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Financial Innovation

Table 6 Short-run causality

From: Asymmetric nexus between commercial policies and consumption-based carbon emissions: new evidence from Pakistan

Null hypothesis

F-statistics

Direction of the causality

CCP does not Granger cause CCO2

12.003***

CCP → CCO2

CC02 does not Granger cause CCP

1.837

 

ECP does not Granger cause CCO2

9.331***

ECP → CCO2

CCO2 does not Granger cause ECP

0.858

 

EXP does not Granger cause CCO2

7.175**

EXP → CCO2

CCO2 does not Granger cause EXP

1.833

 

REC does not Granger cause CCO2

8.889***

REC → CCO2

CCO2 does not Granger cause REC

2.048

 

GDP does not Granger cause CCO2

13.003***

GDP ↔ CO2

CCO2 does not Granger cause GDP

5.084*

 
  1. ***, ** and * signify the significance level at 1%, 5%, and 10%, respectively
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