Table 6.
Results of the Dumitrescu and Hurlin (2012) Panel causality.
| Null Hypothesis: | W-Stat. | Zbar-Stat. | Prob. |
|---|---|---|---|
| LGDP ≠>LCO2 | 7.1128∗∗∗ | 2.61578 | 0.0089 |
| LCO2 ≠>LGDP | 6.26784∗∗∗ | 1.80104 | 0.0717 |
| LAGR ≠>LCO2 | 7.12573∗∗∗ | 2.62825 | 0.0086 |
| LCO2 ≠>LAGR | 7.06639∗∗ | 2.57103 | 0.0101 |
| LNRT ≠>LCO2 | 5.36759 | 0.93298 | 0.3508 |
| LCO2 ≠>LNRT | 5.74489 | 1.29679 | 0.1947 |
| LURB ≠>LCO2 | 9.49678∗∗∗ | 4.9145 | 9.00E-07 |
| LCO2 ≠>LURB | 24.106∗∗∗ | 19.0013 | 0.0000 |
| LAGR ≠>LGDP | 6.98529∗∗ | 2.49283 | 0.0127 |
| LGDP ≠>LAGR | 7.96462∗∗∗ | 3.43713 | 0.0006 |
| LNRT ≠>LGDP | 4.96563 | 0.5454 | 0.5855 |
| LGDP ≠>LNRT | 8.2139∗∗∗ | 3.6775 | 0.0002 |
| LURB ≠>LGDP | 7.05484∗∗ | 2.55989 | 0.0105 |
| LGDP ≠>LURB | 19.152∗∗∗ | 14.2244 | 0.0000 |
| LNRT ≠>LAGR | 4.8568 | 0.44047 | 0.6596 |
| LAGR ≠>LNRT | 5.03036 | 0.60782 | 0.5433 |
| LURB ≠>LAGR | 9.09908∗∗∗ | 4.53102 | 6.00E-06 |
| LAGR ≠>LURB | 10.8896∗∗∗ | 6.25754 | 4.00E-10 |
| LURB ≠>LNRT | 7.44082∗∗∗ | 2.93207 | 0.0034 |
| LNRT ≠>LURB | 9.69878∗∗∗ | 5.10928 | 3.00E-07 |
Note: ∗∗∗.∗∗ and ∗ means 0.01,0.05 and 0.10 statistical rejection level.
Source: Authors computation