Oil shocks and the Economic Growth: A Study for Oil-importing and Exporting Countries in the Time of Covid-19
Table 4.
Results for Italy and France.
|
| |
Italy |
France |
|
|
| Single root test |
Significance |
Dickey-Fuller test |
Significance |
Dickey-Fuller test |
|
|
| GDP |
1% level |
-4.22 |
-4.44 |
1% level |
-4.22 |
-2.76 |
|
| Variable test |
5% level |
-3.53 |
5% level |
-3.53 |
|
| 10% level |
-3.20 |
10% level |
-3.20 |
|
| Inflation |
1% level |
|
|
1% level |
-2.63 |
-9.20 |
|
| Variable test |
5% level |
|
5% level |
-1.95 |
|
| 10% level |
|
10% level |
-1.61 |
|
| Exchange rate |
1% level |
-2.63 |
-1.90 |
1% level |
-2.63 |
-4,966797 |
|
| Variable test |
5% level |
-1.95 |
5% level |
-1.95 |
|
| 10% level |
-1.61 |
10% level |
-1.61 |
|
| Oil price |
1% level |
-2.63 |
-4.86 |
1% level |
-2.63 |
-6.09 |
|
| Variable test |
5% level |
-1.95 |
5% level |
-1.95 |
|
| 10% level |
-1.61 |
10% level |
-1.61 |
|
| wages |
1% level |
-2.63 |
-4.34 |
1% level |
-2.63 |
-4.34 |
|
| Variable test |
5% level |
-1.95 |
5% level |
-1.95 |
|
| 10% level |
-1.61 |
10% level |
-1.61 |
|
| Covid deaths |
1% level |
-8.12 |
-7.99 |
1% level |
-7.63 |
-7.55 |
|
| Variable test |
5% level |
-7.94 |
5% level |
-6.98 |
|
| 10% level |
-7.60 |
10% level |
-6.55 |
|
|
|
|
