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Table 3 Panel cointegration test results

From: Renewable energy consumption in Africa: the role of economic well-being and economic freedom

1. Pedroni’s cointegration test (deterministic intercept and trend)
Common autoregressive coefficients (within dimension)
Tests Statistic p value Weighted statistic p value
Panel v statistic −3.336065 0.9996 −4.537104 1.0000
Panel rho statistic 1.851068 0.9679 1.759351 0.9607
Panel PP statistic −17.26343 0.0000 −17.92932 0.0000
Panel ADF statistic −7.347244 0.0000 −7.065955 0.0000
Individual Autoregressive coefficients (between dimension)
Group rho statistic 3.713946 0.9999   
Group PP statistic -32.93876 0.0000   
Group ADF statistic -8.285983 0.0000   
2. Kao residual cointegration test (no deterministic trend)
H0, no cointegration; H1, cointegration
Test statistic, p value
−20.13701***, 0.0000
Note: Decision: Reject the null hypothesis and accept the alternative of cointegration
3. Johansen Fisher panel cointegration test (linear deterministic trend)
Null hypothesis Fisher statistic (trace test) p value Fisher statistic
(maximum eigenvalue)
p value
r = 0 47.53 0.3308 47.53 0.3308
r ≤ 1 200.8 0.0000 2651 0.0000
r ≤ 2 996.3 0.0000 4747 0.0000
r ≤ 3 575.2 0.0000 375.0 0.0000
r ≤ 4 291.1 0.0000 176.9 0.0000
r ≤ 5 165.1 0.0000 115.0 0.0000
r ≤ 6 146.0 0.0000 146.0 0.0000
  1. Notes: cointegration test results were generated by Eviews 9
  2. Null hypothesis, no cointegration
  3. Automatic lag length selection based on SIC with lags from 0 to 2
  4. Sample period is 1996-2017