| 变量 | LLC | IPS | ADF-Fisher | PP-Fisher | ||||
|
| Statistic | Prob | Statistic | Prob | Statistic | Prob | Statistic | Prob |
| Yij | −2.163 | 0.015 | −0.750 | 0.227 | 16.595 | 0.166 | 14.193 | 0.289 |
| D(Yij) | −3.055 | 0.001 | −4.211 | 0.000 | 35.097 | 0.001 | 60.805 | 0.000 |
| gdpi | −5.043 | 0.000 | −1.464 | 0.072 | 21.798 | 0.040 | 29.393 | 0.003 |
| gdpj | −5.991 | 0.000 | −5.126 | 0.000 | 47.094 | 0.000 | 44.761 | 0.000 |
| Peopi | −0.623 | 0.267 | 0.476 | 0.683 | 9.564 | 0.654 | 12.164 | 0.433 |
| D(Peopi) | −42.725 | 0.000 | −20.636 | 0.000 | 50.521 | 0.000 | 49.002 | 0.000 |
| Peopj | −7.373 | 0.000 | −12.122 | 0.000 | 54.202 | 0.000 | 68.291 | 0.000 |
| Exrateij | −6.320 | 0.000 | −6.222 | 0.000 | 36.590 | 0.000 | 20.226 | 0.027 |
| mottonj | −7.905 | 0.000 | −6.648 | 0.000 | 38.104 | 0.000 | 37.382 | 0.000 |
| Pricej | −2.005 | 0.023 | −1.020 | 0.154 | 12.387 | 0.260 | 15.440 | 0.117 |
| D(pricej) | −5.542 | 0.000 | −3.932 | 0.000 | 33.879 | 0.000 | 63.662 | 0.000 |