Null hypothesis | Chi-Statistic | p-value | Decision |
D (Log Exchange Rate) does not Granger Cause D (Log RGDP) | 0.18 | 0.675 | Not Reject |
D (Log RGDP) does not Granger Cause D (Log Exchange Rate) | 2.58 | 0.1082 | Not Reject |
D (Log Real Public Debt) does not Granger Cause D (Log RGDP) | 10.34 | 0.0013 | Reject |
D (Log RGDP) does not Granger Cause D (Log Real Public Debt) | 0.31 | 0.5802 | Not Reject |
D (Log Real Expenditure) does not Granger Cause D (Log RGDP) | 14.85 | 0.0001 | Reject |
D (Log RGDP) does not Granger Cause D (Log Real Expenditure) | 0.75 | 0.3866 | Not Reject |
D (Log Real Imports) does not Granger Cause D (Log RGDP) | 5.93 | 0.0149 | Reject |
D (Log RGDP) does not Granger Cause D (Log Real Imports) | 1.9 | 0.1686 | Not Reject |
D (Log Real Export) does not Granger Cause D (Log RGDP) | 5.45 | 0.0196 | Reject |
D (Log RGDP) does not Granger Cause D (Log Real Export) | 0.54 | 0.4641 | Not Reject |
D (Log Broad Money Supply M2) does not Granger Cause D (Log RGDP) | 23.19 | 0 | Reject |
D (Log RGDP) does not Granger Cause D (Log Broad Money Supply M2) | 0 | 0.9608 | Not Reject |
D (Log Real Public Debt) does not Granger Cause D (Log Exchange Rate) | 0.12 | 0.7258 | Not Reject |
D (Log Exchange Rate) does not Granger Cause D (Log Real Public Debt) | 1.82 | 0.177 | Not Reject |
D (Log Real Expenditure) does not Granger Cause D (Log Exchange Rate) | 0.07 | 0.7878 | Not Reject |
D (Log Exchange Rate) does not Granger Cause D (Log Real Expenditure) | 0.4 | 0.5285 | Not Reject |
D (Log Real Imports) does not Granger Cause D (Log Exchange Rate) | 6.89 | 0.0087 | Reject |
D (Log Exchange Rate) does not Granger Cause D (Log Real Imports) | 1.98 | 0.1599 | Not Reject |
D (Log Real Export) does not Granger Cause D (Log Exchange Rate) | 0.05 | 0.8292 | Not Reject |
D (Log Exchange Rate) does not Granger Cause D (Log Real Export) | 1.21 | 0.2705 | Not Reject |
D (Log Broad Money Supply M2) does not Granger Cause D (Log Exchange Rate) | 0.03 | 0.8652 | Not Reject |
D (Log Exchange Rate) does not Granger Cause D (Log Broad Money Supply M2) | 3.89 | 0.0487 | Reject |
D (Log Real Expenditure) does not Granger Cause D (Log Real Public Debt) | 0.11 | 0.736 | Not Reject |
D (Log Real Public Debt) does not Granger Cause D (Log Real Expenditure) | 0.01 | 0.938 | Not Reject |
D (Log Real Imports) does not Granger Cause D (Log Real Public Debt) | 0.1 | 0.7478 | Not Reject |
D (Log Real Public Debt) does not Granger Cause D (Log Real Imports) | 0.05 | 0.8303 | Not Reject |
D (Log Real Export) does not Granger Cause D (Log Real Public Debt) | 1.3 | 0.2544 | Not Reject |
D (Log Real Public Debt) does not Granger Cause D (Log Real Export) | 1.1 | 0.2943 | Not Reject |
D (Log Broad Money Supply M2) does not Granger Cause D (Log Real Public Debt) | 0.11 | 0.7406 | Not Reject |
D (Log Real Public Debt) does not Granger Cause D (Log Broad Money Supply M2) | 0.46 | 0.4953 | Not Reject |
D (Log Real Imports) does not Granger Cause D (Log Real Expenditure) | 0.08 | 0.7806 | Not Reject |
D (Log Real Expenditure) does not Granger Cause D (Log Real Imports) | 4.53 | 0.0333 | Reject |
D (Log Real Export) does not Granger Cause D (Log Real Expenditure) | 1.73 | 0.1884 | Not Reject |
D (Log Real Expenditure) does not Granger Cause D (Log Real Export) | 4.39 | 0.0361 | Reject |
D (Log Broad Money Supply M2) does not Granger Cause D (Log Real Expenditure) | 4.38 | 0.0363 | Reject |
D (Log Real Expenditure) does not Granger Cause D (Log Broad Money Supply M2) | 0.01 | 0.934 | Not Reject |
D (Log Real Export) does not Granger Cause D (Log Real Imports) | 0.82 | 0.3661 | Not Reject |
D (Log Real Imports) does not Granger Cause D (Log Real Export) | 5.34 | 0.0209 | Reject |
D (Log Broad Money Supply M2) does not Granger Cause D (Log Real Imports) | 4.63 | 0.0314 | Reject |
D (Log Real Imports) does not Granger Cause D (Log Broad Money Supply M2) | 3.29 | 0.0698 | Not Reject |
D (Log Broad Money Supply M2) does not Granger Cause D (Log Real Export) | 3.95 | 0.0469 | Reject |
D (Log Real Export) does not Granger Cause D (Log Broad Money Supply M2) | 0.46 | 0.4989 | Not Reject |