Table 5 Expectile granger causality... | Emerald Publishing

Table 5

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

Country	$γ_{1}$ (EVaR → FinTech)	$γ_{2}$ (FinTech → EVaR)
Panel A: $- τ = 0.01$
Bahrain	−0.072*	0.265***
Egypt	−0.258***	0.218**
UAE	0.202**	−0.171**
Jordan	−0.039	−0.128*
Kuwait	−0.024	0.169**
Pakistan	0.067*	−0.196**
Qatar	−0.119*	−0.243**
Saudi Arabia	−0.276***	0.248**
Tunisia	0.029	−0.191**
Turkey	0.061*	0.255***
Panel B: $- τ = 0.05$
Bahrain	0.141*	0.058*
Egypt	0.063*	0.126*
UAE	−0.192**	−0.191**
Jordan	0.068*	−0.218**
Kuwait	−0.182**	0.011
Pakistan	−0.263***	0.271***
Qatar	0.114*	−0.037
Saudi Arabia	−0.147*	0.099*
Tunisia	0.284***	0.167**
Turkey	−0.249**	−0.183**
Panel C: $- τ = 0.10$
Bahrain	−0.208**	−0.208**
Egypt	−0.290***	0.285***
UAE	−0.119*	0.016
Jordan	−0.127*	−0.082*
Kuwait	0.058*	−0.275***
Pakistan	0.282***	0.187**
Qatar	−0.229**	−0.004
Saudi Arabia	−0.116*	0.014
Tunisia	0.266***	0.239**
Turkey	−0.275***	−0.108*

Country	$γ_{1}$ (EVaR → FinTech)	$γ_{2}$ (FinTech → EVaR)
Panel A: $- τ = 0.01$
Bahrain	−0.072*	0.265***
Egypt	−0.258***	0.218**
UAE	0.202**	−0.171**
Jordan	−0.039	−0.128*
Kuwait	−0.024	0.169**
Pakistan	0.067*	−0.196**
Qatar	−0.119*	−0.243**
Saudi Arabia	−0.276***	0.248**
Tunisia	0.029	−0.191**
Turkey	0.061*	0.255***
Panel B: $- τ = 0.05$
Bahrain	0.141*	0.058*
Egypt	0.063*	0.126*
UAE	−0.192**	−0.191**
Jordan	0.068*	−0.218**
Kuwait	−0.182**	0.011
Pakistan	−0.263***	0.271***
Qatar	0.114*	−0.037
Saudi Arabia	−0.147*	0.099*
Tunisia	0.284***	0.167**
Turkey	−0.249**	−0.183**
Panel C: $- τ = 0.10$
Bahrain	−0.208**	−0.208**
Egypt	−0.290***	0.285***
UAE	−0.119*	0.016
Jordan	−0.127*	−0.082*
Kuwait	0.058*	−0.275***
Pakistan	0.282***	0.187**
Qatar	−0.229**	−0.004
Saudi Arabia	−0.116*	0.014
Tunisia	0.266***	0.239**
Turkey	−0.275***	−0.108*

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