Table 6 Dumitrescu Hurlin panel causality tests.
Null hypothesis: | W-stat | Zbar-stat | Prob |
|---|---|---|---|
EG \(\ne\) LCF | 6.53748* | 8.12439 | 0.0000 |
LCF \(\ne\) EG | 8.21340* | 10.6225 | 0.0000 |
ELEC \(\ne\) LCF | 6.29120* | 7.75730 | 0.0000 |
LCF \(\ne\) ELEC | 0.32080 | āāā1.14201 | 0.2534 |
IND \(\ne\) LCF | 8.65406* | 11.2793 | 0.0000 |
LCF \(\ne\) IND | 1.45776 | 0.55111 | 0.5816 |
HC \(\ne\) LCF | 4.30046* | 4.76450 | 0.0000 |
LCF \(\ne\) HC | 2.08019 | 1.46992 | 0.1416 |
\({\text{RECE}}^{ + }\) \(\ne\) LCF | 9.51820* | 12.5674 | 0.0000 |
LCF \(\ne {\text{RECE}}^{ + }\) | 0.86021 | āāā0.33858 | 0.7349 |
LCF \(\ne {\text{RECE}}^{ - }\) | 2.42638** | 1.99651 | 0.0459 |
\({\text{RECE}}^{ - }\)\(\ne\) LCF | 0.99036 | āāā0.14398 | 0.8855 |