Table 9.
Pairwise granger causality tests.
| Null Hypothesis: | Obs | F-Statistic | Prob. |
|---|---|---|---|
| TO doesn't Granger Cause EG | 266 | 2.52868 | 0.1413 |
| EG doesn't Granger Cause TO | 1.58799 | 0.0182 | |
| SDG doesn't Granger Cause EG | 266 | 0.77193 | 0.5444 |
| EG doesn't Granger Cause SDG | 1.34571 | 0.0237 | |
| FD doesn't Granger Cause EG | 266 | 0.57007 | 0.6846 |
| EG doesn't Granger Cause FD | 0.55716 | 0.0442 | |
| INF doesn't Granger Cause EG | 266 | 0.89636 | 0.0568 |
| EG doesn't Granger Cause INF | 1.5029 | 0.0321 | |
| TECH doesn't Granger Cause EG | 266 | 0.51214 | 0.7269 |
| EG doesn't Granger Cause TECH | 0.03066 | 0.9982 | |
| LBR doesn't Granger Cause EG | 266 | 3.59832 | 0.1372 |
| EG doesn't Granger Cause LBR | 0.30043 | 0.8775 | |
| FOP doesn't Granger Cause EG | 266 | 0.16363 | 0.1566 |
| EG doesn't Granger Cause FOP | 0.75661 | 0.0245 | |