Financial Innovation

Table 2 Unit root test (IPS, 2003)

From: Currencies of greater interest for central Asian economies: an analysis of exchange market pressure amid global and regional interdependence

Variables	\(Z_{{\tilde{t} - bar}}\)
EMP Central Asia	− 7.4008***
EMP China	− 6.0734***
EMP Russia	− 8.7952***
Dollar index	− 12.0571***
Exchange rate	− 11.2998***
Current	− 6.3822***
Reserves	− 10.3811***
Broad money	− 1.9521**
Exports	− 3.7736***
Imports	− 2.8009***

**P < 0.05; ***P < 0.01

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