Table 3 Lag determination for VECM.
Lag | Sample: 1973—2020 | Number of obs = 48 | ||||||
|---|---|---|---|---|---|---|---|---|
LL | LR | Df | p | FPE | AIC | HQIC | SBIC | |
0 | − 187.739 |  |  |  | .034654 | 7.98914 | 8.04806 | 8.14507 |
1 | 31.5202 | 438.52 | 16 | 0.000 | 7.3e−06 | − .48001 | − .185373* | .299657* |
2 | 46.7586 | 30.477 | 16 | 0.016 | 7.6e−06 | − .448273 | .082074 | .955128 |
3 | 71.3497 | 49.182* | 16 | 0.000 | 5.5e−06* | − .806236* | − .040179 | 1.2209 |