VEC “Granger causality test” result
| Dependent variables | Independent variables | Chi-square value | Prob. value | Outcome |
|---|---|---|---|---|
| NIFTY | D(Oil price) | 13.80647 | 0.0547 | Existence of causality |
| D(CPI) | 5.831404 | 0.5596 | No causality | |
| Oil Price | D(NIFTY) | 16.78126 | 0.0189 | Existence of causality |
| D(CPI) | 5.081864 | 0.6500 | No causality | |
| CPI | D(NIFTY) | 10.53568 | 0.1602 | No causality |
| D(Oil price) | 2.651162 | 0.9153 | No causality |
| Dependent variables | Independent variables | Chi-square value | Prob. value | Outcome |
|---|---|---|---|---|
| NIFTY | D(Oil price) | 13.80647 | 0.0547 | Existence of causality |
| D(CPI) | 5.831404 | 0.5596 | No causality | |
| Oil Price | D(NIFTY) | 16.78126 | 0.0189 | Existence of causality |
| D(CPI) | 5.081864 | 0.6500 | No causality | |
| CPI | D(NIFTY) | 10.53568 | 0.1602 | No causality |
| D(Oil price) | 2.651162 | 0.9153 | No causality |
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