Table 8 Panel asymmetric causality (Inf...

Table 8

Panel asymmetric causality (Inf⁻ and pov⁺)

Cross sections	Null hypothesis
	Inf⁻ does not cause pov⁺				Pov⁺ does not cause inf⁻
	Wald stat	p-value	lag	Decision	Wald stat	p-value	lag	Decision
Panel	40.251**	0.046	11	Reject	2.194	0.683	1	Accept
Botswana	8.088	0.689	11	Accept	5.554**	0.024	1	Reject
Burkina faso	16.022	0.356	11	Accept	0.881	0.354	1	Accept
Cameroon	15.945	0.359	11	Accept	5.626**	0.023	1	Reject
Congo, Rep.	114.648***	0.009	11	Reject	2.407	0.130	1	Accept
Gabon	16.131	0.353	11	Accept	0.952	0.336	1	Accept
Kenya	23.898	0.202	11	Accept	0.007	0.932	1	Accept
Madagascar	62.120**	0.034	11	Reject	0.036	0.850	1	Accept
Mauritania	29.088	0.147	11	Accept	9.755***	0.004	1	Reject
Nigeria	36.150*	0.099	11	Reject	0.003	0.956	1	Accept
Senegal	61.639**	0.035	11	Reject	0.163	0.689	1	Accept
South Africa	32.833	0.119	11	Accept	0.001	0.975	1	Accept
Togo	66.455**	0.030	11	Reject	0.948	0.337	1	Accept

Cross sections	Null hypothesis
	Inf⁻ does not cause pov⁺				Pov⁺ does not cause inf⁻
	Wald stat	p-value	lag	Decision	Wald stat	p-value	lag	Decision
Panel	40.251**	0.046	11	Reject	2.194	0.683	1	Accept
Botswana	8.088	0.689	11	Accept	5.554**	0.024	1	Reject
Burkina faso	16.022	0.356	11	Accept	0.881	0.354	1	Accept
Cameroon	15.945	0.359	11	Accept	5.626**	0.023	1	Reject
Congo, Rep.	114.648***	0.009	11	Reject	2.407	0.130	1	Accept
Gabon	16.131	0.353	11	Accept	0.952	0.336	1	Accept
Kenya	23.898	0.202	11	Accept	0.007	0.932	1	Accept
Madagascar	62.120**	0.034	11	Reject	0.036	0.850	1	Accept
Mauritania	29.088	0.147	11	Accept	9.755***	0.004	1	Reject
Nigeria	36.150*	0.099	11	Reject	0.003	0.956	1	Accept
Senegal	61.639**	0.035	11	Reject	0.163	0.689	1	Accept
South Africa	32.833	0.119	11	Accept	0.001	0.975	1	Accept
Togo	66.455**	0.030	11	Reject	0.948	0.337	1	Accept

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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