Table 9 Granger Causality Test: FR vs FDI for Asia and Oceania Countries.
Country | FR → FDI | FDI → FR | Causality Findings |
|---|---|---|---|
Armenia | 4.3652 | 17.1501*** | FDI → FR |
Australia | 11.9725 | 36.41** | FDI → FR |
Azerbaijan | 36.224 | 12.2547* | FDI → FR |
Bangladesh | 19.935*** | 7.01114** | FDI ↔ FR |
China | 6.247** | 3.0014 | FR → FDI |
India | 47.00247*** | 6.1247* | FDI ↔ FR |
Indonesia | 24.3365*** | 2.2348 | FR → FDI |
Israel | 19.247 | 6.1953*** | FDI → FR |
Kazakhstan | 2.48 | 2.2301** | FDI ↔ FR |
Kyrgyz Republic | 14.248*** | 32.2214 | FR → FDI |
Malaysia | 6.0039 | 4.247*** | FDI → FR |
Maldives | 8.2584 | 4.935*** | FDI → FR |
Mongolia | 7.2247*** | 11.4147 | FR → FDI |
Nepal | 9.2284*** | 2.852*** | FDI ↔ FR |
Oman | 7.8743 | 3.369*** | FDI → FR |
Philippines | 14.872*** | 2.365* | FDI ↔ FR |
Saudi Arabia | 1.3665 | 1.021*** | FDI → FR |
Singapore | 2.984 | 6.001*** | FDI → FR |
Solomon Islands | 2.2558*** | 6.0014 | FR → FDI |
Sri Lanka | 11.395*** | 1.658 | FR → FDI |
Thailand | 6.248 | 8.248** | FDI → FR |
Vanuatu | 3.3695 | 52.365*** | FDI → FR |
