Johansen Fisher Panel Cointegration Test
Series:  LNE_EFF LNF_EFF LNSCA
Date:  03/14/18   Time: 21:17
Sample:  1996 2015
Included  observations: 551
Trend  assumption: Linear deterministic trend (restricted)
Lags  interval (in first differences): 1 1
Unrestricted  Cointegration Rank Test (Trace and Maximum Eigenvalue)
Hypothesized	Fisher Stat.*		Fisher Stat.*
No. of CE(s)	(from trace test)	Prob.	(from max-eigen test)	Prob.
None	228.8	0	169.1	0
At most 1	106.3	0.0001	89.81	0.0047
At most 2	59.82	0.4095	59.82	0.4095