Table 3: Results of Johansen and Juselius multivariate procedure for output in four PICs.

Maximum EigenvalueTrace
Test statistic95%Test statistic95%

Samoa
27.318*27.58455.051**47.856
17.46121.13227.73329.797
9.06314.26510.27215.495
1.2083.8411.2083.841
Solomon Islands
33.424**32.11868.564**63.876
16.62225.82335.14042.915
10.64519.38718.51825.872
7.87312.5187.87312.518
Tonga
70.651**27.584118.147**47.856
39.138**21.13247.496**29.797
5.89714.2658.35915.495
2.4623.8412.4623.841
Vanuatu
26.005*27.58456.889**47.856
16.13121.13230.884**29.797
13.65214.26514.75215.495
1.1003.8411.1003.841

Notes: * and **indicate significant at 5% and 1% levels, respectively.