Table 6 Granger Causality Test: FR vs FDI for African Countries.
Country | FR → FDI | FDI → FR | Causality Findings |
|---|---|---|---|
Botswana | 55.156*** | 61.2348 | FR → FDI |
Cabo Verde (Cape Verde) | 2.965 | 1.9374** | FDI → FR |
Djibouti | 23.689** | 33.9347 | FR → FDI |
Egypt, Arab Rep. | 9.3654* | 23.9125 | FR → FDI |
Ethiopia | 3.2549** | 8.3695 | FR → FDI |
Ghana | 29.364*** | 1.36954* | FDI ↔ FR |
Kenya | 22.36 | 33.3999* | FDI → FR |
Madagascar | 68.93** | 21.6587 | FR → FDI |
Malawi | 11.153 | 18.4597*** | FDI → FR |
Morocco | 5.5334 | 64.985*** | FDI → FR |
Nigeria | 26.1239 | 7.1234** | FDI → FR |
Seychelles | 2.9534 | 1.9574*** | FDI → FR |
Sierra Leone | 39.128*** | 5.599* | FDI ↔ FR |
Tunisia | 2.369 | 3.661* | FDI ↔ FR |
Zambia | 8.369*** | 29.369*** | FDI ↔ FR |
