Granger causality test
| Sl. No. | Null hypothesis | F-statistic | Probability | Direction |
|---|---|---|---|---|
| 1. | RAP does not granger cause RFP | 2.4127 | 0.007962** | RAP → RPF |
| 2. | RFP does not granger cause RAP | 6.3768 | 1.911e−09*** | RFP → RAP |
| 3. | RAP does not granger cause RSP | 8.0984 | 1.76e−12*** | RAP → RSP |
| 4. | RSP does not granger cause RAP | 2.5575 | 0.004849** | RSP → RAP |
| 5. | RFP does not granger cause RSP | 6.3388 | 2.228e−09*** | RFP → RSP |
| 6. | RSP does not granger cause RFP | 2.5450 | 0.005064** | RSP → RFP |
| Sl. No. | Null hypothesis | F-statistic | Probability | Direction |
|---|---|---|---|---|
| 1. | RAP does not granger cause RFP | 2.4127 | 0.007962** | RAP → RPF |
| 2. | RFP does not granger cause RAP | 6.3768 | 1.911e−09*** | RFP → RAP |
| 3. | RAP does not granger cause RSP | 8.0984 | 1.76e−12*** | RAP → RSP |
| 4. | RSP does not granger cause RAP | 2.5575 | 0.004849** | RSP → RAP |
| 5. | RFP does not granger cause RSP | 6.3388 | 2.228e−09*** | RFP → RSP |
| 6. | RSP does not granger cause RFP | 2.5450 | 0.005064** | RSP → RFP |
Note:
The asterisks indicate the following level of significance: ***1%, **5% and *10%
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