Table 8 Granger Causality Test: FR vs FDI for South American Countries.

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

Country

FR → FDI

FDI → FR

Causality Findings

Argentina

6.8243**

1.264***

FDI ↔ FR

Bolivia

1.95389

56.234***

FDI → FR

Brazil

11.6655

1.2143*

FDI → FR

Paraguay

18.508***

3.2569

FR → FDI

Uruguay

21.972***

5.3654

FR → FDI

  1. Source: Authors’ compilations.
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