Table 2 ADF and PP unit root tests
ADF | PP | |||
|---|---|---|---|---|
c | c + t | c | c + t | |
lnstockp | − 1.118 (1) | − 3.567** (0) | 0.241 (18) | − 3.522** (2) |
Δlnstockp | − 10.151*** (0) | − 10.057*** (0) | − 10.222*** (4) | − 10.132*** (4) |
lni | − 2.251 (1) | − 3.425* (5) | − 1.927 (2) | − 2.564 (2) |
Δlni | − 5.534*** (1) | − 5.474*** (1) | − 4.616*** (10) | − 4.590*** (11) |
lnfdi (Brazil) | − 6.471*** (0) | − 6.533*** (0) | − 6.561*** (3) | − 6.620*** (3) |
lngdp (Brazil) | 0.135 (1) | − 3.551** (1) | 0.549 (1) | − 2.882 (2) |
Δlngdp (Brazil) | − 4.672*** (0) | − 4.699*** (0) | − 4.619*** (3) | − 4.662*** (3) |
lnfdi (China) | − 1.327 (4) | − 2.837 (4) | − 3.099** (5) | − 4.388*** (4) |
Δlnfdi (China) | − 7.726*** (2) | − 7.641*** (2) | − 13.445*** (18) | − 13.228*** (18) |
lngdp (China) | − 1.049 (8) | − 1.975 (8) | − 0.794 (12) | − 7.601*** (9) |
Δlngdp (China) | − 22.568*** (2) | − 24.360*** (2) | − 25.750*** (11) | − 29.584*** (11) |
lnfdi (Poland) | − 3.878*** (2) | − 4.061 (2) | − 8.530*** (1) | − 8.780*** (0) |
lngdp (Poland) | − 0.322 (9) | − 4.182*** (6) | − 0.947 (8) | − 3.848** (1) |
Δlngdp (Poland) | − 4.648*** (8) | − 4.578*** (8) | − 8.313*** (5) | − 8.193*** (5) |
lnfdi (Turkey) | − 3.268** (5) | − 3.310* (5) | − 4.490*** (4) | − 4.449*** (4) |
Δlnfdi (Turkey) | − 8.866*** (1) | − 8.846*** (1) | − 13.622*** (2) | − 13.634*** (2) |
lngdp (Turkey) | 3.768 (10) | − 0.106 (10) | 2.788 (2) | − 1.688 (1) |
Δlngdp (Turkey) | − 4.119*** (3) | − 4.878*** (4) | − 6.920*** (3) | − 7.946*** (3) |