Table 7.
VECM Granger-causality results
| Variable(s) | Chi-square (χ2) values of short-run causal results | Long run causal results | ||||
|---|---|---|---|---|---|---|
| CO2e | Y | TOR | FDI | RE | ECT(− 1) | |
| CO2e | – | 0.204 (0.903) | 8.690b (0.013) | 2.213 (0.330) | 0.059 (0.970) | − 0.333b (0.030) |
| Y | 0.948 (0.624) | – | 3.598c (0.065) | 0.883 (0.643) | 1.655 (0.437) | − 0.493b (0.012) |
| TOR | 1.674 (0.432) | 8.461b (0.014) | – | 0.063 (0.968) | 3.002 (0.222) | − 0.688a (0.002) |
| FDI | 0.946 (0.623) | 9.757a (0.007) | 7.253b (0.026) | – | 2.228 (0.328) | − 2.551a (0.004) |
| RE | 1.688 (0.429) | 5.369c (0.068) | 6.454b (0.039) | 1.153 (0.568) | – | − 0.128a (0.009) |
Level of the sig. a = 1% (p < 0.01), b = 5% (p < 0.05) and at c = 10% (p < 0.1); values in () are probability values