Economics Research International / 2016 / Article / Tab 4

Research Article

Public Debt and External Reserve: The Nigerian Experience (1981–2013)

Table 4

Summary of cointegration results.

Max rankEigenvalueTrace statisticsProb.5% critical valuesMax-Eigen statisticProb.5% critical values

None 0.4871 48.307500.045 47.85613 28.69996 0.0448 27.58434
At most 1 0.3974 27.607540.0876 29.79707 15.70159 0.2428 21.13162
At most 2 0.2580 11.90595 0.1615 15.49471 9.254710 0.2656 14.26460
At most 3 0.0819 2.651243 0.1035 3.841466 2.651243 0.1035 3.841466

Note that “” indicates the cointegrating equation; source: author’s computation from E-views 9.0.