Higher Education, Technological Innovation, and Regional Sustainable Development: Insights from a VAR Model

Table 4

Unrestricted cointegration rank test (trace).

Hypothesized No. of CE (s)	Eigenvalue	Trace statistic	0.05 critical value	Prob.
None	0.969315	99.3259	29.79707	0
At most 1	0.901818	40.09829	15.49471	0
At most 2	0.037081	0.642356	3.841466	0.4229

Trace test indicates 2 cointegrating eqn (s) at the 0.05 level denotes rejection of the hypothesis at the 0.05 level, MacKinnon-Haug-Michelis (1999) values.