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| HT | ADF-Fisher | Steady or not | |
|---|---|---|---|
| Gec | 0.0003 | 0.0000 | Yes |
| Cycbz | 0.6808 | 1.0000 | No |
| Cival | 0.0002 | 0.0000 | Yes |
| Gov | 0.9990 | 0.2111 | No |
| Envir | 0.0000 | 0.3861 | No |
| Fdi | 0.4991 | 0.0971 | No |
| Sxsp | 0.7783 | 0.7073 | No |
| Jtsp | 0.9998 | 1.0000 | No |
| Gysp | 1.0000 | 0.9610 | No |
| Pedroni test for cointegration | Statistic | p-value | Cointegration or not |
| Modified Phillips–Perron t | 7.0570 | 0.0000 | Yes |
| Phillips–Perron t | -11.4702 | 0.0000 | Yes |
| Augmented Dickey–Fuller t | -8.6228 | 0.0000 | Yes |
