How Energy Sector Reacted to COVID-19 Pandemic? Empirical Evidence from an Emerging Market Economy
Table 6
The outcomes of the Zivot–Andrews unit root test.
Variables
Level
1st difference
t-statistic
Prob.
Chosen breakpoint
t-statistic
Prob.
Chosen breakpoint
BET-NG
−11.60250
0.01458
10/29/2021
−10.16953
0.36943
9/28/2021
SNG
−10.09328
0.10998
10/28/2021
−8.84880
0.39676
11/11/2021
EL
−11.14620
0.03227
10/28/2021
−7.83243
0.31284
11/22/2021
TGN
−12.34624
0.00983
11/05/2021
−9.03870
0.11226
11/24/2021
TEL
−10.82827
0.09506
10/26/2021
−8.09940
0.04814
10/22/2021
EEX-B
−9.51280
0.04077
10/25/2021
−9.62517
0.18050
10/22/2021
EEX-P
−9.47839
0.21478
10/11/2021
−11.07540
0.17081
10/22/2021
APX
−8.48267
0.03560
10/14/2021
−10.47777
0.08917
10/08/2021
LNGI
−11.55259
0.00709
10/07/2021
−8.20949
0.02625
10/04/2021
D (CNW)
−9.57362
0.00002
8/23/2021
−15.98563
0.34203
9/16/2021
CNE
−2.45574
0.00130
10/19/2021
−6.62953
0.02393
10/06/2021
Source: author’s own work. Notes: null hypothesis: each series has a unit root with a structural break in the intercept. Break included in the intercept. 1% critical value: −5.34.5% critical value: −4.93.10% critical value: −4.58. For the definition of variables, please see Table 2.
