S/N | Pairwise Relations | F-statistics |
1. | Money growth does not granger causes inflation | 24.605* |
Inflation does not granger causes money growth | 10.548* | |
2. | Inflation does not granger causes exchange rate | 1.229 |
Exchange rate does not granger causes inflation | 7.274* | |
3. | Inflation does not granger causes imports capacity | 7.828* |
Imports capacity does not granger causes inflation | 11.740* | |
4. | Interest rate does not granger causes inflation | 0.455 |
Inflation does not granger causes interest rate | 2.984** | |
5. | Fiscal deficit financing does not granger causes inflation | 0.123 |
Inflation does not granger causes fiscal deficit financing | 1.278 | |
6. | Budget deficit financing does not granger causes inflation | 5.468* |
Inflation does not granger causes budget deficit financing | 1.821 | |
7. | Domestic financing does not granger causes inflation | 0.123 |
Inflation does not granger causes domestic financing | 1.079 | |
8. | Foreign financing does not granger causes inflation | 2.992** |
Inflation does not granger causes foreign financing | 0.631 |