Table 3: ADF and PP unit root test.

VariablesAugmented dickey fuller (ADF) Phillip Perron (PP) Decision (order of integration)
LevelFirst differenceLevelFirst difference

NEXP−1.612 −5.161**−1.336−2.612**I
RPCEXP 0.835−5.937* 0.657−5.937*I
REXP0.952−5.848* 0.766−5.847*I

*, **,** are significant at one percent, five percent and ten percent level.
GDP: gross domestic product, NEXP: nominal expenditure, RPCEXP: real per-capita expenditure, REXP: real expenditure, RGDP: real GDP, RPCGDP: real per-capita GDP.