Table 4

Granger causality test results

VariablesGDPIFFDIECEG
χ2 statistics (probability value)
GDP16.2398 (0.0062)13.3671 (0.0202)2.5966 (0.7619)18.0124 (0.0029)
IF11.1911 (0.0477)11.1443 (0.0486)2.5557 (0.7681)7.6464 (0.1768)
FDI19.6189 (0.0015)9.5032 (0.0906)6.8051 (0.2355)17.9191 (0.0030)
EC7.2570 (0.2022)5.2624 (0.3847)3.5739 (0.6122)3.1616 (0.6751)
EG1.2040 (0.9445)24.7152 (0.0002)23.4288 (0.0003)2.6315 (0.7566)

Note(s): The values in the brackets indicate a probability value with 5 lags determined through AIC

Source(s): The authors

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