Table 7

Panel asymmetric causality (Inf− and pov−)

Cross sectionsNull hypothesis
Inf− does not cause pov−Pov− does not cause inf−
Wald statp-valuelagDecisionWald statp-valuelagDecision
Panel63.161***0.00811Reject11.669**0.0182Reject
Botswana16.0810.35511Accept6.191*0.0592Reject
Burkina Faso14.8320.39211Accept25.526***0.0002Reject
Cameroon117.357***0.00911Reject7.211**0.0392Reject
Congo, Rep375.937***0.00011Reject3.2990.2082Accept
Gabon54.711**0.04511Reject4.7910.1072Accept
Kenya3.5750.94411Accept10.356***0.0112Reject
Madagascar64.885**0.03111Reject2.8610.2542Accept
Mauritania18.1450.30311Accept6.385**0.0542Reject
Nigeria8.9880.63911Accept2.5480.2942Accept
Senegal15.8110.36211Accept45.688***0.0002Reject
South Africa54.350**0.04511Reject3.9720.1542Accept
Togo13.2630.44511Accept21.204***0.0002Reject

Note(s): The symbols ***, ** and * represent 1%, 5 and 10% level of significance, respectively. Also, computation of p-values are based on 1,000 bootstrap replications. The lag length criteria is endogenously determined based on Bayesian information criteria (BIC)

Source(s): Authors' computations

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