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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