Maritime Economic Logistics

TABLE 4

FROM:

An Analysis of Bunker Adjustment Factors and Freight Rates in the Europe/Far East Market (2000–2004)

Pierre Cariou and Francois-Charles Wolff

BACK TO ARTICLE

Table 4. Results of Johansen tests between HARPEX and AVERAGE, WEST, EAST

Figure and tables index
Max-lambda statistics HARPEX and AVERAGE HARPEX and WEST HARPEX and EAST
Assumption H 0 : rank R=
 012.66616.3784.356
 11.2171.2671.069
ResultNo cointegrationNo cointegrationNo cointegration

 Critical values for the Max-lambda statistics are respectively equal to 18.63 and 6.65 for assumptions H0: R=0 and H0: R=1 for a 99% confidence interval.

Figure and tables index
BACK TO ARTICLE