Table 6.
Findings of unit root test.
| Variables | CIPS |
CADF |
||
|---|---|---|---|---|
| Level | First difference | Level | First difference | |
| lnCO2 | −1.254 | −3.321*** | −2.432 | −4.687*** |
| lnTG | −2.895 | −4.902*** | −1.569 | −4.045*** |
| lnER | −1.432 | −3.655*** | −2.164 | −5.186*** |
| lnEG | −2.857 | −5.672*** | −2.287 | −3.342*** |
| lnP | −3.190 | −5.769*** | −3.113 | −5.590*** |
| lnU | −1.461 | −3.474*** | −2.492 | −3.726*** |
| lnTR | −2.674 | −4.921*** | −2.267 | −4.591*** |