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Table 9 Results of Granger Causality Tests

From: Does financial depth impact economic growth in North Cyprus?

Dependent Variable

F-Statistics (Probability) long-run

Joint (Short-run and long-run)

F-Statistics (Probability)

 

ΔLGNPp

ΔLDEP

ΔINF

ECTt-1

[t-statistics]

ΔLGNPp.ECTt-1

ΔLDEP.ECTt-1

ΔINF.ECTt-1

ΔLGNPp

1.5909

(0.1551)

2.0758

(0.0606)

−0.0398

[−1.7680]c

5.1313a

(0.0021)

1.8377c

(0.0857)

ΔLDEP

0.9688

(0.4492)

0.1364

(0.9913)

0.0109

[0.9018]

1.1294

(0.3489)

0.2921

(0.9559)

ΔINF

0.0692

(0.9987)

0.3690

(0.8974)

−0.0347

[−1.2904]

0.2838

(0.9592)

0.6694

(0.6975)

  1. Note: a, b, crepresents significance at 10%, 5% and 1%, respectively