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Table 5 Conventional Cointegration Test for ACE Transformed Variables

From: Stock market and macroeconomic variables: new evidence from India

Dependent

EG Test

Pz Test

LBSE

−5.48 (0.00)

−62.32 (0.00)

LIIP

−5.37 (0.00)

− 58.30 (0.00)

LWPI

−2.48 (0.48)

−17.20 (0.45)

LM

−4.41 (0.04)

− 34.70 (0.03)

LE

−5.21 (0.00)

− 56.59 (0.00)

  1. Figures in parentheses indicate the MacKinnon (1996) p-values.