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

Table 8

Co-Integration test.

Hypothesized no. of CE(s)	Eigenvalue	Trace statistic	0.05 critical value	Prob.
None	0.944857	235.4577	125.6154	≤0.001
At most1	0.862471	145.6250	95.75366	≤0.001
At most2	0.632136	84.12343	69.81889	0.0024
At most3	0.526759	53.12216	47.85613	0.0148
At most4	0.436289	29.92947	29.79707	0.0483
At most5	0.226467	12.15983	15.49471	0.1494
At most6	0.126691	4.199447	3.841466	0.0404