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Table 3 Panel Causality

From: Cashless payment and economic growth

Dependent variable ∆RGDP ∆EM ∆TT Chi-square ∆CP ∆Che Ect t-statistics
∆RGDP - 0.1322 1.2627 0.0865 0.4291 −3.6028***
∆EM 0.0044 - 0.3094 0.0072 0.4857 −4.0644***
∆TT 0.1954 0.0023 - 0.0719 47.2984*** −3.2676***
∆CP 0.4662 0.0194 4.9791** - 24.2170*** −1.6864
∆Che 1.7262 0.0454 1.0616 0.9946 - −6.6049***
  1. The *, ** and *** denotes rejection of the null hypothesis at the 10, 5 and 1 % level respectively. Maximum lag is automatically selected based on Schwarz information criterion