Influence of Exchange Rate on Foreign Direct Investment Inflows: An Empirical Analysis Based on Co-Integration and Granger Causality Test

Table 4

Co-integration test.

Hypothesized no. of CE(s)	Eigenvalue	Trace statistic	0.05 critical value	Prob.
None	0.843686	108.8294	47.85613	≤0.001
Most1	0.609719	53.15263	28.79707	≤0.001
Most2	0.497958	24.92598	15.49471	0.0014
Most3	0.132200	4.253827	3.841466	0.0392