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Panel cointegration test (Westerlund 2005, 2007)
| Statistic | P value | |
|---|---|---|
| Variance Ratio (VR) a | − 2.0971 | 0.0180 |
Ho: No cointegration
Ha: Some panels are cointegrated
aVR test for no cointegration by testing for the presence of a unit root in the residuals.
