From: Fiscal dominance and exchange rate stability in Nigeria
Variables | ADF statistics | I(d) | PP statistics | I(d) | ||
---|---|---|---|---|---|---|
I(0) | I(1) | I(0) | I(1) | |||
Δexchr | − 3.101 | − | I(0) | − 3.823* | − | I(0) |
\(rgdpgr\) | − 1.728 | − 3.740* | I(1) | − 2.879 | − 3.065* | I(1) |
\({\Delta}m2\) | − 2.411 | − 3.761* | I(1) | − 2.779 | − 2.866* | I(1) |
\({\Delta }budg\_def\) | − 1.850 | − 4.761* | I(1) | − 2.731 | − 2.637* | I(1) |
\({\Delta }public\_deb\) | − 1.497 | − 4.396* | I(1) | − 3.196* | − | I(0) |
\(forein\_\text{int}\) | − 1.618 | − 4.005* | I(1) | 1.864 | − 3.537* | I(1) |
\({\Delta }cpi\) | − 0.796 | − 4.634* | I(1) | − 2.845 | − 3.860* | I(1) |
\(finopen\) | − 0.363 | − 2.116* | I(1) | − 1.744 | − 2.796* | I(1) |