Null Hypothesis:

Obs

F-Stat (P value)

Direction of causality

$\ln CO{P}_t$ does not Granger Cause $\ln GDP{C}_t$

34

3.008 (0.047)**

Unidirectional causality

$\ln GDP{C}_t$ does not Granger Cause $\ln CO{P}_t$

1.488 (0.240)

No causality

$\ln EX{C}_t$ does not Granger Cause $\ln GDP{C}_t$

34

1.244 (0.312)

No causality

$\ln GDP{C}_t$ does not Granger Cause $\ln EX{C}_t$

1.462 (0.247)

No causality

$\ln EX{C}_t$ does not Granger Cause $\ln CO{P}_t$

34

1.814 (0.168)

No causality

$\ln CO{P}_t$ does not Granger Cause $\ln EX{C}_t$

2.576 (0.074)*

Unidirectional causality