Health expenditure and economic growth - a review of the literature and an analysis between the economic community for central African states (CEMAC) and selected African countries

Table 4 Panel co-integration test results

Pedroni Residual Cointegration Test		CEMAC(HE < 15% GGE)		Other african countries(HE > 15% GGE)
Pedroni Residual Cointegration Test		Statistic	Weighted Statistic	Statistic	Weighted Statistic
Within-dimension (panel)	Panel v-Statistic	5.320171***	−1.934143	−0.079408*	−1.629980
	Panel rho-Statistic	1.101854	1.583020	1.390759	2.080915
	Panel PP-Statistic	−6.944674***	−3.660656***	−4.191776***	−1.824957**
	Panel ADF-Statistic	−1.735961**	−2.395129***	−3.924845***	−2.128257***
Between-dimension (group)	Group rho-Statistic	2.199777		2.590251
	Group PP-Statistic	−4.895312***		−2.152590***
	Group ADF-Statistic	−1.533469*		−2.641490***

GGE General government expenditure, GGHE General government health expenditure, HE Health Expenditure
The test statistics are normalized so that the asymptotic distribution is standard normal. *, **, *** indicate rejection of the null hypothesis of non-co-integration at the 10, 5,and 1% significance levels, based respectively on critical values of 1.281, 1.644 and 2.326
Source: Computed by author

ISSN: 2191-1991