Following are the results from Fisher-type unit-root test for RDI (dependent variable). How do you interpret it?
Based on Phillips-Perron tests: Ho: All panels contain unit roots Number of panels = 100 Ha: At least one panel is stationary Avg. number of periods = 10.74 AR parameter: Panel-specific Asymptotics: T -> Infinity Panel means: Included Time trend: Included Newey-West lags: 1 lag Statistic p-value Inverse chi-squared(196) P 207.1519 0.2788 Inverse normal Z 2.0005 0.9773 Inverse logit t(389) L* 0.5211 0.6987 Modified inv. chi-squared Pm 0.5633 0.2866 P statistic requires number of panels to be finite. Other statistics are suitable for finite or infinite number of panels.