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Table 1 Cointegration test results of relevant variables and energy consumption

From: The impact of relative energy prices on industrial energy consumption in China: a consideration of inflation costs

Energy consumption

Null hypothesis

Characteristics of the root

The trace statistic

5 % critical value

P value

C1

Nonea

0.8654

103.8884

69.8189

0.0000

At most 1a

0.7213

57.7710

47.8561

0.0045

At most 2

0.5630

28.3861

29.7971

0.0721

C2

Nonea

0.8910

115.4177

69.8189

0.0000

At most 1a

0.7965

64.4490

47.8561

0.0007

At most 2

0.5816

27.8306

29.7971

0.0829

  1. aRejection of the null hypothesis at the 5 % confidence level