# Table 2 Test result of unit root of variables

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)
1. Note: the brackets of have set the test form. C is constant, T is trend item and the last item is lagging order. *, ** and *** represents 10, 5, and 1% significant level respectively. Since the variable of proportion of condition grant has only part of annual data, there is no unit root test