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Table 3 Cointegration test results (with FDIA)

From: Agricultural sector foreign direct investment and economic growth in Ghana

H 0 H 1 Trace statistics 95% Critical value (trace) Max statistic 95% Critical value (max)
r = 0 r ≥ 1 92.078 68.52 40.589 33.46
r ≤ 1 r ≥ 2 51.490 47.21 28.793 27.07
r ≤ 2 r ≥ 3 22.696 29.68 15.263 20.97
r ≤ 3 r ≥ 4 7.433 15.41 7.251 14.07
r ≤ 4 r ≥ 5 0.182 3.76 0.182 3.76
  1. Both the trace and max-eigenvalue tests indicate at least two cointegrating equations