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44 Journal of Economics, Finance and Administrative ScienceDecember 2010The result of the multiple co-integration analysisbetween GDP and the remaining seven, other timeseries show that there were at least six co-integrationequations at the 5% significance level usingthe maximal eigenvalue of the stochastic matrix.Table 2 presents the maximal eigenvalue test ofthe null hypothesis showing that there are at mostr co-integrating vectors (r
Vol. 15, Nº 29Mafimisebi, Oguntade & Mafimisebi: Re-Engineering Agriculture for Enhanced Performance 45Table 3Unrestricted Parameter Estimate ResultsVariable Coefficient Standard error t- statistics ProbabilityGDPAGRS (-1) 0.56073 0.33265 1.68498 0.1236GDPAGRS(-2) 0.29061 0.34471 0.84370 0.4201FGRECBA -0.14935 0.24556 -0.60847 0.5587FGRECBA(-1) -0.06017 0.16593 0.36809 0.7270FGRECBA(-2) -0.13108 0.15305 -0.71612 0.4128TVLACMB 0.82361 0.32018 2.60391 0.0268 *TVLACMB(-1) 0.61114 0.37914 2.0136 0.0388*TVLACMB(-2) 0.59230 0.3046 2.0006 0.0409*TNLGUAD 0.12361 0.16342 0.81623 0.4043 TNLGUAD(-1) -0.01114 0.13114 0.6542 0.4813TNLGUAD(-2) -0.09230 0.10102 0.60274 0.4718TVLGUAD 0.78714 0.30102 2.56084 0.0251*TVLGUAD(-1) 0.71121 0.32145 2.63721 0.0326*TVLGUAD(-2) 0.66141 0.31268 2.66841 0.0418*LENGRAS -0.11971 0.31117 0.38213 0.7110LENGRAS(-1) 0.14543 0.31081 0.46885 0.6505LENGRAS(-2) 0.42438 0.29298 1.45034 0.1890CNFRLSI 0.14826 0.30148 0.72162 0.4162CNFRLSI(-1) 0.11114 0.14314 0.68214 0.4333CNFRLSI(-2) 0.01889 0.12316 0.62261 0.4716CVFRLSI 0.30402 0.2126 1.36851 0.2871CVFRLSI(-1) 0.31141 0.2224 1.37201 0.2801CVFRLSI(-2) 0.2336 0.19978 1.19732 0.3204C -0.04713 0.19074 -0.24883 0.8049ECM2(-1) -1.15371 0.40858 -2.82005 0.0240Source: Extracted from computer print-out of results.Note: * Means significant at 5% Means fist difference Means second differenceR 2 = 0.7726 F-Stat= 1.652 R -2 = 0.6448 D-W= 2.008Schwartz Criterion= 0.01582J. econ. finance adm. sci., 15(29), 2010
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