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Toda-yamamoto tests of granger causality.
| Variable | Dependent Variable |
||
|---|---|---|---|
| LRGDP | LRGFDI | LRMA | |
| LRGDP | – | 0.934285 (0.6195) | 8.514521** (0.0142) |
| LRGFDI | 6.819247** (0.0329) | – | 8.931354** (0.0114) |
| LRMA | 5.129743* (0.0769) | 0.856011 (0.6617) | – |
Note: ** and * denote the rejection of null hypothesis at 5% and 10% significance levels respectively. Corresponding p-values are in parentheses.
