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Table 6 Cointegration tests outcomes.

From: The impact of financial development on renewable energy consumption: new insights from Ghana

 

Fisher-type test statistics

5% critical value

Bayer and Hanck cointegration test outcomes

EG-J

23.143**

10.637

EG-J-Ba-Bo

36.159**

20.486

Gregory-Hansen cointegration test

ADF

Zt

Za

−8.66*** (2002)

−8.61***(1997)

−41.39 (1997)

  1. Asterisks (***) and (**) indicate rejection of the null hypothesis at the 1 and 5, percent levels of significance, respectively