Hypothesized No. of CE(s)
|
Eigenvalue
|
Trace Statistic
|
5% Critical Value
|
Prob.**
|
Panel A. lnRGI-lnWTIOIL Johansen Co-integration results
|
None*
|
0.445 |
29.202 |
18.398 |
0.001 |
At most 1
|
0.020 |
0.972 |
3.841 |
0.324 |
Panel B. lnRGI-lnDQOILJohansen Co-integration results
|
None*
|
0.280 |
18.482 |
15.495 |
0.017 |
At most 1
|
0.055 |
2.715 |
3.841 |
0.099 |
Panel C. lnRGI-lnBJOILJohansen Co-integration results
|
None*
|
0.313 |
24.249 |
20.262 |
0.013 |
At most 1
|
0.132 |
6.634 |
9.165 |
0.147 |
Panel D.lnRGI-lnQHDCOALJohansen Co-integration results
|
None*
|
0.323 |
26.277 |
20.262 |
0.007 |
At most 1
|
0.146 |
7.550 |
9.165 |
0.100 |