Table 1 Tests for stationarity.
From: Application of Markov chain to share price movement in Nigeria (1985–2019)
Variables | ADF | 5% Critical level | Remarks | |
|---|---|---|---|---|
At Levels | First–Order | |||
GDPgr | − 4.085 | − 3.000 | – | I ~ 1(0) |
ASI | − 21.026 | − 3.000 | – | I ~ 1(0) |
MC | − 5.421 | – | − 3.000 | I ~ 1(1) |
BDR | − 7.936 | – | − 3.000 | I ~ 1(1) |
EXR | − 4.549 | – | − 3.750 | I ~ 1(1) |