| Null hypothesis | Number of samples | Lag order | F statistics | possibility |
| LnSZZ is not a Granger reason for LnGDP | 58 | 2 | 10.7284 | 0.0001 |
| LnGDP is notLnSZZ reason for LnGDP |
|
| 0.3006 | 0.7416 |
| LnINDU is notLnGDP reason for LnGDP | 58 | 2 | 2.8027 | 0.0697 |
| LnGDP is not LnINDU reason for LnGDP |
|
| 0.8707 | 0.4245 |
| LnTRADE is not LnGDP reason for LnGDP | 58 | 2 | 3.0882 | 0.0539 |
| LnGDP is not LnTRADE reason for LnGDP |
|
| 1.9033 | 0.1591 |
| LnINDU is not LnSZZ reason for LnGDP | 58 | 2 | 2.6281 | 0.0816 |
| LnSZZ is not LnINDU reason for LnGDP |
|
| 1.3824 | 0.2599 |
| LnTRADE is not LnSZZ reason for LnGDP | 58 | 2 | 4.4527 | 0.0163 |
| LnSZZ is not LnTRADE reason for LnGDP |
|
| 2.5453 | 0.0880 |
| LnTRADE is not LnINDU reason for LnGDP | 58 | 2 | 23.8997 | 0.0000 |
| LnINDU is not LnTRADE reason for LnGDP |
|
| 11.0348 | 0.0001 |