| Null hypothesis | F-statistic | Prob. |
| LGT is not the Granger cause of LGDP | 1.09769 | 0.3707 |
| LGDP is not the Granger cause of LGT | 2.08799 | 0.1747 |
| LPT is not the Granger cause of LGDP | 4.13097 | 0.0492** |
| LGDP is not the Granger cause of LPT | 10.0997 | 0.0040** |
| LJY is not the Granger cause of LGDP | 1.23934 | 0.3305 |
| LGDP is not the Granger cause of LJY | 4.58143 | 0.0387** |
| LPT is not the Granger cause of LGT | 1.12686 | 0.3620 |
| LGT is not the Granger cause of LPT | 3.38258 | 0.0755* |
| LJY is not the Granger cause of LGT | 1.34699 | 0.3034 |
| LGT is not the Granger cause of LJY | 3.32160 | 0.0783* |
| LJY is not the Granger cause of LPT | 2.72947 | 0.1133 |
| LPT is not the Granger cause of LJY | 3.80004 | 0.0592* |