Research Article
Does Indian Commodity Futures Markets Exhibit Price Discovery? An Empirical Analysis
Table 6
Unit root test of spot and futures prices (level and difference) for the selected commodities.
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Note. The Fuller critical values for ADF test at 1%, 5%, and 10% are -3.43, −2.86, −2.57, respectively for constant. The Fuller critical values for ADF test at 1%, 5%, and 10% are -3.96, −3.41, and −3.12, respectively for constant + time trend (denoted by I and T). The Fuller critical values for ADF test at 1%, 5%, and 10% are −2.58, −1.95, and −1.62, respectively for no constant or time trend (denoted by none). |