Table 1 Result of unit root test
Variables | Level | First difference | ||
|---|---|---|---|---|
ADF | PP | ADF | PP | |
Trend and intercept | Trend and intercept | Trend and intercept | Trend and intercept | |
LIO | − 1.795 | − 1.795 | − 3.929 | − 3.930 |
(0.701) | (0.699) | (0.014) | (0.013) | |
LGFCF | − 2.461 | − 2.460 | − 4.357 | − 4.357 |
(0.346) | (0.346) | (0.003) | (0.003) | |
LOP | − 2.427 | − 2.427 | − 8.616 | − 8.616 |
(0.363) | (0.363) | (0.000) | (0.000) | |
LE | − 2.111 | − 2.111 | − 3.978 | − 3.978 |
(0.532) | (0.532) | (0.012) | (0.012) | |
LEX | − 3.252 | − 3.098 | − 7.848 | − 8.001 |
(0.080) | (0.112) | (0.000) | (0.000) | |
LPOP | − 1.032 | − 3.318 | − 17.188 | − 12.577 |
(0.934) | (0.069) | (0.000) | (0.000) | |
LAO | − 2.267 | − 2.419 | − 9.924 | − 9.830 |
(0.447) | (0.367) | (0.000) | (0.000) | |