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Table 4 Panel cointegration test

From: Is gold a safe haven for the dynamic risk of foreign exchange?

Method    Test statistics P value
Panel v-statistic    0.607 0.271
Panel ρ-statistic    − 1.755 0.039
Panel PP-statistic    − 2.869 0.002
Panel ADF-statistic    − 2.643 0.004
Group ρ-statistic    1.353 0.912
Group PP-statistic    − 2.313 0.010
Group ADF-statistic    − 1.999 0.022
Kao cointegration test    − 2.240 0.012
Johansen Fisher Panel Hypothesized None 19.11 0.937
Cointegration Test trace Statistic No. of CE(s) At most 1 55.89 0.002
Johansen Fisher Panel Hypothesized None 11.12 0.999
Cointegration Test max-eigenvalue Statistic No. of C.E. (s) At most 1 55.89 0.002
  1. Done on EViews 12
  2. The Pedroni's [36] statistics are asymptotically distributed as normal. The variance ratio test is right-sided, while the others are left-sided. In Johansen Fisher Panel Cointegration test, the trace and max-eigenvalue test are according to the p value of MacKinnon et al. [29]. Lags = 4