Table 2.
Unit root test results.
| Variables | Augmented Dickey fuller |
Phillip Perron |
KPSS (5 % CV(0.1460)) |
Integration order | ||
|---|---|---|---|---|---|---|
| Coefficient | p-value | Coefficient | p-value | LM-Stat | ||
| GDPC | −4.5869 | 0.001y | −4.6196 | 0.001x | 0.1261y | I(0) |
| RNR | −2.7552 | 0.073z | −2.8207 | 0.064z | 0.1017y | I(0) |
| NRNR | −4.185350 | 0.002y | −4.019871 | 0.003y | 0.1115y | I(0) |
| CRDPSEC | −1.0612 | 0.722 | −1.2488 | 0.644 | 0.2717 | I(1) |
| CRDPSEC | −4.7656 | 0.000x | −4.6872 | 0.001y | 0.1230y | |
| INF | −5.0583 | 0.000x | −5.0694 | 0.000x | 0.0914y | I(0) |
| XPOT | −3.2736 | 0.022y | −3.2752 | 0.022y | 0.1327y | I(0) |
x,y and z are the respective significant levels at 1 %, 5 % and 10 %. GDPC = Gross domestic product per capita, RNR = renewable natural resources, NRNR = Non-renewable natural resources, CRDPSEC = Credit to private sector, INF = Inflation, XPOT = Export of goods and services.