Table 2 Test result of unit root of variables
From: Transfer payment structure and local government fiscal efficiency: evidence from China
Variable | LLC | IPS | ADF-Fisher | PP-Fisher | Breitung |
|---|---|---|---|---|---|
Fiscal expenditure efficiency | −6.17451*** (C,T,1) | −0.15025 (C,T,1) | 84.1437** (C,T,1) | 154.155*** (C,T,1) | 4.06919 (C,T,1) |
Proportion of tax refund | −23.7420*** (C,T,1) | −3.75580*** (C,T,1) | 152.458*** (C,T,1) | 109.134*** (C,T,1) | 0.04343 (C,T,1) |
Proportion of financial transfer payment | −7.17973*** (C,T,1) | 0.18014 (C,T,1) | 59.1414 (C,T,1) | 185.491*** (C,T,1) | −2.91290*** (C,T,1) |
Population density | −9.32558*** (C,0,1) | 1.44065 (C,T,1) | 49.5195 (C,T,1) | 296.060*** (C,T,1) | 1.01631 (C,T,1) |
Per capita GDP | −7.76914*** (C,T,1) | 0.02933 (C,T,1) | 129.052*** (0,0,1) | 222.806*** (0,0,1) | −0.15045 (C,T,1) |
Education level | −9.83629*** (C,T,1) | −0.59993 (C,T,1) | 77.9654* (C,T,1) | 161.307*** (C,T,1) | −2.49907*** (C,T,1) |
Proportion of budget revenue | −15.4158*** (0,0,1) | 0.08470 (0,0,1) | 251.691*** (C,T,1) | 380.493*** (C,T,1) | −0.13604 (C,T,1) |
Degree of marketization | −14.5442*** (C,T,1) | 0.28879 (C,T,1) | 68.8743 (C,T,1) | 81.1704* (C,T,1) | 3.39272 (C,T,1) |