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A Systems View Across Time and Space

Table 3 Pedroni residual panel cointegration test for inflation and CC series

From: Interplays among R&D spending, patent and income growth: new empirical evidence from the panel of countries and groups

Hypotheses → / test criteria↓

Null hypothesis: no cointegration

Statistic (prob.)

Weighted statistic (prob.)

No deterministic trend

Alternative hypothesis: common AR coefficients (within-dimension)

Panel v-statistic

0.183 (0.42)

− 1.05 (0.83)

Panel rho-statistic

0.21 (0.51)

1.16 (0.87)

Panel PP-statistic

− 0.72 (0.23)

0.36 (0.64)

Panel ADF-statistic

− 0.97 (0.16)

0.16 (0.56)

Alternative hypothesis: individual AR coefficients (between-dimension)

Group rho-statistic

2.189 (0.93)

-

Group PP-statistic

0.65 (0.74)

-

Group ADF-statistic

0.32 (0.62)

-

Deterministic intercept and trend

Alternative hypothesis: common AR coefficients (within-dimension)

Panel v-statistic

1.506 (0.06)

1.03 (0.15)

Panel rho-statistic

− 0.81 (0.20)

1.05 (0.85)

Panel PP-statistic

− 4.90 (0.00)

− 1.09 (0.13)

Panel ADF-statistic

− 1.89 (0.02)

− 0.49 (0.30)

Alternative hypothesis: individual AR coefficients (between-dimension)

Group rho-statistic

2.12 (0.95)

-

Group PP-statistic

− 0.38 (0.35)

-

Group ADF-statistic

− 0.75 (0.22)

-

No deterministic intercept and trend

Alternative hypothesis: common AR coefficients (within-dimension)

Panel v-statistic

− 0.41 (0.66)

− 1.22 (0.88)

Panel rho-statistic

− 0.60 (0.27)

0.92 (0.82)

Panel PP-statistic

− 1.64 (0.05)

0.22 (0.58)

Panel ADF-statistic

− 1.08 (0.13)

0.78 (0.78)

Alternative hypothesis: individual AR coefficients (between-dimension)

Group rho-statistic

2.66 (0.99)

-

Group PP-statistic

1.15 (0.87)

-

Group ADF-statistic

1.71 (0.95)

-

  1. Source: computed by the authors using Eviews