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