Table 4 Expectile granger causality... | Emerald Publishing

Table 4

Expectile granger causality estimates between FinTech index and downside risk (EVaR) for conventional banks in MENA countries

Country	$γ_{1}$ (EVaR → FinTech)	$γ_{2}$ (FinTech → EVaR)
Panel A: $- τ = 0.01$
Bahrain	−0.075*	0.270***
Egypt	−0.265***	0.220**
UAE	0.199**	−0.173**
Jordan	−0.041	−0.125*
Kuwait	−0.026	0.171**
Pakistan	0.065*	−0.198**
Qatar	−0.117*	−0.241**
Saudi Arabia	−0.279***	0.246**
Tunisia	0.028	−0.189**
Turkey	0.059*	0.253***
Panel B: $- τ = 0.05$
Bahrain	0.139*	0.059*
Egypt	0.061*	0.125*
UAE	−0.191**	−0.190**
Jordan	0.067*	−0.216**
Kuwait	−0.180**	0.009
Pakistan	−0.261***	0.269***
Qatar	0.111*	−0.036
Saudi Arabia	−0.145*	0.098*
Tunisia	0.282***	0.165**
Turkey	−0.247**	−0.182**
Panel C: $- τ = 0.10$
Bahrain	−0.206**	−0.206**
Egypt	−0.288***	0.282***
UAE	−0.117*	0.015
Jordan	−0.125*	−0.080*
Kuwait	0.055*	−0.272***
Pakistan	0.279***	0.185**
Qatar	−0.227**	−0.003
Saudi Arabia	−0.113*	0.012
Tunisia	0.264***	0.237**
Turkey	−0.273***	−0.105*

Country	$γ_{1}$ (EVaR → FinTech)	$γ_{2}$ (FinTech → EVaR)
Panel A: $- τ = 0.01$
Bahrain	−0.075*	0.270***
Egypt	−0.265***	0.220**
UAE	0.199**	−0.173**
Jordan	−0.041	−0.125*
Kuwait	−0.026	0.171**
Pakistan	0.065*	−0.198**
Qatar	−0.117*	−0.241**
Saudi Arabia	−0.279***	0.246**
Tunisia	0.028	−0.189**
Turkey	0.059*	0.253***
Panel B: $- τ = 0.05$
Bahrain	0.139*	0.059*
Egypt	0.061*	0.125*
UAE	−0.191**	−0.190**
Jordan	0.067*	−0.216**
Kuwait	−0.180**	0.009
Pakistan	−0.261***	0.269***
Qatar	0.111*	−0.036
Saudi Arabia	−0.145*	0.098*
Tunisia	0.282***	0.165**
Turkey	−0.247**	−0.182**
Panel C: $- τ = 0.10$
Bahrain	−0.206**	−0.206**
Egypt	−0.288***	0.282***
UAE	−0.117*	0.015
Jordan	−0.125*	−0.080*
Kuwait	0.055*	−0.272***
Pakistan	0.279***	0.185**
Qatar	−0.227**	−0.003
Saudi Arabia	−0.113*	0.012
Tunisia	0.264***	0.237**
Turkey	−0.273***	−0.105*

Note(s): ****, **, * respective significances at the 1%, 5%, 10%