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The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

Table 2 Panel unit root test

From: Determinants of current account imbalance in the global economy: a dynamic panel analysis

Variables

CAB (% of GDP)

Real GDP growth rate

∆ REER

NFA (% of GDP)

Openness of trade

Levin–Lin–Chu (LLC)

−11.06***

−30.62***

−32.64***

−5.19***

−10.50***

Im–Pesaran–Shin (IPS)

−8.61***

−31.09***

−32.43***

−3.19**

−7.15***

  1. Panel unit root is not tested for commodity price index, de jure capital openness and exchange rate stability index. These variables are containing either index or dummy (0 and 1) value, which is irrelevant for the test in this respect
  2. *** Significant at 1 %; ** significant at 5 %; * significant at 10 %