Financial Innovation

Table 4 Unit root test

From: Testing the relationship between financial sector output, employment and economic growth in North Cyprus

Series	ADF			PP
Series	τ	τμ	Ττ	τ	τμ	Ττ
lnRGDP	−2.98	−3.11	−3.13	−2.88	− 2.98	−2.98
∆lnRGDP	−5.02^a	−4.92^a	−4.47^a	−11.20^a	−10.86^a	−10.98^a
lnFI	1.66	0.70	−1.30	1.40	0.57	−2.10
∆lnFI	−1.77	−8.94^a	−4.85^a	−8.69^a	−9.84^a	−27.32^a
lnEMP	2.71	1.59	−2.22	3.27	−1.86	2.11
∆lnEMP	−5.31^a	−5.91^a	−6.40^a	−5.40^a	−6.28^a	−7.36^a

^adenotes rejection of the hypothesis at the 0.01 level

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