Financial Innovation

Table 7 Westerlund cointegration test

From: Effects of financial development and capital accumulation on labor productivity in sub-Saharan Africa: new insight from cross sectional autoregressive lag approach

Models	G_t		G_a		P_t		P_a
Models	Z-value	P-value	Z-value	P-value	Z-value	P-value	Z-value	P-value
Model (1)	− 16.932^a	0.000	− 5.177^a	0.000	− 7.540^a	0.000	− 8.839^a	0.000
Model (2)	− 17.528^a	0.000	− 6.966^a	0.000	− 7.858^a	0.000	− 9.109^a	0.000
Model (3)	− 11.946^a	0.000	− 0.747	0.228	− 1.799^b	0.036	− 0.670	− 0.252

a, and b represents the null hypothesis at 1% and 5% correspondingly

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