Table 2.
Unit root test result.
| Variable | Augmented Dickey Fuller (ADF) | Philips Perron (PP) | ||
|---|---|---|---|---|
| Level | First difference | Level | First difference | |
| GDPG | −5.0765 *** | −7.4727*** | −5.0765*** | −18.7528*** |
| (0.0010) | (0.0000) | (0.0010) | (0.0000) | |
| LAD | −3.4359 | −3.8176** | −2.8401 | −7.9575*** |
| (0.0643) | (0.0290) | (0.1929) | (0.0000) | |
| LK | −2.1443 | −5.5442*** | −2.2664 | −5.5442*** |
| (0.5056) | (0.0003) | (0.4412) | (0.0003) | |
| LL | −4.5395** | −5.1811*** | −4.5708** | −17.6792*** |
| (0.0044) | (0.0009) | (0.0041) | (0.0000) | |
| LHC | −2.1334 | −6.2945*** | −2.1796 | −6.2945*** |
| (0.5110) | (0.000) | (0.4864) | (0.0000) | |
*** and **
denotes significant at 1 and 5% significance level, respectively. The figure in parenthesis (…) represents P-value or probability value for the significance level.