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The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

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Table 10 Unrestricted co-integration rank test result (maximum eigenvalue)

From: The impact of stock market manipulation on Nigeria’s economic performance

Unrestricted co-integration rank test (maximum eigenvalue)
Hypothesized no. of CE (s) Eigenvalue Max-eigen statistic 0.05
Critical value
Prob.**
r ≤ 0 0.668457* 57.40794 33.87687 0.0000
r ≤ 1 0.630122* 51.71828 27.58434 0.0000
r ≤ 2 0.294112 18.11153 21.13162 0.1257
r ≤ 3 0.279642 17.15635* 14.26460 0.0176
r ≤ 4 0.028529 1.505093 3.841466 0.2199
  1. Source: Author’s E-view 9.5 Compilation
  2. Max-eigenvalue test indicates 3 co-integrating eqn(s) at the 0.05 level
  3. *Rejection of the hypothesis at the 0.05 level
  4. **Mackinnon–Haug–Michelis (1999) P-values
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