Table VI Johansen’s cointegration test...

Table VI

Johansen’s cointegration test (trace) results

			5 percent	1 percent
Hypothesized no. of CE(s)	Eigenvalue	Trace statistic	Critical value	Critical value
None**	0.499212	180.2803	146.76	158.49
At most 1	0.273951	113.1978	114.90	124.75
At most 2	0.253972	82.14437	87.31	96.58
At most 3	0.194515	53.72418	62.99	70.05
At most 4	0.162728	32.74204	42.44	48.45
At most 5	0.105896	15.51428	25.32	30.45
At most 6	0.046873	4.656729	12.25	16.26

			5 percent	1 percent
Hypothesized no. of CE(s)	Eigenvalue	Trace statistic	Critical value	Critical value
None**	0.499212	180.2803	146.76	158.49
At most 1	0.273951	113.1978	114.90	124.75
At most 2	0.253972	82.14437	87.31	96.58
At most 3	0.194515	53.72418	62.99	70.05
At most 4	0.162728	32.74204	42.44	48.45
At most 5	0.105896	15.51428	25.32	30.45
At most 6	0.046873	4.656729	12.25	16.26

Notes: Trace test indicates 1 cointegrating equation(s) at both 5 and 1 percent levels, respectively. (**)Denotes rejection of the hypothesis at the 5 percent (1 percent) level

Source: Computed using Eviews 9.0 Package

[ViewLarge]

Sharing Unavailable