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A Systems View Across Time and Space

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