Table 5 Results from granger causality... | Emerald Publishing

Table 5

Results from granger causality test

Source of causation
Dependent variables	Short-run (F-Statistics)					Long-run
	GDP	FD	ICT	INF	TRD	ECT(t-Statistic)
GDP	–	4.5203**	11.7789***	8.0375***	2.7558*	−1.6212**
FD	2.5828*	–	0.2524	1.6018	0.2958	2.0422**
ICT	8.5096***	10.4155***	–	0.5482	1.0315	0.4624
INF	0.0820	2.6098*	1.3287	–	0.1083	2.3284**
TRD	5.9189***	0.5522	1.5595	15.1492***	–	−11.8838***

Source of causation
Dependent variables	Short-run (F-Statistics)					Long-run
	GDP	FD	ICT	INF	TRD	ECT(t-Statistic)
GDP	–	4.5203**	11.7789***	8.0375***	2.7558*	−1.6212**
FD	2.5828*	–	0.2524	1.6018	0.2958	2.0422**
ICT	8.5096***	10.4155***	–	0.5482	1.0315	0.4624
INF	0.0820	2.6098*	1.3287	–	0.1083	2.3284**
TRD	5.9189***	0.5522	1.5595	15.1492***	–	−11.8838***

Note(s): ***, **, * denotes significance at 1%, 5% and 10% level, respectively

Source(s): Own elaboration