Results of Granger causality tests
| Variable | F-statistics | Direction of causality |
|---|---|---|
| RGEP → GEPU GEPU→RGEP | 3.26* 6.68** | Bidirectional |
| RGCP → GEPU GEPU → RGCP | 1.27 4.86** | Unidirectional |
| RGIMP → GEPU GEPU → RGIMP | 0.32 5.80** | Unidirectional |
| Variable | Direction of causality | |
|---|---|---|
| RGEP → GEPU | 3.26 | Bidirectional |
| RGCP → GEPU | 1.27 | Unidirectional |
| RGIMP → GEPU | 0.32 | Unidirectional |
Note:
** and *denote significant level at 1 and 5% respectively
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