Table 5.

Granger causality test result

Null hypothesis:ObsF-statisticProb.
PGR does not Granger Cause EMP271.617530.2211
EMP does not Granger Cause PGR 0.190230.8281
EYS does not Granger Cause EMP271.369150.2752
EMP does not Granger Cause EYS 3.759070.0394
MW does not Granger Cause EMP272.71593*0.0883
EMP does not Granger Cause MW 2.065880.1506
EYS does not Granger Cause PGR270.448440.6443
PGR does not Granger Cause EYS 0.012550.9875
MW does not Granger Cause PGR270.755430.4816
PGR does not Granger Cause MW 0.232230.7947
MW does not Granger Cause EYS271.147870.3356
EYS does not Granger Cause MW 2.087720.1478

Note:

*Denotes significance at 10%

Source: Authors’ computation, 2020
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