Table 2: Tests for unit root in variables.

ADF test
(with intercept)
KPSS test
(with intercept)
VariablesLevels DifferenceLevels Difference

-1.9771-4.1749 0.34900.2035
-2.6811-5.2134 0.23000.1931
-0.9308-4.3702 0.32120.1571
0.3243-3.0658 0.42140.1695
-1.1275-6.9149 0.34370.1741

Significance at 1%, significance at 5%, and significance at 10%.