표 7 공적분 검정 결과

Hypothesized		Trace statistic	0.05 Critical value	Prob.	Hypothesized		Max-Eigen statistic	0.05 Critical value	Prob.
No. of CE(s)	Eig.	Trace statistic	0.05 Critical value	Prob.	No. of CE(s)	Eig.	Max-Eigen statistic	0.05 Critical value	Prob.
None^*	0.400	183.207	95.754	0.000	None*	0.400	62.259	40.078	0.000
At most 1^*	0.323	120.949	69.819	0.000	At most 1*	0.323	47.519	33.877	0.001
At most 2^*	0.242	73.430	47.856	0.000	At most 2*	0.242	33.851	27.584	0.007
At most 3^*	0.188	39.578	29.797	0.003	At most 3*	0.188	25.374	21.132	0.012
At most 4	0.083	14.204	15.495	0.078	At most 4	0.083	10.557	14.265	0.178
At most 5	0.029	3.648	3.841	0.056	At most 5	0.029	3.648	3.841	0.056

주 p<0.05.