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Table 3 Phillips–Perron unit root test (intercept and trend).

From: Modelling financial openness growth-nexus in Nigeria: evidence from bounds testing to cointegration approach

 

ln RGDP

ln RGCF

CPS (%GDP)

TRADE (%GDP)

M2

(%GDP)

ln CPI

Population growth (%)

Level

− 1.7748

(0.6933)

− 3.2987

(0.0846)

− 2.4819

(0.3342)

− 2.1040

(0.5242)

− 2.4647

(0.3421)

− 2.5899

(0.2869)

− 1.9632

(0.5985)

1st difference

− 4.8633

(0.0024)

− 4.8702

(0.0024)

− 9.9854

(0.0000)

− 9.0758

(0.0000)

− 5.6024

(0.0004)

− 9.5068

(0.0000)

− 3.8010

(0.0301)

Conclusion (5%)

I(1)

I(0)

I(1)

I(1)

I(1)

I(1)

I(1)

  1. Figures in bracket are probability values