Likelihood | 5 Percent | 1 Percent | Hypothesized | |||
Eigenvalue | Ratio | Critical Value | Critical Value | No. of CE(s) | ||
0.875874 | 47.46384 | 29.68 | 35.65 | None ** | ||
0.631624 | 16.16695 | 15.41 | 20.04 | At most 1 * | ||
0.076095 | 1.187191 | 3.76 | 6.65 | At most 2 | ||
*(**) denotes rejection of the hypothesis at 5%(1%) significance level | ||||||
L.R. test indicates 2 cointegrating equation(s) at 5% significance level | ||||||
Normalized Cointegrating Coefficients: 1 Cointegrating Equation(s) | ||||||
LOG(EXPORT) | LOG(GDP) | LOG(GEER) | C | |||
1 | -1.830324 | 0.099821 | 21.38654 | |||
-0.43544 | -0.30506 | |||||
Log likelihood | 88.20315 | |||||
Normalized Cointegrating Coefficients: 2 Cointegrating Equation(s) | ||||||
LOG(EXPORT) | LOG(GDP) | LOG(GEER) | C | |||
1 | 0 | -1.129436 | -6.264033 | |||
-0.1516 | ||||||
0 | 1 | -0.671606 | -15.10693 | |||
-0.10059 | ||||||
Log likelihood | 95.69303 |