Specification: linear deterministic trend | |||||
Region | Hypothesized No. of CE(s) | Fisher Stat.* (from trace test) | Prob. | Fisher Stat.* (from max-eigen test) | Prob. |
Asia | None | 34.3 | 0.0116 | 30.51 | 0.0328 |
At most 1 | 16.34 | 0.5691 | 16.34 | 0.5691 | |
Latam | None | 20.19 | 0.1244 | 18.28 | 0.1945 |
At most 1 | 10.91 | 0.6927 | 10.91 | 0.6927 | |
All | None | 48.59 | 0.0303 | 44.52 | 0.0697 |
At most 1 | 25.35 | 0.7914 | 25.35 | 0.7914 | |
Specification without linear deterministic trend | |||||
Region | Hypothesized No. of CE(s) | Fisher Stat.* (from trace test) | Prob. | Fisher Stat.* (from max-eigen test) | Prob. |
Asia | None | 50.67 | 0.0001 | 45.66 | 0.0003 |
At most 1 | 27.45 | 0.0709 | 27.45 | 0.0709 | |
Latam | None | 26.27 | 0.0239 | 24.78 | 0.0368 |
At most 1 | 17.25 | 0.2431 | 17.25 | 0.2431 | |
All | None | 65.73 | 0.0004 | 63.33 | 0.0008 |
At most 1 | 38.13 | 0.2105 | 38.13 | 0.2105 |