From: Is health care a necessary or luxury product for Asian countries? An answer using panel approach
Pedroni (1999, 2004) Engle – Granger Based Cointegration Test, H 0 : No Cointegration | ||||||
---|---|---|---|---|---|---|
Panel Statistic | Group Statistic | |||||
IM | LE | IM | LE | |||
Stat. | W-Stat | Stat. | W-Stat | Stat. | Stat. | |
Deterministic Specification: No Constant & Trend | ||||||
V-Stat | 3.069a | 1.629a | −2.61 | 0.407 | - | - |
(0.001) | (0.051) | (0.995) | (0.341) | - | - | |
Rho-Stat | −4.214a | −3.116a | −0.372 | −2.349a | −1.659b | −1.227 |
(0.000) | (0.000) | (0.354) | (0.009) | (0.048) | (0.109) | |
PP-Stat | −5.164a | −5.469a | −4.595a | −4.942a | −7.727a | −8.896a |
(0.000) | (0.000) | (0.000) | (0.000) | (0.000) | (0.000) | |
ADF-Stat | −4.58a | −6.337a | −4.582a | −5.999a | −8.271a | −9.302a |
(0.000) | (0.000) | (0.000) | (0.000) | (0.000) | (0.000) | |
Deterministic Specification: Constant Only | ||||||
V-Stat | 0.573 | −0.024 | 2.113b | −0.061 | - | - |
(0.283) | (0.509) | (0.017) | (0.524) | - | - | |
Rho-Stat | −0.701 | −1.813b | 0.071 | −1.57c | 0.093 | 0.292 |
(0.241) | (0.034) | (0.528) | (0.058) | (0.537) | (0.615) | |
PP-Stat | −1.826b | −6.580a | −1.015 | −6.389a | −7.881a | −8.119a |
(0.033) | (0.000) | (0.154) | (0.000) | (0.000) | (0.000) | |
ADF-Stat | −1.328c | −9.675a | −1.129 | −8.969a | −11.31a | −10.507a |
(0.092) | (0.000) | (0.129) | (0.000) | (0.000) | (0.000) | |
Deterministic Specification: Constant & Trend | ||||||
V-Stat | −2.933 | −3.527 | 2.113b | −0.061 | - | - |
(0.998) | (0.999) | (0.017) | (0.524) | - | - | |
Rho-Stat | 3.022 | 1.37 | 0.071 | −1.57b | 3.023 | 0.292 |
(0.998) | (0.914) | (0.528) | (0.058) | (0.998) | (0.615) | |
PP-Stat | 0.316 | −5.997a | −1.015 | −6.389a | −8.391a | −8.119a |
(0.624) | (0.000) | (0.154) | (0.000) | (0.000) | (0.000) | |
ADF-Stat | 0.653 | −8.513a | −1.129 | −8.969a | −8.197a | −10.507a |
(0.743) | (0.000) | (0.124) | (0.000) | (0.000) | (0.000) |