Table 3 Unit root test with two endogenous structural breaks: Clemente–Montañés–Reyes test
From: Does financial depth impact economic growth in North Cyprus?
Variables | Unit Root Test with Two Endogenous Structural Breaks: Clemente–Montañés–Reyes test | ||||||
|---|---|---|---|---|---|---|---|
AO -model | TB1 | TB2 | IO-model | TB1 | TB2 | Result | |
t-Statistics | t-Statistics | ||||||
ln DEPt | −3.681 | Jan 1998 | Apr 2004 | −5.417 | Oct 1983 | Oct 2000 | I (0) |
ln GNPpt | −5.21 | Jan 1991 | Jan 2006 | − 5419 | Oct 1987 | Oct 2001 | I (0) |
INF t | −3.052 | July 1993 | July 2002 | −4.033 | July 1993 | July 1994 | I (0) |
First Difference | |||||||
Dln DEPt | −2.644a | July 2000 | Oct 2007 | −4.732a | Oct 2000 | Oct 2007 | I (1) |
Dln GNPpt | −5.870a | July 1989 | July 1994 | −7.252a | Oct 1989 | Oct 1994 | I (1) |
D INFt | −12.017a | July 1993 | July 1994 | −14.671a | Oct 1993 | Oct 1994 | I (1) |