Table 6 Dumitrescu and Hurlin (2012) causality tests for variables in differences.

From: Modeling the link between tourism and economic development: evidence from homogeneous panels of countries

 

H0: Tourism does not cause development

Lags

Statistics

All countries

Group A

Group B

Group C

1

Z-bar

1.7965 (0.2620)

1.6940 (0.1780)

0.1487 (0.8920)

−0.4056 (0.7300)

Z-bar tilde

0.7641 (0.4400)

1.0097 (0.3040)

−0.2267 (0.8220)

−0.7605 (0.4360)

2

Z-bar

2.6535 (0.2340)

1.5731 (0.2960)

0.9432 (0.5000)

0.7870 (0.6240)

Z-bar tilde

0.9065 (0.3900)

0.5965 (0.5440)

0.1737 (0.8620)

−0.0674 (0.9260)

3

Z-bar

5.7061 (0.0440)

0.9311 (0.6160)

1.2819 (0.4700)

6.1662 (0.0100)

Z-bar tilde

2.4091 (0.0560)

−0.2055 (0.8480)

0.1278 (0.9000)

3.3786 (0.0100)

Obs.

123

36

29

43

  1. Numbers in parentheses are p values corrected by cross-sectional dependence (500 bootstrap replications).
  2. Statistically significant: the null hypothesis of non-causality is rejected.
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