. 2019 Mar 26;14(3):e0209532. doi: 10.1371/journal.pone.0209532

Table 9. Pedroni (Engle-Granger based) test.

Panel A: Wintin-dimension
Panel co-integration test	Individual intercept		Individual intercept and trend		No intercept or trend
	Statistic	Weighted Statistic	Statistic	Weighted Statistic	Statistic	Weighted Statistic
Panel v-Statistic	2.737^***	-3.115^*	22.167^***	-0.938^*	-1.480^*	-3.404^*
Panel rho-Statistic	0.658^*	1.524^*	-1.226^*	2.162^*	-0.248^*	1.393^*
Panel PP-Statistic	-0.388^*	2.749^*	-3.865^***	0.195^*	-0.144^*	1.822^*
Panel ADF-Statistic	-0.242^*	2.993^*	-3.652^***	4.061	-0.235*	1.105^*
Panel B: Between- dimension
Panel co-integration test	Individual intercept		Individual intercept and trend		No intercept or trend
	Statistic		Statistic		Statistic
Group rho-Statistic	3.275^*		4.086		2.660^*
Group PP-Statistic	1.776^*		0.617^*		1.635^*
Group ADF-Statistic	2.981^*		0.236^*		2.977^*

Source: Computation by authors. The lag length was selected by Schwarz Info criterion.

Note: Please see, Table 2 for the variable’s definition

*** specifies the statistically significant at 1% levels.

** specifies the statistically significant at 5% levels.

* specifies the statistically significant at 10% levels.