水平值

Rating

GDP

M2

Exchangerate

Levin, Lin and Chu’s t test

H0:普通单位根

−3.2241***

−1.0039

2.2582

−1.0839

ADF Fisher Chi-Sq test

H0:个体单位根

0.1678

−2.6995***

3.1800

−3.558***

Im, Pesaran and Shin W-stat

H0:个体单位根

97.2304

133.0970***

95.5908

111.090***

PP-Fisher Chi-square

H0:个体单位根

76.4994

140.3540***

79.1236

140.3540***

一阶差分

Rating

GDP

M2

Exchangerate

Levin, Lin and Chu’s t test

H0:普通单位根

−9.0549***

−11.8070***

−4.8768***

−11.5690***

ADF Fisher Chi-Sq test

H0:个体单位根

−5.7732***

−7.7738***

−4.6001***

−5.7530***

Im, Pesaran and Shin W-stat

H0:个体单位根

182.1550***

234.6050***

172.5310***

204.6000***

PP-Fisher Chi-square

H0:个体单位根

256.9640***

384.2390***

202.8080***

364.2360***