Table 4: Results of Johansen and Juselius multivariate procedure for price in four PICs.

Maximum eigenvalueTrace
Test statistic95%Test statistic95%

Samoa
24.844*27.58448.173**47.856
13.14121.13223.32929.797
8.40614.26510.18815.495
1.7813.8411.7813.841
Solomon Islands
31.814*32.11867.092**63.876
18.54725.82335.27842.915
12.67619.38716.73125.872
4.05512.5184.05512.518
Tonga
36.991**27.58465.930**47.856
17.27621.13228.93929.797
10.65514.26511.66315.495
1.0083.8411.0083.841
Vanuatu
30.288**27.58451.011**47.856
14.73921.13220.72329.797
5.59214.2655.98415.495
0.3923.8410.3923.841

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