From: Financial sector development and economic growth: evidence from Cameroon
Variables | Trend & inter | Decision | |||
---|---|---|---|---|---|
Level | First difference | ||||
Augmented Dickey Fuller | Phillips- Perron | Augmented Dickey Fuller | Phillips- Perron | ||
GDP growth (annual %) | −3.370565 | −3.370565 | −3.605024b | −3.605024b | I(1) |
Domestic credit to private sector (% of GDP) | −0.829053 | −0.880052 | −5.007785a | −5.161468a | I(1) |
Bank deposits as % of GDP | −1.532913 | −1.619798 | −4.227425a | −4.2245425b | I(1) |
Money and quasi money (M2) as % of GDP | −1.501459 | −1.564212 | −4.555150a | −4.555150a | I(1) |
Government expenditure(%GDP) | −2.753952 | −2.093615 | −4.803761a | −4.742368a | I(1) |
Private investment | −2.245010 | −2.245010 | −4.459368a | −4.459368b | I(1) |