Table 2 Cointegration tests results.
From: Application of Markov chain to share price movement in Nigeria (1985–2019)
H0: The series does not have a unit root | ||||
|---|---|---|---|---|
` | Test Statistics | 1% | 5% | 10% |
Z(t) | − 3.963 | − 3.750 | − 3.000 | − 2.630 |
MacKinnon approximate p-value for Z(t) = 0.0016 | ||||