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Table 8 Granger causality tests

From: Determinants of private sector credit in Uganda: the role of mobile money

Null hypothesis

F-statistic

P-value

Conclusion

Mobile money balances does not Granger Cause Private sector credit

0.350

0.003

Reject

Private sector credit does not Granger Cause Mobile money balances

1.633

1.409

Fail to reject

Lending rates do not Granger Cause private sector credit

1.997

0.066

Reject

Private sector credit does not Granger Cause Lending rates

1.231

0.231

Fail to reject

Exchange rates does not Granger Cause Private sector credit

1.321

0.252

Fail to reject

Private sector credit does not Granger Cause Exchange rates

1.549

0.001

Reject

Core CPI does not Granger Cause Private sector credit

2.256

0.038

Reject

Private sector credit do not Granger Cause core CPI

3.341

0.004

Reject

  1. Source: Authors’ computations