Table 2.
ADF Unit root test.
| At level |
At First difference |
||||||
|---|---|---|---|---|---|---|---|
| Variables | AIC | constant | constant & trend | AIC | constant | constant & trend | Conclusion |
| lnGDP | 7 | -3.416∗∗ | -3.754∗∗ | 0 | -7.219∗∗∗ | -7.079∗∗∗ | I (0) I (1) |
| lnSMEO | 0 | -1.476 | -2.598 | 0 | -5.541∗∗∗ | -5.482∗∗∗ | I (1) |
| lnEXPR | 0 | -2.054 | -2.229 | 0 | -6.358∗∗∗ | -6.478∗∗∗ | I (1) |
| lnHDI | 0 | -0.149 | -1.968 | 0 | -3.890∗∗∗ | -3.795∗∗∗ | I (1) |
| lnBCSME | 0 | -2.346 | -2.549 | 0 | -8.735∗∗∗ | -8.580∗∗∗ | I (1) |
Note: ∗∗∗, ∗,∗ denotes null hypothesis rejected at1%; 5% & 10% significance level respectively.