Skip to main content

Table 5 Results of unit root test

From: Does innovation promote economic growth? Evidence from European countries

Countries Variables
PAR PAN RDE RRD HTE STJ GDP
  LD/FD LD/FD LD/FD LD/FD LD/FD LD/FD LD/FD
Austria 0.14/−5.40* 1.82/−7.46* 3.81/−2.39** −0.67/−3.22* 1.57/−5.10* −1.30/−2.64** −0.74/−5.64*
Belgium 0.05/−4.65* 1.06/−5.89* 1.81/−2.56** −0.62/−2.46** 2.28/−2.96* −1.32/−10.0* −0.54/−5.84*
Czech Republic −0.23/−2.33** 0.52/−2.36** 2.85/−1.89*** −1.31/−2.73** −0.43/−2.06*** −0.69/−4.03* −0.82/−6.61*
Denmark −0.40/−5.90* 0.62/−6.66* 1.87/−1.98*** −0.99/−5.07* −1.64/−6.91* −0.34/−4.42* −0.68/−7.68*
Finland 1.02/−4.07* 0.92/−3.91* −0.22/−1.65*** 0.43/−3.33* −0.49/−3.32* −1.25/−12.5* −0.55/−3.49*
France −0.31/−5.96* 0.63/−2.90* −0.09/−3.52* 1.02/−5.83* 1.75/−5.14* −0.76/−3.74* −0.74/−5.73*
Germany −1.11/−2.44** −1.21/−3.09* 3.12/−2.44** −1.63/−2.28** 1.99/−3.55* −0.38/−3.81* −1.16/−4.60*
Greece −1.06/−5.36* 1.23/−5.27* –/– –/– −1.56/−6.67* −0.88/−2.39*** 0.80/−3.63*
Hungary 1.63/−2.96* 0.73/−3.54* −1.12/−2.84** −1.79/−5.70* 1.41/−4.81* −1.16/−4.44* −1.40/−4.71*
Ireland 1.90/−2.83* 0.69/−3.75* 1.43/−1.88*** −3.93/−1.88*** −0.62/−2.96* −0.77/−2.42** −0.80/−3.12*
Italy 0.15/−3.03* −0.94/−4.40* 1.46/−2.65** −1.13/−3.88* 0.90/−7.60* −0.29/−2.32** −0.92/−6.04*
Netherlands 0.04/−4.52* 0.89/−3.21* 0.43/−2.47** −1.54/−4.54* 1.08/−3.96* −1.91/−2.23** −0.65/−5.87*
Norway 0.17/−6.18* −0.70/−2.83** 0.04/−2.47** 0.10/−2.72** −0.24/−5.46* −0.43/−3.54* −0.23/−5.89*
Poland 0.22/−3.34* 0.47/−3.75* −0.90/−2.02** −2.49/−4.00* −0.95/−2.37** −0.46/−1.87*** −0.33/−5.20*
Portugal −1.81/−4.83* 0.71/−3.88* −1.59/−1.59*** −3.54/−1.84*** −2.10/−4.74* −0.90/−2.88* −1.10/−5.81*
Romania 0.80/−4.88* 0.47/−4.10* 0.23/−2.70** 0.82/−4.02* −4.62/−2.51** −1.92/−5.11* 1.58/−4.88*
Spain −0.78/−5.21* 2.30/−4.59* −1.67/−2.14** −2.66/−2.66** −0.93/−3.69* −0.54/−2.53** −0.67/−6.30*
Sweden 1.08/−3.28* 1.53/−5.36* −1.27/−4.47* 0.14/−3.80* −0.74/−4.93* −1.46/−1.94*** −2.32/−7.96*
United Kingdom 0.90/−2.25** −0.08/−2.32** −0.54/−4.16* −1.11/−2.50** −0.97/−2.18*** −1.08/−4.06* −0.69/−6.84*
European panel# 50.5/136.7* 14.8/129.1* 23.4/122.7* 18.0/95.4* 50.7/144.1* 113.3/104.1* 34.2/197.5*
  1. PAR is number of patents by residents, PAN is number of patents by non-residents, RDE is research and development expenditure, RRD is researchers in research and development activities, HTE is high-technology exports, STJ is scientific and technical journal articles, and GDP is per capita economic growth. The investigation is done at three levels—no trend and intercept, with intercept, and with both intercept and trend. The results are more or less uniform; however, the reported statistics in the table present the ADF statistics at no trend and no intercept
  2. *Statistical significance at 1% level; **statistical significance at 5% level; ***statistical significance at 10% level
  3. #The reported statistics are calculated at the panel level