Group unit root test: Summary

Series: IF1201, HS300

Sample: 1978 2009

Exogenous variables: Individual effects

Automatic selection of maximum lags

Automatic selection of lags based on SIC: 0

Newey-West bandwidth selection using Bartlett kernel

Balanced observations for each test

Cross-

Method

Statistic

Prob.**

sections

Obs

Null: Unit root (assumes common unit root process)

Levin, Lin & Chu t*

-0.37272

0.3547

2

62

Null: Unit root (assumes individual unit root process)

Im, Pesaran and Shin W-stat

1.47925

0.9305

2

62

ADF - Fisher Chi-square

0.61829

0.9610

2

62

PP - Fisher Chi-square

0.31447

0.9889

2

62

** Probabilities for Fisher tests are computed using an asymptotic Chi

        -square distribution. All other tests assume asymptotic normality.