Null hypothesis

Eigenvalue

Maximum eigenvalue statistic

Statistics thresholds

Prob.

Conclusions

The number of co-integration equation

Eigen value

Max-Eigen statistic

5% significance level

None

0.26

19.04

14.27

0.0082

Reject the null hypothesis

Up to 1

0.04

2.21

3.84

0.1368

Accept the null hypothesis