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          Likelihood
         5 Percent
1 Percent
Hypothesized
Eigenvalue
Ratio
Critical Value
Critical Value
No. of CE(s)


0.243398
40.86816
15.41
20.04
      None **
0.051946
6.561303
  3.76
  6.65
   At most 1 *


*(**) denotes rejection of the hypothesis at 5%(1%) significance level

L.R. test indicates 2 cointegrating equation(s) at 5% significance level



Unnormalized Cointegrating Coefficients:



ST
EX

9.36E-06
3.609420