Oil shocks and the Economic Growth: A Study for Oil-importing and Exporting Countries in the Time of Covid-19
Table 5.
Results for USA and China.
|
| |
USA |
China |
|
|
| Single root test |
Significance |
Dickey-Fuller test |
Significance |
Dickey-Fuller test |
|
|
| GDP |
1% level |
-4.22 |
-4.66 |
1% level |
-4.23 |
-4.00 |
|
| Variable test |
5% level |
-3.53 |
5% level |
-3.54 |
|
| 10% level |
-3.20 |
10% level |
-3.20 |
|
| Inflation |
1% level |
-2.63 |
-1.02 |
1% level |
-2.63 |
-3.31 |
|
| Variable test |
5% level |
-1.95 |
5% level |
-1.95 |
|
| 10% level |
-1.61 |
10% level |
-1.61 |
|
| Exchange rate |
1% level |
-4.39 |
-4.77 |
1% level |
|
|
|
| Variable test |
5% level |
-3.61 |
5% level |
|
|
| 10% level |
-3.24 |
10% level |
|
|
| Oil price |
1% level |
-4.27 |
-2.79 |
1% level |
-2.63 |
-4.52 |
|
| Variable test |
5% level |
-3.55 |
5% level |
-1.95 |
|
| 10% level |
-3.21 |
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 |
-7.11 |
-6.97 |
1% level |
-8.21 |
-7.99 |
|
| Variable test |
5% level |
-6.94 |
5% level |
-7.53 |
|
| 10% level |
-6.60 |
10% level |
-7.19 |
|
|
|
|
