Table 9 Granger causality for pair variables in model 7 (total)

BankReturn

–

1.9395

0.15928

16.096***

1.2721

2.4653

1.1427

28.882***

FinFintech

3.3195

–

1.8912

156.67***

2.9112

3.9989

0.75953

179.51***

FinPayment

3.5353

0.84315

–

127.93***

2.1413

7.5292**

0.80516

152.71***

FinLending

25.61***

0.49132

0.91805

–

3.7406

0.47894

1.5426

38.559***

FinMoney

2.7433

9.7181***

1.555

1.8949

–

2.7632

2.1868

23.438**

FinWallet

2.2384

0.63603

3.1008

168.83***

2.2134

–

0.62177

191.63***

FinProduct

2.9429

11.781***

2.0084

0.35991

0.1992

3.2744

–

24.218**