Table 4 Unit root test (CIPS and CADF).
Variables | CIPS | CADF | ||
|---|---|---|---|---|
I(0) | I(1) | I(0) | I(1) | |
lnRE | − 1.272* | − 6.118*** | − 1.223* | − 3.336*** |
lnTI | − 0.613* | − 6.272*** | − 1.245** | − 3.272*** |
lnFA | − 1.327 | − 5.118*** | − 1.828 | − 2.882*** |
lnGDP | − 1.183 | − 3.814*** | − 3.217 | − 2.638*** |
lnEPOL | 1.214 | − 2.528*** | − 1.818 | − 2.525*** |
lnEF | − 1.287 | 1.126*** | − 3.422 | − 1.245*** |