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Panel data granger non-causality test of Dumitrescu and Hurlin (9).
| Hypothesis | W-Stat | Zbar-Stat | Prob. |
|---|---|---|---|
| ΔNCPM does not homogeneously cause GPR | 4.013*** | 6.661*** | [0.0019] |
| GPR does not homogeneously cause ΔNCPM | 0.086 | 0.248 | [0.7804] |
| ΔNDPM does not homogeneously cause GPR | 3.905*** | 6.241*** | [0.0028] |
| GPR does not homogeneously cause ΔNDPM | 1.793 | 2.109 | [0.1266] |
p < 0.01, and the p-values are in brackets.
