.95 [4]	−0.93 [4]	−2.20 [3]**	−3.88 [2]***	−1.91 [3]	−6.59 [3]	−44.94 [3]***	−40.10 [3]***
Paraguay	−1.78 [3]	−1.96 [3]	−2.74 [3]***	−2.33 [3]**	−8.71 [3]	−8.65 [3]	−42.97 [3]***	−25.66 [3]***
Peru	−1.10 [4]	−1.43 [3]	−3.44 [2]***	−3.56 [1]***	−16.82 [3]	−10.01 [3]	−37.51 [3]***	−39.49 [3]***
Uruguay	−2.26 [3]	−0.88 [4]	−2.20 [3]**	−2.55 [3]**	−7.56 [3]	−3.41 [3]	−59.93 [3]***	−28.79 [3]***
Venezuela	−2.14 [3]	−1.47 [4]	−2.39 [3]**	−2.64 [2]***	−8.37 [3]	−13.70 [3]	−28.49 [3]***	−29.65 [3]***

Note(s): ***, ** and * denote significant at 1%, 5% and 10% level. Numbers in square brackets are selected lags

Source(s): Own elaboration