Co-integration test for the variables (remittances, real GDP)
| Cointegration Test – Engle–Granger | ||
| Equation: UNTITLED | ||
| Specification: REM RGDP C | ||
| Cointegrating equation deterministics: C | ||
| Null hypothesis: Series are not cointegrated | ||
| Automatic lag specification (lag = 1 based on Schwarz Info Criterion maxlag = 9) | ||
| Value | Prob.* | |
| Engle-Granger tau-statistic | −1.566319 | 0.7378 |
| Engle-Granger z-statistic | −11.69075 | 0.2162 |
| Cointegration Test – Engle–Granger | ||
| Equation: UNTITLED | ||
| Specification: REM RGDP C | ||
| Cointegrating equation deterministics: C | ||
| Null hypothesis: Series are not cointegrated | ||
| Automatic lag specification (lag = 1 based on Schwarz Info Criterion maxlag = 9) | ||
| Value | Prob.* | |
| Engle-Granger tau-statistic | −1.566319 | 0.7378 |
| Engle-Granger | −11.69075 | 0.2162 |
Note:
*MacKinnon (1996) p-values