Table 6 LLC, IPS and CIPS unit root results.
LLC | IPS | CIPS | ||||
|---|---|---|---|---|---|---|
Level | First difference | Level | First difference | Level | First difference | |
EF | -0.29036 | -7.39964*** | 0.31253 | -7.79992*** | 0.639 | -1.772** |
FinTech | 0.02044 | -8.47865*** | -0.59263 | -9.31040*** | -2.157** | -4.574*** |
FDI | -1.22995 | -5.72541*** | -1.93913** | -7.30154*** | -1.334* | -1.885** |
GTE | -2.38415*** | -3.59676*** | 1.75592 | -3.68637*** | -0.632 | -1.337** |
IND | -3.61573*** | -3.42523*** | -2.01936** | -6.03024*** | 0.482 | -0.828** |
LGDP | -0.70914 | -3.58588*** | 1.20662 | -5.08831*** | -0.601 | -1.374** |