Table 1.

Unit root analysis

Constructs	Levin-Lin	FPP	FADF	IPS	Dicky-Fuller
COVID-19 RCIt	1.71	11.06	11.06	2.00	-
∆COVID-19 RCIt	−0.22*	32.15*	68.3*	−0.10	l(1)
COVID-19 RDIt	2.65	7.00	3.17	0.12	-
∆COVID-19 RDIt	−13.51*	61.65*	22.07*	−6.35*	l(1)
COVID-19 GFIt	5.66	3.20	5.57	0.77
∆COVID-19 GFIt	−1.00*	86.01*	35.27*	−1.38*	l(1)
MAt	5.07	5.80	5.63	1.20
∆ MAt	−2.16*	60.12*	25.5*	−2.26*	l(1)
MA-CCt	11.50	32.11*	57.50*	6.18
∆MA-CCt	−3.07*	20.00*	26.12*	−3.13*	l(1)
MA-POLt	5.18	27.06	25.09	4.01
∆MA-POLt	−0.04*	40.01*	79.35*	−4.75	l(1)

Note: * indicates 1% significance level