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| ADF (t-Statistic) | Residual variance | HAC variance |
|---|---|---|
| 2.490*** | 8.24E+21 | 2.64E+22 |
Source: Computation by authors. The lag length was selected by Schwarz Info criterion.
*** specifies the statistically significant at 1% levels.
** specifies the statistically significant at 5% levels.
* specifies the statistically significant at 10% levels.
