Table 5.

CADF and CIPS test.

Variables	Level	1st difference	Level	1st difference
LCO2	−1.464	−3.526***	−1.332	−2.386***
ECI	−2.164**	−3.175	−2.657**	−4.879
LURB	−1.654	−5.265**	−1.232	−3.778*
LICT	−2.628	−5.652*	−2.888	−5.334**
LHE	−0.625	−2.458*	−1.989	−2.866*
LGI	−1.975	−3.553*	−2.828	−4.753*