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| ADF test statistics | PP test statistics | |||
|---|---|---|---|---|
| variables | level | 1st Differences | levels | 1st Differences |
| lnM | -2.0620 | -5.9160*** | -3.9435*** | -6.1087*** |
| lnF | -3.0691** | -6.7728*** | -3.9720*** | -6.8467*** |
| lnA | -1.1478 | -5.5781*** | -1.1211 | -5.5937*** |
| lnY | -2.1996 | -8.6963*** | -2.7935* | -8.8649*** |
| lnP | -7.8215*** | -8.0887*** | -7.9233*** | -30.1145*** |
| lnT | -3.6148*** | -7.3879*** | -3.6148*** | -19.9617*** |
***Significance at 1% level;
** Significance at 5% level;
* Significance at 10% level
