Consumption Behaviour in Zambia: The Link to Poverty Alleviation?

Series

Model

ADF¹⁵

Lags

ADF

Tτ, Tμ, τ

ADF

Φ3, Φ1

PP¹⁶

Lags

PP

LN_CONS_ZK

Trend

"0

-1.771

1.775

~

-1.696

Intercept

0

-1.650

2.722

3

-1.689

None

0

-0.152

-

3

-0.170

.....ln gdp zk...........................................................

Trend

'o.......................................

.....-3.635 **..........................

6.612 ***

.....3.................................

.....-3.378"*.............................

Intercept

0

-1.593

2.539

3

-1.333

None

0

1.566

-

3

3.323

.....LN INDTAX ZK........................................

Trend

.....1........................................

.....-4730""***....................

■■■■7.628"***.........................

.....3.................................

.....-4.059"**........................

Intercept

0

-2.216

4.911 **

3

-2.006

None

0

0.608

-

3

3.048

.....LN INV................................................................................

Trend

'o.......................................

.....-3.326 *...............................

"5.262...........................................

.....3.................................

.....-3.240"*.............................

Intercept

0

-2.287

5.232 **

3

-2.070

None

1

-0.602

-

3

-0.822

.....LN M3 ZK.................................................................

Trend

'o.......................................

.....-1.839......................................

.....1.700...........................................

.....3.................................

.....-1.925....................................

Intercept

0

-1.325

1.757

3

-1.325

None

0

-0.160

-

3

-0.156

.....ln gcons zk............................................

Trend

.....1........................................

.....-4.404***....................

■■■■6.69g"***.........................

.....3.................................

.....-4.187'"**........................

Intercept

1

-2.718 *

3.918

3

-2.033

None

4

-1.120

-

3

-0.432

.....R Lendrate...................................................

Trend

'o.......................................

.....-2.247......................................

""2.823...........................................

.....3.................................

.....-2.271.....................................

Intercept

0

-2.338

5.468 **

3

-2.401

None

0

-2.216 **

-

3

-2.253 **

.....R TRILL............................................................................

Trend

'o.......................................

.....-2.302......................................

""2.998...........................................

.....3.................................

.....-2.299....................................

Intercept

0

-2.395

5.734 **

3

-2.438

None

0

-2.143 **

-

3

-2.135 **

.....ΔlNZcons"zk.............................................

Trend

'o.......................................

.....-5.902"***....................

.....17.442"***....................

.....3.................................

.....-6.550"***..................

Intercept

0

-5.867 ***

34.419 ***

3

-5.910 ***

None

0

-5.971 ***

-

3

-6.020 ***

δln gdp zk

Trend

'o.......................................

.....-6.820"***....................

""23.274"***....................

.....3.................................

.....-7.172"***..................

Intercept

0

-6.932 ***

48.050 ***

3

-7.298 ***

None

0

-6.365 ***

-

3

-6.370 ***

.....δln indtax zk.................................

Trend

.....1........................................

.....-6.144"***....................

.....15.374"***....................

.....3.................................

.....-14.077"***.............

Intercept

1

-6.268 ***

23.984 ***

3

-14.556 ***

None

1

-6.192 ***

-

3

-6.939 ***