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In the above equation, FDII and X are co-integrated with slopes , which may or may not be homogeneous across i. In this case, in order to have the co-integrating relationship among the variables, we require under the null hypothesis that Ho : I = 1 for all i.The vector X has three sector specific variables namely; gross output (GO), labour productivity (LPR) and exports (EX). Since the number of observations in the current study is limited to 117 only, the study has the following combinations of the variables to test the co-integrating relations among the variables.There is a need for the verification of the stationary properties of the variables in the analysis of a PCONT model and for the present study it has been carried out for all the pooled variables by the unit root tests. However,...
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