Panel VAR-Granger causality Wald test
| Low FI level group | High FI level group | |||||
|---|---|---|---|---|---|---|
| Equation\Excluded | χ2 | df | Prob>χ2 | χ2 | df | Prob>χ2 |
| IR | ||||||
| INF | 3.216 | 2 | 0.200 | 68.340 | 2 | 0.000 |
| Ygap | 0.636 | 2 | 0.728 | 2.807 | 2 | 0.246 |
| All | 4.874 | 4 | 0.300 | 92.787 | 4 | 0.000 |
| INF | ||||||
| IR | 13.031 | 2 | 0.001 | 5.165 | 2 | 0.076 |
| Ygap | 1.107 | 2 | 0.575 | 2.026 | 2 | 0.363 |
| All | 15.193 | 4 | 0.004 | 5.315 | 4 | 0.256 |
| Ygap | ||||||
| IR | 25.068 | 2 | 0.000 | 4.368 | 2 | 0.113 |
| INF | 1.033 | 2 | 0.597 | 42.045 | 2 | 0.000 |
| All | 32.560 | 4 | 0.000 | 93.625 | 4 | 0.000 |
| Low FI level group | High FI level group | |||||
|---|---|---|---|---|---|---|
| Equation\Excluded | df | Prob> | df | Prob> | ||
| INF | 3.216 | 2 | 0.200 | 68.340 | 2 | 0.000 |
| Ygap | 0.636 | 2 | 0.728 | 2.807 | 2 | 0.246 |
| All | 4.874 | 4 | 0.300 | 92.787 | 4 | 0.000 |
| IR | 13.031 | 2 | 0.001 | 5.165 | 2 | 0.076 |
| Ygap | 1.107 | 2 | 0.575 | 2.026 | 2 | 0.363 |
| All | 15.193 | 4 | 0.004 | 5.315 | 4 | 0.256 |
| IR | 25.068 | 2 | 0.000 | 4.368 | 2 | 0.113 |
| INF | 1.033 | 2 | 0.597 | 42.045 | 2 | 0.000 |
| All | 32.560 | 4 | 0.000 | 93.625 | 4 | 0.000 |