[Retracted] How Does Fiscal Policy Affect Bank Credit? Evidence from China

Table 1

ADF test results of each variable.

Variables	ADF statistics	value	Variables	ADF statistics	value
FE	−0.149185	0.9927		−5.918495	≤0.001
Tax	−1.695126	0.7388		−5.346693	0.0003
EFP	−1.937982	0.3129		−7.888289	≤0.001
Col	−2.193524	0.4828		−5.534170	0.0002
Liq	−0.609523	0.8593		−4.817864	0.0014
Credit	−2.207620	0.4756		−4.221218	0.0080

Note: denotes first-order difference.