Table 3.

Result of unit root test

Variables	ADF	P–P
At level
GNPGR	− 2.843*	− 2.843*
INFR	− 1.884	− 0.289
MANGR	− 1.959	− 2.353
TPRT	− 1.096	− 1.096
First difference
GNPGR	− 5.714***	− 6.171***
INFR	− 4.206***	− 4.271***
MANGR	− 8.069***	− 16.454***
TPRT	− 5.122***	− 5.061***

Source: Authors’ computation

Significant level: * = 10%, ** = 5%, *** = 1%