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Table 3 Johansen cointegration test

From: Savings, investment, and growth in Nepal: an empirical analysis

Hypothesized

No. of CE(s)

Eigenvalue

Max-Eigen

Statistic

Critical Value

P-value

None*

0.5197

28.5984

21.1316

0.0037

At most 1

0.1241

5.1664

14.2646

0.7207

At most 2

0.0008

0.0309

3.8415

0.8604

  1. Note: Dummy variable (D2001) is used as an exogenous series to account for the structural break in economic growth. The critical values follow MacKinnon et al. (1999)
  2. * significant at the 1% level