Journal of Shipping and Trade

Table 4 Johansen tests for cointegration among LnGDP, LnImp, LnExp and LnExc.

From: Effect of shipping trade on economic growth in Nigeria: the Vector Error Correction Model (VECM) approach

Trend: constant			Number of obs = 48
Sample: 1973–2020			Lags = 3
Maximum rank	Parms	LL	Eigenvalue	Trace statistics	5% critical value
0	36	39.275466		64.1484	47.21
1	43	54.513586	0.47002	33.6721	29.68
2	48	65.450046	0.36599	11.7992*	15.41
3	51	70.313068	0.18342	2.0732	3.76
4	52	71.349655	0.04227

*At least two cointegrating equations in the model

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