Table 4 Panel Unit-Root Test.
Variables | No. of Panels | No. of Periods | Test Category | |
|---|---|---|---|---|
| Â | Â | Â | First Generation | Second Generation |
| Â | Â | Â | Adj. t-statistic | t-bar |
REP | 138 | 8 | \({-16.275}^{*}\) | \({-1.951}^{*}\) |
CFP | 138 | 8 | \({-19.122}^{*}\) | \({-2.373}^{*}\) |
CSG | 138 | 8 | \({-1.5e+02}^{*}\) | \({-2.827}^{*}\) |
CGEN | 138 | 8 | \(\mathrm{NA}\) | \(\mathrm{NA}\) |
CAGE | 138 | 8 | \({-10.942}^{*}\) | \({-1.924}^{**}\) |
CEDU | 138 | 8 | \(\mathrm{NA}\) | \(\mathrm{NA}\) |
CDUA | 138 | 8 | \(\mathrm{NA}\) | \(\mathrm{NA}\) |
CREM | 138 | 8 | \({-3.2e+03}^{*}\) | \({-2.264}^{*}\) |
CTEN | 138 | 8 | \(\mathrm{NA}\) | \(\mathrm{NA}\) |
CNAT | 138 | 8 | \(\mathrm{NA}\) | \(\mathrm{NA}\) |
CBUS | 138 | 8 | \(\mathrm{NA}\) | \(\mathrm{NA}\) |
LEV | 138 | 8 | \({-46.017}^{*}\) | \({-2.611}^{*}\) |
FS | 138 | 8 | \({-12.075}^{*}\) | \({-1.929}^{**}\) |
TAN | 138 | 8 | \({-14.282}^{*}\) | \({-1.924}^{**}\) |
PROD | 138 | 8 | \({-43.789}^{*}\) | \({-1.873}^{**}\) |