Fig. 7: Cointegration for Japanese and Chinese Rice Market. | Humanities and Social Sciences Communications

Fig. 7: Cointegration for Japanese and Chinese Rice Market.

From: Weak central government, strong legal rights: the origins of divergent legal institutions in 18th-century Chinese and Japanese rice markets

Fig. 7

Source: Yao and Zheng (2016)Footnote

An augmented Dickey-Fuller test (ADF) tests the null hypothesis that a unit root is present in a time series sample, when the ADF is used in the test, is a negative number. The more negative it is, the stronger the rejection of null hypothesis.

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