Skip to main content

Table 6 Threshold cointegration test

From: Spatial market integration of rice in Bangladesh in the presence of transaction cost

Market pairs Test particulars SupLM1 \(\left( {\hat{\beta }\;\& \;\hat{\gamma }} \right)\) test
K = 1 K = 2
Mymensingh-Dhaka SupLM test statistic value 18.950* 29.712***
Critical values (0.05 level) 19.381 24.789
Residual bootstrap p-value 0.057 0.002
Rajshahi-Dhaka SupLM test statistic value 18.401* 23.288*
Critical values (0.05 level) 19.072 24.212
Residual bootstrap p-value 0.065 0.073
Khulna-Dhaka SupLM test statistic value 19.227* 24.354*
Critical values (0.05 level) 19.735 25.179
Residual bootstrap p-value 0.059 0.068
Chattogram-Dhaka SupLM test statistic value 18.914* 22.558*
Critical values (0.05 level) 19.226 24.322
Residual bootstrap p-value 0.055 0.089
Rajshahi-Mymensingh SupLM test statistic value 20.160** 22.873*
Critical values (0.05 level) 18.571 23.871
Residual bootstrap p-value 0.025 0.074
Khulna-Mymensingh SupLM test statistic value 19.062* 23.899*
Critical values (0.05 level) 19.262 24.625
Residual bootstrap p-value 0.054 0.066
Chattogram-Mymensingh SupLM test statistic value 21.426** 25.886**
Critical values (0.05 level) 18.695 23.800
Residual bootstrap p-value 0.012 0.018
Khulna-Rajshahi SupLM test statistic value 23.103*** 22.456*
Critical values (0.05 level) 19.187 24.495
Residual bootstrap p-value 0.006 0.096
Chattogram-Rajshahi SupLM test statistic value 17.617* 27.394***
Critical values (0.05 level) 18.739 24.028
Residual bootstrap p-value 0.082 0.009
Chattogram-Khulna SupLM test statistic value 22.793*** 23.615*
Critical values (0.05 level) 19.246 24.494
Residual bootstrap p-value 0.007 0.069
  1. *, ** and *** indicate the null hypotheses are rejected at 1%, 5% and the 10% level of significance