Null hypothesis | F-Statistic | p-value | Decision |
D (Log Exchange Rate) does not Granger Cause D (Log RGDP) | 0.297 | 0.589 | Not Reject |
D (Log RGDP) does not Granger Cause D (Log Exchange Rate) | 1.407 | 0.243 | Not Reject |
D (Log Real Public Debt) does not Granger Cause D (Log RGDP) | 0.037 | 0.848 | Not Reject |
D (Log RGDP) does not Granger Cause D (Log Real Public Debt) | 0.002 | 0.965 | Not Reject |
D (Log Real Expenditure) does not Granger Cause D (Log RGDP) | 0.209 | 0.65 | Not Reject |
D (Log RGDP) does not Granger Cause D (Log Real Expenditure) | 0.779 | 0.383 | Not Reject |
D (Log Real Imports) does not Granger Cause D (Log RGDP) | 2.585 | 0.116 | Not Reject |
D (Log RGDP) does not Granger Cause D (Log Real Imports) | 6.444 | 0.015 | Reject |
D (Log Real Export) does not Granger Cause D (Log RGDP) | 3.121 | 0.085 | Not Reject |
D (Log RGDP) does not Granger Cause D (Log Real Export) | 1.534 | 0.223 | Not Reject |
D (Log Broad Money Supply M2) does not Granger Cause D (Log RGDP) | 4.684 | 0.037 | Reject |
D (Log RGDP) does not Granger Cause D (Log Broad Money Supply M2) | 3.539 | 0.068 | Not Reject |
D (Log Real Public Debt) does not Granger Cause D (Log Exchange Rate) | 2.187 | 0.148 | Not Reject |
D (Log Exchange Rate) does not Granger Cause D (Log Real Public Debt) | 0.842 | 0.365 | Not Reject |
D (Log Real Expenditure) does not Granger Cause D (Log Exchange Rate) | 0.801 | 0.376 | Not Reject |
D (Log Exchange Rate) does not Granger Cause D (Log Real Expenditure) | 6.328 | 0.016 | Reject |
D (Log Real Imports) does not Granger Cause D (Log Exchange Rate) | 10.103 | 0.003 | Reject |
D (Log Exchange Rate) does not Granger Cause D (Log Real Imports) | 3.717 | 0.061 | Not Reject |
D (Log Real Export) does not Granger Cause D (Log Exchange Rate) | 1.731 | 0.196 | Not Reject |
D (Log Exchange Rate) does not Granger Cause D (Log Real Export) | 0.36 | 0.552 | Not Reject |
D (Log Broad Money Supply M2) does not Granger Cause D (Log Exchange Rate) | 0.057 | 0.812 | Not Reject |
D (Log Exchange Rate) does not Granger Cause D (Log Broad Money Supply M2) | 0.386 | 0.538 | Not Reject |
D (Log Real Expenditure) does not Granger Cause D (Log Real Public Debt) | 0.114 | 0.738 | Not Reject |
D (Log Real Public Debt) does not Granger Cause D (Log Real Expenditure) | 2.978 | 0.093 | Not Reject |
D (Log Real Imports) does not Granger Cause D (Log Real Public Debt) | 0.335 | 0.566 | Not Reject |
D (Log Real Public Debt) does not Granger Cause D (Log Real Imports) | 3.298 | 0.077 | Not Reject |
D (Log Real Export) does not Granger Cause D (Log Real Public Debt) | 0.027 | 0.869 | Not Reject |
D (Log Real Public Debt) does not Granger Cause D (Log Real Export) | 0.457 | 0.503 | Not Reject |
D (Log Broad Money Supply M2) does not Granger Cause D (Log Real Public Debt) | 0.182 | 0.672 | Not Reject |
D (Log Real Public Debt) does not Granger Cause D (Log Broad Money Supply M2) | 0.02 | 0.888 | Not Reject |
D (Log Real Imports) does not Granger Cause D (Log Real Expenditure) | 2.808 | 0.102 | Not Reject |
D (Log Real Expenditure) does not Granger Cause D (Log Real Imports) | 4.389 | 0.043 | Reject |
D (Log Real Export) does not Granger Cause D (Log Real Expenditure) | 5.669 | 0.022 | Reject |
D (Log Real Expenditure) does not Granger Cause D (Log Real Export) | 2.966 | 0.093 | Not Reject |
D (Log Broad Money Supply M2) does not Granger Cause D (Log Real Expenditure) | 5.485 | 0.025 | Reject |
D (Log Real Expenditure) does not Granger Cause D (Log Broad Money Supply M2) | 0.976 | 0.329 | Not Reject |
D (Log Real Export) does not Granger Cause D (Log Real Imports) | 2.226 | 0.144 | Not Reject |
D (Log Real Imports) does not Granger Cause D (Log Real Export) | 1.559 | 0.219 | Not Reject |
D (Log Broad Money Supply M2) does not Granger Cause D (Log Real Imports) | 4.118 | 0.049 | Reject |
D (Log Real Imports) does not Granger Cause D (Log Broad Money Supply M2) | 5.127 | 0.029 | Reject |
D (Log Broad Money Supply M2) does not Granger Cause D (Log Real Export) | 2.767 | 0.104 | Not Reject |
D (Log Real Export) does not Granger Cause D (Log Broad Money Supply M2) | 1.085 | 0.304 | Not Reject |