Hypothesis

Lag phase

F-statistics

P-value

Conclusion

LLP is not a Granger cause of LHP.

1

9.96837***

0.0021

Reject

LHP is not a Granger cause of LLP.

1

4.32242**

0.0400

Reject

LLP is not a Granger cause of LHP.

2

1.41757

0.2475

Accept

LHP is not a Granger cause of LLP.

2

2.65400*

0.0757

Reject

LLP is not a Granger cause of LHP.

3

0.34266

0.7945

Accept

LHP is not a Granger cause of LLP.

3

1.92835

0.1316

Accept

LLP is not a Granger cause of LHP.

4

0.06886

0.9911

Accept

LHP is not a Granger cause of LLP.

4

1.48405

0.2169

Accept

LLP is not a Granger cause of LHP.

5

0.37367

0.8645

Accept

LHP is not a Granger cause of LLP.

5

1.27577

0.2878

Accept

LLP is not a Granger cause of LHP.

6

0.34278

0.9100

Accept

LHP is not a Granger cause of LLP.

6

0.46657

0.8290

Accept

LLP is not a Granger cause of LHP.

7

0.37834

0.9072

Accept

LHP is not a Granger cause of LLP.

7

0.40981

0.8880

Accept

LLP is not a Granger cause of LHP.

8

0.36862

0.9214

Accept

LHP is not a Granger cause of LLP.

8

0.29208

0.9579

Accept

LLP is not a Granger cause of LHP.

9

0.37622

0.8762

Accept

LHP is not a Granger cause of LLP.

9

0.85847

0.6451

Accept