Table 8 Cointegration test results 2000 to 2021 data
From: Effects of crude oil prices on copper and maize prices
Trace test | Maximum eigenvalue test | ||||||
|---|---|---|---|---|---|---|---|
H0 | H1 | Statistic | 5% critical value | H0 | H1 | Statistic | 5% critical value |
r = 0 | r ≥ 1 | 27.4408 | 29.7971 | r = 0 | r ≥ 1 | 12.5546 | 21.1316 |
r ≤ 1 | r ≥ 2 | 14.8861 | 15.4947 | r ≤ 1 | r ≥ 2 | 11.6288 | 14.2646 |
r ≤ 2 | r ≥ 3 | 3.2573 | 3.8415 | r ≤ 2 | r ≥ 3 | 3.2573 | 3.8415 |