Results of cointegration test
| Cointegrating vector | Trace statistic | p-value | H0 | Conclusion |
|---|---|---|---|---|
| r = 0 | 52.88786 | 0.0000 | There is no cointegrating vector in the equation | Rejected |
| r = 1 | 19.66699 | 0.0111 | There is one cointegrating vector in the equation | Rejected |
| r = 2 | 0.641352 | 0.4232 | There are two cointegrating vectors in the equation | Accepted |
| Cointegrating vector | Max-Eigen statistic | p-value | H0 | Conclusion |
| r = 0 | 33.22087 | 0.0006 | There is no cointegrating vector in the equation | Rejected |
| r = 1 | 19.02564 | 0.0082 | There is one cointegrating vector in the equation | Rejected |
| r = 2 | 0.641352 | 0.4232 | There are two cointegrating vectors in the equation | Accepted |
| Cointegrating vector | Trace statistic | Conclusion | ||
|---|---|---|---|---|
| 52.88786 | 0.0000 | There is no cointegrating vector in the equation | Rejected | |
| 19.66699 | 0.0111 | There is one cointegrating vector in the equation | Rejected | |
| 0.641352 | 0.4232 | There are two cointegrating vectors in the equation | Accepted | |
| Cointegrating vector | Max-Eigen statistic | Conclusion | ||
| 33.22087 | 0.0006 | There is no cointegrating vector in the equation | Rejected | |
| 19.02564 | 0.0082 | There is one cointegrating vector in the equation | Rejected | |
| 0.641352 | 0.4232 | There are two cointegrating vectors in the equation | Accepted |
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