Table 2 Johansen cointegration test... | Emerald Publishing

Table 2

Johansen cointegration test

Hypothesized no. of CE(s)	Trace statistic	Critical value 0.05	Prob.**	Max eigen statistic	Critical value 0.05	Prob
None*	266.1652	95.75366	0.0000	116.4377	40.07757	0.0000*
At most 1*	149.7276	69.81889	0.0000	66.57876	33.87687	0.0000*
At most 2*	83.14880	47.85613	0.0000	49.04529	27.58434	0.0000*
At most 3	34.10351	29.79707	0.0150	22.63622	21.13162	0.0305**
At most 4	11.46729	15.49471	0.1843	11.46728	14.26460	0.1323

Hypothesizedno. of CE(s)	Trace statistic	Critical value 0.05	Prob.**	Max eigen statistic	Critical value 0.05	Prob
None*	266.1652	95.75366	0.0000	116.4377	40.07757	0.0000*
At most 1*	149.7276	69.81889	0.0000	66.57876	33.87687	0.0000*
At most 2*	83.14880	47.85613	0.0000	49.04529	27.58434	0.0000*
At most 3	34.10351	29.79707	0.0150	22.63622	21.13162	0.0305**
At most 4	11.46729	15.49471	0.1843	11.46728	14.26460	0.1323

Source(s): Researchers' computation using EViews and data from WDI and NBS; * and ** represent significant at 1% and 5%, respectively; CE = Coefficients