Smooth transition regression model relating inflation to economic growth in Tunisia

Journal of Economic Structures

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

Table 3 Unit-root test results

Models	GDPG	ACT	INV	INF	Credit	Trade
Panel A: at level
A
Break date	1981	2005	1979	1986	1979	1977
t-Statistic	− 8.318***	− 5.181*	− 5.900**	− 5.036*	− 3.980	− 4.611
B
Break date	1981	1996	1979	2016	2002	1977
t-Statistic	− 8.376***	− 5.654**	− 6.099**	− 3.535	− 4.138	− 4.623
C
Break date	2008	2006	1977	2016	1981	1974
t-Statistic	− 2.740	− 3.548	− 4.050	− 3.462	− 3.468	− 3.947
Decision	NS	NS	NS	NS	NS	NS
Panel B: at first difference
A
Break date	1971	2004	1981	1975	1985	1980
t-Statistic	− 10.151***	− 7.891***	− 6.021***	− 8.829***	− 7.143***	− 7.185***
B
Break date	1981	2004	1981	1994	2007	1987
t-Statistic	− 8.881***	− 7.185***	− 6.139**	− 8.647***	− 7.334***	− 7.087***
C
Break date	1972	1997	1974	1970	2018	1991
t-Statistic	− 8.576***	− 5.484***	− 5.422**	− 9.157***	− 7.281***	− 4.714*
Decision	S	S	S	S	S	S

The critical values at 1%, 5% and 10%, respectively, for model A are (− 5.92), (− 5.23) and (− 4.92), for model B (− 6.32), (− 5.59) and (− 5.29) for the C model (− 5.45), (− 4.83) and (− 4.48)
NS not stationary, S stationary
*, ** and *** represent the significance at 10%, 5% and 1%