Causality between Energy Consumption and GDP: Evidence from ...

Table 3 : ContinuedCountries Year Lags Hyphotheses Johansen Test statisticsCointegration NoteH0 H1 Trace 5% 1% Max-eigen 5% 1% accepted?Korea 1971-2000 1 r = 0 r > 0 10.98 15.41 20.04 10.78 14.07 18.63 No Both tests indicate no cointegration at both 5% and 1% levels.r < or = 1 r > 1 0.21 3.76 6.65 0.21 3.76 6.65Luxembourg 1960-2000 1 r = 0 r > 0 14.03 15.41 20.04 7.58 14.07 18.63 No Both tests indicate no cointegration at both 5% and 1% levels.r < or = 1 r > 1 6.45 3.76 6.65 6.45 3.76 6.65Mexico 1971-2000 1 r = 0 r > 0 9.40 15.41 20.04 8.65 14.07 18.63 No Both tests indicate no cointegration at both 5% and 1% levels.r < or = 1 r > 1 0.75 3.76 6.65 0.75 3.76 6.65Netherlands 1960-2000 1 r = 0 r > 0 16.68 15.41 20.04 14.55 14.07 18.63 Yes Both tests indicate 1 cointegrating equation at 5% level and no cointegration at 1%.r < or = 1 r > 1 2.13 3.76 6.65 2.13 3.76 6.65New Zealand 1960-2000 1 r = 0 r > 0 13.25 15.41 20.04 13.02 14.07 18.63 No Both tests indicate no cointegration at both 5% and 1% levels.r < or = 1 r > 1 0.24 3.76 6.65 0.24 3.76 6.65Norway 1960-2000 1 r = 0 r > 0 16.39 15.41 20.04 15.59 14.07 18.63 Yes Both tests indicate 1 cointegrating equation at 5% level and no cointegration at 1%.r < or = 1 r > 1 0.80 3.76 6.65 0.80 3.76 6.65Poland 1960-2000 1 r = 0 r > 0 10.23 15.41 20.04 6.25 14.07 18.63 No Both tests indicate no cointegration at both 5% and 1% levels.r < or = 1 r > 1 3.98 3.76 6.65 3.98 3.76 6.65Portugal 1960-2000 1 r = 0 r > 0 8.86 15.41 20.04 8.69 14.07 18.63 No Both tests indicate no cointegration at both 5% and 1% levels.r < or = 1 r > 1 0.17 3.76 6.65 0.17 3.76 6.65Salovakia 1971-2000 2 r = 0 r > 0 13.02 15.41 20.04 8.21 14.07 18.63 No Both tests indicate no cointegration at both 5% and 1% levels.r < or = 1 r > 1 4.81 3.76 6.65 4.81 3.76 6.65Spain 1960-2000 1 r = 0 r > 0 9.28 15.41 20.04 7.32 14.07 18.63 No Both tests indicate no cointegration at both 5% and 1% levels.r < or = 1 r > 1 1.96 3.76 6.65 1.96 3.76 6.65Sweden 1960-2000 1 r = 0 r > 0 13.22 15.41 20.04 12.92 14.07 18.63 No Both tests indicate no cointegration at both 5% and 1% levels.r < or = 1 r > 1 0.30 3.76 6.65 0.30 3.76 6.65Switzerland 1960-2000 1 r = 0 r > 0 22.39 15.41 20.04 20.67 14.07 18.63 Yes Both tests indicate 1 cointegrating equation at both 5% and 1% levels.r < or = 1 r > 1 1.71 3.76 6.65 1.71 3.76 6.65Turkey 1960-2000 1 r = 0 r > 0 8.65 15.41 20.04 6.18 14.07 18.63 No Both tests indicate no cointegration at both 5% and 1% levels.r < or = 1 r > 1 2.47 3.76 6.65 2.47 3.76 6.65UK 1960-2000 1 r = 0 r > 0 7.77 15.41 20.04 7.72 14.07 18.63 No Both tests indicate no cointegration at both 5% and 1% levels.r < or = 1 r > 1 0.05 3.76 6.65 0.05 3.76 6.65USA 1960-2000 1 r = 0 r > 0 10.95 15.41 20.04 10.13 14.07 18.63 No Both tests indicate no cointegration at both 5% and 1% levels.r < or = 1 r > 1 0.82 3.76 6.65 0.82 3.76 6.65Page 36 of 58