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Table 8 Johansen fisher panel Co integration tests

From: Do remittances promote financial development in Africa?

No. Of CE(s)

Fishers statistics

Series

 

Trace test

Prob

Maximum Eigen value

Prob

No. of obs

BDP: REM

None

160.9

0.0000

142.9

0.0000

1100

 

At most 1

112.1

0.0028

112.1

0.0728

 

M2: REM

None

164.7

0

150.9

0.0000

1100

 

At most 1

112.7

0.0025

112.7

0.0225

 
  1. H 0 No cointegration exists