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Table 3 Unit root test

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)

  1. a/b/cindicates stationarity at 1%/5%/10% respectively
  2. Source: Author