Future Business Journal

Table 5 Optimal lag selection 1982 to 2021 data

From: Effects of crude oil prices on copper and maize prices

Lag	LogL	LR	FPE	AIC	SC	HQ
0	− 554.07	NA	0.00219	2.39084	2.41752	2.40134
1	1799.2	4666.21	9.36E−08	− 7.67056	− 7.56384	− 7.62856
2	1875.7	150.659	7.01E−08	− 7.96017	− 7.773410*	− 7.886664*
3	1886.4	20.8806	6.96e−08*	− 7.967329*	− 7.70054	− 7.86233
4	1889.3	5.64184	7.14E−08	− 7.94116	− 7.59433	− 7.80466
5	1892.8	6.87335	7.31E−08	− 7.9178	− 7.49094	− 7.7498
6	1905.8	24.7683	7.19E−08	− 7.93459	− 7.42768	− 7.73509
7	1916.6	20.73668*	7.13E−08	− 7.94267	− 7.35572	− 7.71166
8	1921.7	9.58511	7.25E−08	− 7.92577	− 7.25879	− 7.66327

*Implies selection of the lag order by the criterion
LR sequential modified LR test statistic (each test at 5% level)
FPE = Final prediction error
AIC = Akaike information criterion
SC = Schwarz information criterion
HQ = Hannan–Quinn information criterion

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