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Lampiran A
Unit Root Test:
GM1
ADF Test Statistic

-4.484479

GM1 (-1)
ADF Test Statistic

-4.455292

GM1 (-2)
ADF Test Statistic

-4.297340

GM1 (-3)
ADF Test Statistic

-4.157709

GM2
ADF Test Statistic

-5.057017

GM2 (-1)
ADF Test Statistic

-4.916309

GM2 (-2)
ADF Test Statistic

-4.786500

GM2 (-3)
ADF Test Statistic

-4.603846

GMB
ADF Test Statistic

-5.085761

1% Critical Value*
-3.7667
5% Critical Value
-3.0038
10% Critical Value
-2.6417
*MacKinnon critical values for rejection of hypothesis of a unit root.

1% Critical Value*
-3.7856
5% Critical Value
-3.0114
10% Critical Value
-2.6457
*MacKinnon critical values for rejection of hypothesis of a unit root.

1% Critical Value*
-3.8067
5% Critical Value
-3.0199
10% Critical Value
-2.6502
*MacKinnon critical values for rejection of hypothesis of a unit root.

1% Critical Value*
-3.8304
5% Critical Value
-3.0294
10% Critical Value
-2.6552
*MacKinnon critical values for rejection of hypothesis of a unit root.

1% Critical Value*
-3.7667
5% Critical Value
-3.0038
10% Critical Value
-2.6417
*MacKinnon critical values for rejection of hypothesis of a unit root.

1% Critical Value*
-3.7856
5% Critical Value
-3.0114
10% Critical Value
-2.6457
*MacKinnon critical values for rejection of hypothesis of a unit root.

1% Critical Value*
-3.8067
5% Critical Value
-3.0199
10% Critical Value
-2.6502
*MacKinnon critical values for rejection of hypothesis of a unit root.

1% Critical Value*
-3.8304
5% Critical Value
-3.0294
10% Critical Value
-2.6552
*MacKinnon critical values for rejection of hypothesis of a unit root.

1% Critical Value*

-3.7667
5% Critical Value
-3.0038
10% Critical Value
-2.6417
*MacKinnon critical values for rejection of hypothesis of a unit root.

GM1ISL
ADF Test Statistic

-4.573591

GM1ISL (-1)
ADF Test Statistic

-4.451509

GM1ISL (-2)
ADF Test Statistic

-4.408336

GM1ISL (-3)
ADF Test Statistic

-4.251588

GM2ISL
ADF Test Statistic

-4.630204

GM2ISL (-1)
ADF Test Statistic

-4.525369

GM2ISL (-2)
ADF Test Statistic

-4.514348

GM2ISL (-3)
ADF Test Statistic

-4.365856

GMBISL
ADF Test Statistic

-4.574466

1% Critical Value*
-3.7667
5% Critical Value
-3.0038
10% Critical Value
-2.6417
*MacKinnon critical values for rejection of hypothesis of a unit root.

1% Critical Value*
-3.7856
5% Critical Value
-3.0114
10% Critical Value
-2.6457
*MacKinnon critical values for rejection of hypothesis of a unit root.

1% Critical Value*
-3.8067
5% Critical Value
-3.0199
10% Critical Value
-2.6502
*MacKinnon critical values for rejection of hypothesis of a unit root.

1% Critical Value*
-3.8304
5% Critical Value
-3.0294
10% Critical Value
-2.6552
*MacKinnon critical values for rejection of hypothesis of a unit root.

1% Critical Value*
-3.7667
5% Critical Value
-3.0038
10% Critical Value
-2.6417
*MacKinnon critical values for rejection of hypothesis of a unit root.

1% Critical Value*
-3.7856
5% Critical Value
-3.0114
10% Critical Value
-2.6457
*MacKinnon critical values for rejection of hypothesis of a unit root.

1% Critical Value*
-3.8067
5% Critical Value
-3.0199
10% Critical Value
-2.6502
*MacKinnon critical values for rejection of hypothesis of a unit root.

1% Critical Value*
-3.8304
5% Critical Value
-3.0294
10% Critical Value
-2.6552
*MacKinnon critical values for rejection of hypothesis of a unit root.

1% Critical Value*
5% Critical Value
10% Critical Value

-3.7667
-3.0038
-2.6417
*MacKinnon critical values for rejection of hypothesis of a unit root.

GCPI
ADF Test Statistic

-2.759076

GCREDIT
ADF Test Statistic

-4.385808

GLIKUID
ADF Test Statistic

-5.267845

GCREDIT ISL
ADF Test Statistic

-7.234138

GLIKUID ISL
ADF Test Statistic

-4.574174

1% Critical Value*
-3.7667
5% Critical Value
-3.0038
10% Critical Value
-2.6417
*MacKinnon critical values for rejection of hypothesis of a unit root.

1% Critical Value*
-3.7667
5% Critical Value
-3.0038
10% Critical Value
-2.6417
*MacKinnon critical values for rejection of hypothesis of a unit root.

1% Critical Value*
-3.7667
5% Critical Value
-3.0038
10% Critical Value
-2.6417
*MacKinnon critical values for rejection of hypothesis of a unit root.

1% Critical Value*
-3.7667
5% Critical Value
-3.0038
10% Critical Value
-2.6417
*MacKinnon critical values for rejection of hypothesis of a unit root.

1% Critical Value*
-3.7667
5% Critical Value
-3.0038
10% Critical Value
-2.6417
*MacKinnon critical values for rejection of hypothesis of a unit root.

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Lampiran unit root test

  • 1. Lampiran A Unit Root Test: GM1 ADF Test Statistic -4.484479 GM1 (-1) ADF Test Statistic -4.455292 GM1 (-2) ADF Test Statistic -4.297340 GM1 (-3) ADF Test Statistic -4.157709 GM2 ADF Test Statistic -5.057017 GM2 (-1) ADF Test Statistic -4.916309 GM2 (-2) ADF Test Statistic -4.786500 GM2 (-3) ADF Test Statistic -4.603846 GMB ADF Test Statistic -5.085761 1% Critical Value* -3.7667 5% Critical Value -3.0038 10% Critical Value -2.6417 *MacKinnon critical values for rejection of hypothesis of a unit root. 1% Critical Value* -3.7856 5% Critical Value -3.0114 10% Critical Value -2.6457 *MacKinnon critical values for rejection of hypothesis of a unit root. 1% Critical Value* -3.8067 5% Critical Value -3.0199 10% Critical Value -2.6502 *MacKinnon critical values for rejection of hypothesis of a unit root. 1% Critical Value* -3.8304 5% Critical Value -3.0294 10% Critical Value -2.6552 *MacKinnon critical values for rejection of hypothesis of a unit root. 1% Critical Value* -3.7667 5% Critical Value -3.0038 10% Critical Value -2.6417 *MacKinnon critical values for rejection of hypothesis of a unit root. 1% Critical Value* -3.7856 5% Critical Value -3.0114 10% Critical Value -2.6457 *MacKinnon critical values for rejection of hypothesis of a unit root. 1% Critical Value* -3.8067 5% Critical Value -3.0199 10% Critical Value -2.6502 *MacKinnon critical values for rejection of hypothesis of a unit root. 1% Critical Value* -3.8304 5% Critical Value -3.0294 10% Critical Value -2.6552 *MacKinnon critical values for rejection of hypothesis of a unit root. 1% Critical Value* -3.7667
  • 2. 5% Critical Value -3.0038 10% Critical Value -2.6417 *MacKinnon critical values for rejection of hypothesis of a unit root. GM1ISL ADF Test Statistic -4.573591 GM1ISL (-1) ADF Test Statistic -4.451509 GM1ISL (-2) ADF Test Statistic -4.408336 GM1ISL (-3) ADF Test Statistic -4.251588 GM2ISL ADF Test Statistic -4.630204 GM2ISL (-1) ADF Test Statistic -4.525369 GM2ISL (-2) ADF Test Statistic -4.514348 GM2ISL (-3) ADF Test Statistic -4.365856 GMBISL ADF Test Statistic -4.574466 1% Critical Value* -3.7667 5% Critical Value -3.0038 10% Critical Value -2.6417 *MacKinnon critical values for rejection of hypothesis of a unit root. 1% Critical Value* -3.7856 5% Critical Value -3.0114 10% Critical Value -2.6457 *MacKinnon critical values for rejection of hypothesis of a unit root. 1% Critical Value* -3.8067 5% Critical Value -3.0199 10% Critical Value -2.6502 *MacKinnon critical values for rejection of hypothesis of a unit root. 1% Critical Value* -3.8304 5% Critical Value -3.0294 10% Critical Value -2.6552 *MacKinnon critical values for rejection of hypothesis of a unit root. 1% Critical Value* -3.7667 5% Critical Value -3.0038 10% Critical Value -2.6417 *MacKinnon critical values for rejection of hypothesis of a unit root. 1% Critical Value* -3.7856 5% Critical Value -3.0114 10% Critical Value -2.6457 *MacKinnon critical values for rejection of hypothesis of a unit root. 1% Critical Value* -3.8067 5% Critical Value -3.0199 10% Critical Value -2.6502 *MacKinnon critical values for rejection of hypothesis of a unit root. 1% Critical Value* -3.8304 5% Critical Value -3.0294 10% Critical Value -2.6552 *MacKinnon critical values for rejection of hypothesis of a unit root. 1% Critical Value* 5% Critical Value 10% Critical Value -3.7667 -3.0038 -2.6417
  • 3. *MacKinnon critical values for rejection of hypothesis of a unit root. GCPI ADF Test Statistic -2.759076 GCREDIT ADF Test Statistic -4.385808 GLIKUID ADF Test Statistic -5.267845 GCREDIT ISL ADF Test Statistic -7.234138 GLIKUID ISL ADF Test Statistic -4.574174 1% Critical Value* -3.7667 5% Critical Value -3.0038 10% Critical Value -2.6417 *MacKinnon critical values for rejection of hypothesis of a unit root. 1% Critical Value* -3.7667 5% Critical Value -3.0038 10% Critical Value -2.6417 *MacKinnon critical values for rejection of hypothesis of a unit root. 1% Critical Value* -3.7667 5% Critical Value -3.0038 10% Critical Value -2.6417 *MacKinnon critical values for rejection of hypothesis of a unit root. 1% Critical Value* -3.7667 5% Critical Value -3.0038 10% Critical Value -2.6417 *MacKinnon critical values for rejection of hypothesis of a unit root. 1% Critical Value* -3.7667 5% Critical Value -3.0038 10% Critical Value -2.6417 *MacKinnon critical values for rejection of hypothesis of a unit root.