Panel unit root tests
| Test statistic | Levin, Lin and chu t* | Im, Pesaran and shin W-stat | ADF - Fisher chi-square | PP - Fisher chi-square | |
|---|---|---|---|---|---|
| GDP | I | −16.4131*** | −13.9117*** | 526.140*** | 573.949*** |
| I&T | −25.2056*** | −13.0936*** | 472.137*** | 548.096*** | |
| ICT | I | −11.0047*** | −8.8109*** | 427.241*** | 505.355*** |
| I&T | −16.0905*** | −8.6057*** | 395.406*** | 544.718*** | |
| FD | I | −26.9777*** | −21.5813*** | 746.117*** | 900.201*** |
| I&T | −28.2673*** | −17.7431*** | 596.295*** | 798.709*** | |
| INF | I | −25.8325*** | −27.8264*** | 945.533*** | 1552.82*** |
| I&T | −32.7747*** | −23.9365*** | 773.533*** | 1341.49*** | |
| TRD | I | −26.5685*** | −21.3741*** | 733.816*** | 901.735*** |
| I&T | −27.6763*** | −16.7086*** | 574.556*** | 864.099*** |
| Test statistic | Levin, Lin and chu t* | Im, Pesaran and shin W-stat | ADF - Fisher chi-square | PP - Fisher chi-square | |
|---|---|---|---|---|---|
| GDP | I | −16.4131*** | −13.9117*** | 526.140*** | 573.949*** |
| I&T | −25.2056*** | −13.0936*** | 472.137*** | 548.096*** | |
| ICT | I | −11.0047*** | −8.8109*** | 427.241*** | 505.355*** |
| I&T | −16.0905*** | −8.6057*** | 395.406*** | 544.718*** | |
| FD | I | −26.9777*** | −21.5813*** | 746.117*** | 900.201*** |
| I&T | −28.2673*** | −17.7431*** | 596.295*** | 798.709*** | |
| INF | I | −25.8325*** | −27.8264*** | 945.533*** | 1552.82*** |
| I&T | −32.7747*** | −23.9365*** | 773.533*** | 1341.49*** | |
| TRD | I | −26.5685*** | −21.3741*** | 733.816*** | 901.735*** |
| I&T | −27.6763*** | −16.7086*** | 574.556*** | 864.099*** |
Note(s): LLC, Levin-Lin-Chu; IPS, Im-Pesaran-Shin; ADF, Augmented Dickey-Fuller; PP, Phillips and Perron; I, intercept only; I&T, both intercept and trend. The figures are reported here at the first difference level. *** denotes significance at 1% level
Source(s) Author's own elaboration
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