ADF test | Perron test | KPSS test | ||||
---|---|---|---|---|---|---|
Level | 1st diff. | Level | 1st diff. | Level | 1st diff. | |
Argentina | ||||||
lnGDP | −3.44** | −6.29*** | −49.94*** | −61.99*** | 0.09* | 0.03* |
lnMGDP | −1.99 | −4.04*** | −9.21 | −56.21*** | 1.61*** | 0.09* |
lnINV | −2.83 | −4.59*** | −14.57 | −41.87*** | 1.17*** | 0.04* |
Bolivia | ||||||
lnGDP | −2.67 | −5.22*** | −39.87*** | −54.57*** | 0.27* | 0.05* |
lnMGDP | −3.73** | −4.26*** | −12.6 | −57.69*** | 0.36* | 0.14* |
lnINV | −2.90 | −4.16*** | −22.48** | −51.28*** | 0.19* | 0.04* |
Brazil | ||||||
lnGDP | −3.40* | −5.53*** | −47.26*** | −61.69*** | 0.88*** | 0.04* |
lnMGDP | −2.20 | −4.09*** | −12.88 | −52.19*** | 0.67*** | 0.04* |
lnINV | −2.51 | −4.44*** | −19.53** | −50.67*** | 0.33* | 0.03* |
Chile | ||||||
lnGDP | −2.42 | −5.85*** | −57.49*** | −73.27*** | 0.25* | 0.03* |
lnMGDP | −0.77 | −3.59** | −3.36 | −58.90*** | 1.52*** | 0.32* |
lnINV | −2.91 | −4.44*** | −28.94*** | −58.07*** | 1.14*** | 0.02* |
Colombia | ||||||
lnGDP | −3.53** | −5.56*** | −43.34*** | −69.29*** | 0.31* | 0.02* |
lnMGDP | −2.13 | −3.68** | −9.49 | −45.49*** | 0.96*** | 0.05* |
lnINV | −3.50** | −4.66*** | −20.15*** | −52.56*** | 0.43* | 0.07* |
Dominican Republic | ||||||
lnGDP | −4.32*** | −5.55*** | −43.48*** | −58.19*** | 0.18* | 0.02* |
lnMGDP | −1.55 | −3.22* | −15.60 | −48.56*** | 2.27*** | 0.04* |
lnINV | −2.72 | −4.47*** | −18.24* | −57.87*** | 0.80*** | 0.05* |
Ecuador | ||||||
lnGDP | −2.94 | −6.18*** | −51.06*** | −69.33*** | 0.12* | 0.02* |
lnMGDP | −2.42 | −4.54*** | −22.25** | −62.01*** | 0.40* | 0.07* |
lnINV | −4.01** | −4.44*** | −16.47 | −60.26*** | 0.94*** | 0.07* |
El Salvador | ||||||
lnGDP | −3.44* | −3.72** | −26.04*** | −61.39*** | 0.43* | 0.03* |
lnMGDP | −1.52 | −3.15* | −3.43 | −42.69*** | 0.53** | 0.25* |
lnINV | −3.00 | −3.28* | −13.28 | −45.24*** | 0.10* | 0.05* |
Guatemala | ||||||
lnGDP | −2.45 | −3.80** | −13.72 | −55.08*** | 0.41* | 0.14* |
lnMGDP | −3.94** | −3.97** | −11.06 | −50.77*** | 0.36* | 0.06* |
lnINV | −2.46 | −4.01** | −16.80* | −55.61*** | 0.25* | 0.03* |
Mexico | ||||||
lnGDP | −4.18*** | −6.02*** | −35.30*** | −55.06*** | 0.78*** | 0.01* |
lnMGDP | −3.59** | −3.74** | −20.25** | −69.49*** | 0.25* | 0.10* |
lnINV | −2.89 | −4.14*** | −15.64 | −53.71*** | 0.44* | 0.05* |
Paraguay | ||||||
lnGDP | −1.90 | −4.10** | −44.72*** | −66.01*** | 0.51** | 0.02* |
lnMGDP | −2.40 | −3.76** | −9.36 | −81.82*** | 1.88*** | 0.12* |
Peru | ||||||
lnGDP | −3.81** | −5.75*** | −42.69*** | −60.86*** | 0.07* | 0.02* |
lnMGDP | −2.01 | −3.61** | −12.68 | −55.21*** | 1.98*** | 0.09* |
lnINV | −2.39 | −5.42*** | −11.35 | −50.83*** | 0.81*** | 0.15* |
Venezuela | ||||||
lnGDP | −2.86 | −4.18*** | −62.20*** | −77.58*** | 0.15* | 0.02* |
lnMGDP | −3.88** | −5.63*** | −38.15*** | −54.49*** | 1.98*** | 0.01* |
lnINV | −2.39 | −4.79*** | −19.42* | −47.04*** | 0.32* | 0.03* |