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Table 9 Johansen cointegration tests between regional maize markets

From: The impact of production shocks on maize markets in Ethiopia: implications for regional trade and food security

Market pairsSample periodLag lengthHypothesisλtraceλmax
Nairobi-Addis Ababa2006 M01–2017 M011r = 012.26 (12.32)12.25** (11.22)
r ≤ 10.01 (4.13)0.01 (4.13)
Mombasa-Addis Ababa2006 M01–2017 M011r = 010.37 (12.32)10.31 (11.22)
r ≤ 10.065 (4.13)0.065 (4.13)
Juba-Addis Ababa2011 M08–2017 M011r = 015.71** (12.32)15.66*** (11.22)
r ≤ 10.052 (4.13)0.052 (4.129)
Juba-Addis Ababa with shift dummy2011 M08–2017 M012r = 022.15*** (12.32)22.03*** (11.22)
r ≤ 11.53 (4.13)1.53 (4.13)
  1. ***, ** significance levels at 1% and 5%; r is the number of cointegrating vectors; lag length is selected using Akaike Information Criteria (AIC); critical values in parenthesis; all maize prices series are converted to logarithms; South Sudan received independency in July 2011. Therefore, Juba’s maize price is from August 2011 onward