Table 1 Unit Root Test
From: Stock market and macroeconomic variables: new evidence from India
Variables | ADF Test | Philips-Peron Test | KPSS | |||
|---|---|---|---|---|---|---|
Levels | First Difference | Levels | First Difference | Levels | First Difference | |
LBSE | −2.29 (0.43) | −16.81 (0.00) | −2.57 (0.29) | −17.04 (0.00) | 1.92a | 0.103 |
LIIP | −1.09 (0.92) | − 17.16 (0.00) | −1.80 (0.70) | − 28.11 (0.00) | 2.04a | 0.372 |
LWPI | −1.17 (0.91) | − 11.05 (0.00) | −1.21 (0.90) | − 11.16 (0.00) | 2.05a | 0.231 |
LM | −2.22 (0.19) | −04.10 (0.00) | −1.88 (0.99) | − 20.38 (0.00) | 0.27a | 0.066 |
LE | −1.83 (0.68) | −04.04 (0.00) | − 1.94 (0.62) | − 13.42 (0.00) | 0.22a | 0.087 |