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Table 4

Unit root test results of residual sequences of co-integration equations

Residual sequencesADF valueTest type (c, t, k)Test critical values
Stationary or not
1%5%10%
u0 −4.6011 (c, 0, 1) −3.6105 −2.9390 −2.6079 Yes 
u1 −6.8268 (c, 0, 1) −3.6105 −2.9390 −2.6079 Yes 
u2 −7.7600 (c, 0, 1) −3.6156 −2.9411 −2.6091 Yes 
u3 −6.1780 (c, 0, 1) −3.6156 −2.9411 −2.6091 Yes 
u4 −8.7148 (c, 0, 1) −3.6156 −2.9411 −2.6091 Yes 
u5 −5.5610 (c, 0, 1) −3.6156 −2.9411 −2.6091 Yes 
Residual sequencesADF valueTest type (c, t, k)Test critical values
Stationary or not
1%5%10%
u0 −4.6011 (c, 0, 1) −3.6105 −2.9390 −2.6079 Yes 
u1 −6.8268 (c, 0, 1) −3.6105 −2.9390 −2.6079 Yes 
u2 −7.7600 (c, 0, 1) −3.6156 −2.9411 −2.6091 Yes 
u3 −6.1780 (c, 0, 1) −3.6156 −2.9411 −2.6091 Yes 
u4 −8.7148 (c, 0, 1) −3.6156 −2.9411 −2.6091 Yes 
u5 −5.5610 (c, 0, 1) −3.6156 −2.9411 −2.6091 Yes 
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