Individual effects

Individual effects and individual linear trend

Statistic

Prob.

Obs.

Statistic

Prob.

Obs.

Null: unit root (assumes common unit root process)

Levin, Lin & Chu t

−7.94

0.000

294

−6.29

0.000

186

Breitung t-stat

-

-

-

5.25

1.000

135

Null: unit root (assumes individual unit root process)

Im, Pesaran and Shin W-stat

-

-

294

-

-

186

ADF—Fisher Chi-square

85.71

0.808

294

36.39

0.996

186

PP—Fisher Chi-square

160.76

0.000

294

70.84

0.207

186