H₀:

Lag Structure (Order of VAR)

SX does not

cause GDP

GDP does not

cause SX

MWALD statistic

MWALD statistic

1(3)

3.491075

[0.0617]

0.063937

[0.8004]

2(4)

21.43952*

[0.0000]

1.394908

[0.4979]

3(5)

36.75741*

[0.0000]*

2.309976

[0.5106]

4(6)

26.83887*

[0.0000]

128.7257*

[0.0000]