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Future Business Journal

Table 7 Panel Padroni residual cointegration test.

From: The impact of macroeconomic and institutional environment on NPL of developing and developed countries

Sample

NPL and PCREDIT

NPL and GDP

Statistic

P-value

Statistic

P-value

Developing countries

Modified Phillips-Perron t

2.5564*

0.0053

3.6697*

0.0001

Phillips-Perron t

−3.6084*

0.0002

−5.328*

0.0000

Augmented Dickey-Fuller t

−3.6136*

0.0002

−1.947*

0.0257

(UMIC)

Modified Phillips-Perron t

4.7586*

0.000

4.9499*

0.000

Phillips-Perron t

0.8012

0.2115

1.2024

0.1146

Augmented Dickey-Fuller t

1.638*

0.050

3.0176*

0.0013

(LMIC)

Modified Phillips-Perron t

2.7063*

0.0034

3.5651*

0.0002

Phillips-Perron t

−3.2441*

0.0006

−1.3552

0.0877

Augmented Dickey-Fuller t

−3.0473*

0.0012

0.0173

0.4931

(LIC)

Modified Phillips-Perron t

2.222*

0.0131

2.0589*

0.0198

Phillips-Perron t

−0.5495

0.2913

−0.4121

0.3401

Augmented Dickey-Fuller t

−1.3158

0.0941

−0.6633

0.2536

(HIC)

Modified Phillips-Perron t

1.631*

0.002

2.782*

0.003

Phillips-Perron t

−2.264*

0.0028

−2.278*

0.0378

Augmented Dickey-Fuller t

−3.278*

0.0076

1.787

0.378

  1. *Indicate value at 5% significance level
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