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Universal Journal of Finance and Economics
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  5. Volume 3, Number 1, 2023
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  7. Table 2

Structural Vector Autoregressive Analysis of Crude Oil Price Shocks on Ghana’s Economy

Table 2.

AugmentedDickey-Fuller test

Variable

ADF Test

Level with trend

1st Difference

Order of integration

COP

-1.201

-5.368***

I(1)

INFL

-0.434

-3.623***

I(1)

EXCH

-1.386

-3.669***

I(1)

IR

-2.059

-3.623***

I(1)

GDPgr

-1.037

-7.080***

I(1)

Critical Value 1%

-3.577723

-3.581152

 

Critical Value 5%

-2.925169

-2.926622

 

Critical Value 10%

-2.600658

-2.601424

 

*, ** and *** represent 1%, 5% and 10% levels of respectively; Source: Author’s computation
*, ** and *** represent 1%, 5% and 10% levels of respectively; Source: Author’s computation