Interrelationship dynamics between stock markets of nation under debt crisis and its major trading partners: evidence from Sri Lankan crisis

Future Business Journal

Table 4 Results of the cointegration test based on the VAR framework

Hypothesized		Max-eigen			Trace
No. of CE(s)	Eigenvalue	Statistic	Critical value	Prob	Statistic	Critical value	Prob
Johansen cointegration test (trace and maximum eigenvalue) with lags 1 to 3
None*	0.0149	21.8732	27.5843	0.227	52.0064	47.8561	0.0194**
At most 1*	0.0102	14.9664	21.1316	0.2913	30.1331	29.7971	0.0457**
At most 2	0.0076	11.1867	14.2646	0.1451	15.1667	15.4947	0.056
At most 3*	0.0027	3.9799	3.8414	0.046	3.9799	3.8414	0.046

***, **, and * represent significant at 1%, 5%, and 10% significance levels respectively
Source: Calculation by Author's