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

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Table 9 Unrestricted co-integrated rank results (trace)

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

Hypothesized no. of CE (s) Eigenvalue Trace statistic 0.05
Critical value
Prob**
r ≤ 0 0.668457* 145.7992 69.81889 0.0000
r ≤ 1 0.630122* 88.39126 47.85613 0.0000
r ≤ 2 0.294112* 36.67298 29.79707 0.0069
r ≤ 3 0.279642* 18.56145 15.49471 0.0167
r ≤ 4 0.028529 1.505093 3.841466 0.2199
  1. Source: Author’s E-view 9.5 Compilation
  2. Trace test indicates 4 co-integrating eqn(s) at the 0.05 level
  3. *Rejection of the hypothesis at the 0.05 level
  4. **Mackinnon–Haug–Michelis (1999) values
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