Table A4 Cointegration test (Engel and... | Emerald Publishing

Table A4

Cointegration test (Engel and Granger)

	Annual		Quarterly
	Value	Prob	Value	Prob
CAC
Belize	−3.3465	0.1603	−2.3370	0.5764
Costa Rica	−3.3286	0.1670	−1.5779	0.8790
El Salvador	−2.8600	0.3350	−2.5528	0.4678
Guatemala	−1.4123	0.9149	−2.5233	0.4812
Honduras	−2.2812	0.6082	−1.6550	0.8586
Nicaragua	−2.6212	0.4408	−3.6772	0.1753
Panama	−3.2794	0.1791	−2.1039	0.6898
Dominican Rep.	−2.7824	0.3654	−2.0933	0.6947
SA
Argentina	−2.3457	0.5765	−2.5517	0.4688
Bolivia	−2.2169	0.6394	−1.6394	0.8629
Chile	−3.3757	0.1526	−3.4556	0.1181
Colombia	−2.9695	0.2859	−2.2889	0.6005
Ecuador	−2.2469	0.6248	−3.000	0.2604
Paraguay	−2.1668	0.6631	−1.8198	0.8063
Peru	−3.5028	0.1224	−2.2803	0.6049
Uruguay	−3.0457	0.2601	−3.5442	0.0992
Venezuela	−2.6931	0.4059	−2.2736	0.6096

	Annual		Quarterly
	Value	Prob	Value	Prob
CAC
Belize	−3.3465	0.1603	−2.3370	0.5764
Costa Rica	−3.3286	0.1670	−1.5779	0.8790
El Salvador	−2.8600	0.3350	−2.5528	0.4678
Guatemala	−1.4123	0.9149	−2.5233	0.4812
Honduras	−2.2812	0.6082	−1.6550	0.8586
Nicaragua	−2.6212	0.4408	−3.6772	0.1753
Panama	−3.2794	0.1791	−2.1039	0.6898
Dominican Rep.	−2.7824	0.3654	−2.0933	0.6947
SA
Argentina	−2.3457	0.5765	−2.5517	0.4688
Bolivia	−2.2169	0.6394	−1.6394	0.8629
Chile	−3.3757	0.1526	−3.4556	0.1181
Colombia	−2.9695	0.2859	−2.2889	0.6005
Ecuador	−2.2469	0.6248	−3.000	0.2604
Paraguay	−2.1668	0.6631	−1.8198	0.8063
Peru	−3.5028	0.1224	−2.2803	0.6049
Uruguay	−3.0457	0.2601	−3.5442	0.0992
Venezuela	−2.6931	0.4059	−2.2736	0.6096

Note(s): The null hypothesis assumes that series are not cointegrated

Source(s): Own elaboration