Table 7 Dumitrescu–Hurlin panel... | Emerald Publishing

Table 7

Dumitrescu–Hurlin panel causality test

Variable	w-statistics	z-bar statistics	Prob. value
$m b$ is not the cause of w	5.9902	8.9245	0.0000
$w i s n o t t h e c a u s e o f m b$	4.6782	5.1157	0.0000
$w e b i s n o t t h e c a u s e o f w$	4.5780	6.8745	0.0000
$w i s n o t t h e c a u s e o f w e b$	4.9784	6.9785	0.4289
$G D P i s n o t t h e c a u s e o f w$	7.9785	12.2547	0.0000
$w i s n o t t h e c a u s e o f G D P$	5.5024	8.8744	0.0000
$f i s n o t t h e c a u s e o f w$	11.4518	20.5478	0.0000
$w i s n o t t h e c a u s e o f f$	3.1578	16.0214	0.0021

Variable	w-statistics	z-bar statistics	Prob. value
$m b$ is not the cause of w	5.9902	8.9245	0.0000
$w i s n o t t h e c a u s e o f m b$	4.6782	5.1157	0.0000
$w e b i s n o t t h e c a u s e o f w$	4.5780	6.8745	0.0000
$w i s n o t t h e c a u s e o f w e b$	4.9784	6.9785	0.4289
$G D P i s n o t t h e c a u s e o f w$	7.9785	12.2547	0.0000
$w i s n o t t h e c a u s e o f G D P$	5.5024	8.8744	0.0000
$f i s n o t t h e c a u s e o f w$	11.4518	20.5478	0.0000
$w i s n o t t h e c a u s e o f f$	3.1578	16.0214	0.0021

Source(s): Author’s own creation/work