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Unit root test results.
| Variables | Constant |
Constant and trend |
||
|---|---|---|---|---|
| Level | 1st difference | Level | 1st difference | |
| LNGDP | -1.782 | -2.289∗∗∗ | -1.964 | -3.430∗∗∗ |
| LNENG | -1.657 | -2.532∗∗∗ | -1.977 | -2.995∗∗∗ |
| LNTRA | -1.969 | -2.480∗∗∗ | -2.388 | -3.333∗∗∗ |
| LNCAP | -1.567 | -2.452∗∗∗ | -2.448 | -3.005∗∗∗ |
| LNLAB | -2.188 | -2.797∗∗∗ | -2.541 | -3.588∗∗∗ |
| LNFDI | -1.672 | -3.497∗∗∗ | -2.311 | -3.636∗∗∗ |
| LNHCI | -1.913 | -1.763 | -2.343 | -3.431∗∗∗ |
Note: ∗∗∗ denotes significance at 1% level.
