Abstract:Curret panel cointegration test methods suffer from too strong restrictions.In this study,we propose the likelihood ratio tests for panel cointegration based on Johansen canonical correlation analysis,trace test and maximum eigenvalue test,to allow for influences by the cross sectional cointegration and dynamic influences between each other.To avoid the finite sample size distortion of likelihood ratio statistics,we introduce the bootstrap procedure to ensure the robustness of our unrestricted p...