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Westerlund (2007) ECM panel cointegration tests
| Statistica | Value | Z value | P value | Robust P valueb |
|---|---|---|---|---|
| Gt | − 2.229 | − 0.175 | 0.430 | 0.204 |
| Ga | − 2.228 | 7.211 | 1.000 | 0.476 |
| Pt | − 16.351 | − 4.403 | 0.000 | 0.020 |
| Pa | − 4.097 | 2.885 | 0.998 | 0.016 |
aGt and Ga represent group mean statistics as Pt and Pa denote panel statistics as explained in Westerlund (2007)
bRobust P value through bootstrap with 500 replications
