|
PP Test
|
ADF Test
|
---|
Stock Price
|
|
Level
|
1st Diff.
|
Level
|
1st Diff.
|
China
|
−1.81
|
−62.41*
|
−1.78
|
−62.37*
|
Hong Kong
|
−1.83
|
−62.70*
|
−1.83
|
−62.70*
|
India
|
−0.92
|
−57.72*
|
−0.93
|
−57.84*
|
Japan
|
−1.58
|
−63.04*
|
−1.66
|
−62.97*
|
Pakistan
|
−1.11
|
−57.72*
|
−1.15
|
−55.91*
|
Sri Lanka
|
−0.44
|
−50.11*
|
−0.39
|
−40.83*
|
Exchange Rates
|
China
|
1.76
|
−9.88*
|
1.79
|
−73.17*
|
Hong Kong
|
−2.47
|
−46.07*
|
−2.01
|
−84.08*
|
India
|
−0.80
|
−10.57*
|
−0.46
|
−62.57*
|
Japan
|
−1.42
|
−57.51*
|
−1.39
|
−57.51*
|
Pakistan
|
0.99
|
−12.90*
|
0.26
|
−125.0*
|
Sri Lanka
|
−2.01
|
−10.16*
|
−1.98
|
−102.1*
|
- * indicates p < 1 %
- Critical Values at 1 %, 5 % and 10 % are −3.43, −2.86 and −2.56 respectively
- PP is Phillips Perron test
- ADF is Augmented Dickey Fuller test