Variables Chosen

Hypothesized No. of CE(s)

Eigenvalue

Trace Statistics

5% Critical Value

Probability

(LFR,LEX)

None*

0.458939

18.61014

15.49471

0.0164

At most 1

0.096566

2.640351

3.841466

0.1042

(LFR,LIM)

None*

0.57531

27.08905

15.49471

0.0006

At most 1*

0.169304

4.822772

3.841466

0.0281

(LFR,LFDI)

None*

0.53294

22.2437

15.49471

0.0041

At most 1

0.089926

2.449952

3.841466

0.1175

(LFR,LDEB)

None

0.29638

11.39618

15.49471

0.1883

At most 1

0.083137

2.256735

3.841466

0.133

(LFR,LGDP)

None*

0.363305

16.16868

15.49471

0.0395

At most 1*

0.156679

4.430613

3.841466

0.0353