Results of the Granger causality
| Null hypothesis | F-statistic | p-value |
|---|---|---|
| (a): Results of Granger causality between non-strata market and farmland price | ||
| ΔMedian non-strata price Central Coast [MNSP] does not Granger-cause ΔPrice per hectare for NSW coastal farmland [PHCF] | 10.11 | 0.00*** |
| ΔPrice per hectare for NSW coastal farmland [PHCF] does not granger-cause ΔMedian non-strata price Central Coast [MNSP] | 0.04 | 0.95 |
| (b): Results of Granger causality between strata market and farmland price | ||
| ΔMedian strata price Central Coast [MSP] does not granger-cause ΔPrice per hectare for NSW coastal farmland [PHCF] | 12.02 | 0.00*** |
| ΔPrice per hectare for NSW coastal farmland [PHCF] does not granger-cause ΔMedian strata price Central Coast [MSP] | 1.69 | 0.20 |
| Null hypothesis | ||
|---|---|---|
| ΔMedian non-strata price Central Coast [MNSP] does not Granger-cause ΔPrice per hectare for | 10.11 | 0.00 |
| ΔPrice per hectare for | 0.04 | 0.95 |
| ΔMedian strata price Central Coast [MSP] does not granger-cause ΔPrice per hectare for | 12.02 | 0.00 |
| ΔPrice per hectare for | 1.69 | 0.20 |
Results of the Granger causality test of the pair of MNSP and PHCF. The tested hypothesis is “One variable does not Granger-cause the other variable”. The signs *, ** and *** denote the rejection of the tested hypothesis of no unit root at the 10, 5 and 1% significance levels, respectively
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