Table 2 Panel co-integration test (Pedroni technique).
t-stat | p-value | |
---|---|---|
Panel v-stat | 0.249 | 0.019 |
Panel r-stat | 0.042 | 0.009 |
Panel PP-stat | −2.74 | 0.003 |
Panel ADF-stat | −0.60 | 0.392 |
Group r-stat | −0.492 | 0.030 |
Group PP-stat | −3.502 | 0.000 |
Group ADF-stat | 0.001 | 0.287 |