From: Spatial market integration of rice in Bangladesh in the presence of transaction cost
Market pairings | Model 2 (no linear trend) | Model 3 (linear trend) | ||
---|---|---|---|---|
Test statistics | Critical values | Test statistics | Critical values | |
Mymensingh-Dhaka | ||||
Trace statistics \(\left( {\lambda_{{{\text{trace}}}} } \right)\) | ||||
\(H_{0} :r = 0\;{\text{vs}}\;H_{1} :r \ge 1\) | 23.88** | 19.96 | 27.59** | 25.32 |
\(H_{0} :r \le 1\;{\text{vs}}\;H_{1} :r \ge 2\) | 2.66 | 9.24 | 9.09 | 12.25 |
Maximum eigenvalue statistics \(\left( {\lambda_{{{\text{max}}}} } \right)\) | ||||
\(H_{0} :r = 0\;{\text{vs}}\;H_{1} :r \ge 1\) | 19.22** | 15.67 | 21.50** | 18.96 |
\(H_{0} :r \le 1\;{\text{vs}}\;H_{1} :r \ge 2\) | 2.66 | 9.24 | 9.09 | 12.25 |
Rajshahi-Dhaka | ||||
Trace statistics \(\left( {\lambda_{{{\text{trace}}}} } \right)\) | ||||
\(H_{0} :r = 0\;{\text{vs}}\;H_{1} :r \ge 1\) | 24.59** | 19.96 | 28.86** | 25.32 |
\(H_{0} :r \le 1\;{\text{vs}}\;H_{1} :r \ge 2\) | 2.37 | 9.24 | 7.7 | 12.25 |
Maximum eigenvalue statistics \(\left( {\lambda_{{{\text{max}}}} } \right)\) | ||||
\(H_{0} :r = 0\;{\text{vs}}\;H_{1} :r \ge 1\) | 20.23** | 15.67 | 23.15** | 18.96 |
\(H_{0} :r \le 1\;{\text{vs}}\;H_{1} :r \ge 2\) | 2.37 | 9.24 | 7.7 | 12.25 |
Khulna-Dhaka | ||||
Trace statistics \(\left( {\lambda_{{{\text{trace}}}} } \right)\) | ||||
\(H_{0} :r = 0\;{\text{vs}}\;H_{1} :r \ge 1\) | 29.06** | 19.96 | 37.45** | 25.32 |
\(H_{0} :r \le 1\;{\text{vs}}\;H_{1} :r \ge 2\) | 1.92 | 9.24 | 9.76 | 12.25 |
Maximum eigenvalue statistics \(\left( {\lambda_{{{\text{max}}}} } \right)\) | ||||
\(H_{0} :r = 0\;{\text{vs}}\;H_{1} :r \ge 1\) | 27.15** | 15.67 | 27.69** | 18.96 |
\(H_{0} :r \le 1\;{\text{vs}}\;H_{1} :r \ge 2\) | 1.91 | 9.24 | 9.76 | 12.25 |
Chattogram-Dhaka | ||||
Trace statistics \(\left( {\lambda_{{{\text{trace}}}} } \right)\) | ||||
\(H_{0} :r = 0\;{\text{vs}}\;H_{1} :r \ge 1\) | 21.42** | 19.96 | 28.78** | 25.32 |
\(H_{0} :r \le 1\;{\text{vs}}\;H_{1} :r \ge 2\) | 2.13 | 9.24 | 9.29 | 12.25 |
Maximum eigenvalue statistics \(\left( {\lambda_{{{\text{max}}}} } \right)\) | ||||
\(H_{0} :r = 0\;{\text{vs}}\;H_{1} :r \ge 1\) | 19.29** | 15.67 | 19.46** | 18.96 |
\(H_{0} :r \le 1\;{\text{vs}}\;H_{1} :r \ge 2\) | 2.13 | 9.24 | 9.29 | 12.25 |
Rajshahi-Mymensingh | ||||
Trace statistics \(\left( {\lambda_{{{\text{trace}}}} } \right)\) | ||||
\(H_{0} :r = 0\;{\text{vs}}\;H_{1} :r \ge 1\) | 24.92** | 19.96 | 27.54** | 25.32 |
\(H_{0} :r \le 1\;{\text{vs}}\;H_{1} :r \ge 2\) | 2.49 | 9.24 | 5.36 | 12.25 |
Maximum eigenvalue statistics \(\left( {\lambda_{{{\text{max}}}} } \right)\) | ||||
\(H_{0} :r = 0\;{\text{vs}}\;H_{1} :r \ge 1\) | 16.43** | 15.67 | 22.18** | 18.96 |
\(H_{0} :r \le 1\;{\text{vs}}\;H_{1} :r \ge 2\) | 2.49 | 9.24 | 5.36 | 12.25 |
Chattogram-Mymensingh | ||||
Trace statistics \(\left( {\lambda_{{{\text{trace}}}} } \right)\) | ||||
\(H_{0} :r = 0\;{\text{vs}}\;H_{1} :r \ge 1\) | 24.07** | 19.96 | 26.36** | 25.32 |
\(H_{0} :r \le 1\;{\text{vs}}\;H_{1} :r \ge 2\) | 2.34 | 9.24 | 9.74 | 12.25 |
Maximum eigenvalue statistics \(\left( {\lambda_{{{\text{max}}}} } \right)\) | ||||
\(H_{0} :r = 0\;{\text{vs}}\;H_{1} :r \ge 1\) | 18.73** | 15.67 | 20.62** | 18.96 |
\(H_{0} :r \le 1\;{\text{vs}}\;H_{1} :r \ge 2\) | 2.34 | 9.24 | 9.74 | 12.25 |
Khulna-Mymensingh | ||||
Trace statistics \(\left( {\lambda_{{{\text{trace}}}} } \right)\) | ||||
\(H_{0} :r = 0\;{\text{vs}}\;H_{1} :r \ge 1\) | 23.20** | 19.96 | 30.41** | 25.32 |
\(H_{0} :r \le 1\;{\text{vs}}\;H_{1} :r \ge 2\) | 2.3 | 9.24 | 10.33 | 12.25 |
Maximum eigenvalue statistics \(\left( {\lambda_{{{\text{max}}}} } \right)\) | ||||
\(H_{0} :r = 0\;{\text{vs}}\;H_{1} :r \ge 1\) | 20.89** | 15.67 | 22.08** | 18.96 |
\(H_{0} :r \le 1\;{\text{vs}}\;H_{1} :r \ge 2\) | 2.3 | 9.24 | 10.33 | 12.25 |
Khulna-Rajshahi | ||||
Trace statistics \(\left( {\lambda_{{{\text{trace}}}} } \right)\) | ||||
\(H_{0} :r = 0\;{\text{vs}}\;H_{1} :r \ge 1\) | 20.82** | 19.96 | 29.31** | 25.32 |
\(H_{0} :r \le 1\;{\text{vs}}\;H_{1} :r \ge 2\) | 1.99 | 9.24 | 9.42 | 12.25 |
Maximum eigenvalue statistics \(\left( {\lambda_{{{\text{max}}}} } \right)\) | ||||
\(H_{0} :r = 0\;{\text{vs}}\;H_{1} :r \ge 1\) | 18.83** | 15.67 | 19.89** | 18.96 |
\(H_{0} :r \le 1\;{\text{vs}}\;H_{1} :r \ge 2\) | 1.99 | 9.24 | 9.42 | 12.25 |
Chattogram-Rajshahi | ||||
Trace statistics \(\left( {\lambda_{{{\text{trace}}}} } \right)\) | ||||
\(H_{0} :r = 0\;{\text{vs}}\;H_{1} :r \ge 1\) | 26.90** | 19.96 | 34.81** | 25.32 |
\(H_{0} :r \le 1\;{\text{vs}}\;H_{1} :r \ge 2\) | 2.33 | 9.24 | 7.41 | 12.25 |
Maximum eigenvalue statistics \(\left( {\lambda_{{{\text{max}}}} } \right)\) | ||||
\(H_{0} :r = 0\;{\text{vs}}\;H_{1} :r \ge 1\) | 22.57** | 15.67 | 25.40** | 18.96 |
\(H_{0} :r \le 1\;{\text{vs}}\;H_{1} :r \ge 2\) | 2.33 | 9.24 | 7.41 | 12.25 |
Chattogram-Khulna | ||||
Trace statistics \(\left( {\lambda_{{{\text{trace}}}} } \right)\) | ||||
\(H_{0} :r = 0\;{\text{vs}}\;H_{1} :r \ge 1\) | 25.99** | 19.96 | 35.63** | 25.32 |
\(H_{0} :r \le 1\;{\text{vs}}\;H_{1} :r \ge 2\) | 1.91 | 9.24 | 11.88 | 12.25 |
Maximum eigenvalue statistics \(\left( {\lambda_{{{\text{max}}}} } \right)\) | ||||
\(H_{0} :r = 0\;{\text{vs}}\;H_{1} :r \ge 1\) | 24.08** | 15.67 | 23.75** | 18.96 |
\(H_{0} :r \le 1\;{\text{vs}}\;H_{1} :r \ge 2\) | 1.91 | 9.24 | 11.88 | 12.25 |