Table 4 Interpretation of granger causality test.

From: Foreign direct investment and foreign reserves linkage: a global study based on wavelet coherence and granger causality

Elements

Interpretation

FDI ↔ FR

Bidirectional causality between FDI and FR

FR → FDI

Unidirectional causality from FR to FDI

FDI ↔ FR

Unidirectional causality from FDI to FR

*

Reject H0 at 10% (0.1) level of significance

**

Reject H0 at 5% (0.05) level of significance

***

Reject H0 at 1% (0.01) level of significance

  1. Source: Authors’ compilations.
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