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  5. Volume 1, Number 1, 2022
  6. Article
  7. Table 6

Economic Impact of Some Determinant Factors of Nigerian Inflation Rate

Table 6.

Pairwise Granger Causality Test Result

Pairwise Granger Causality Tests

Sample: 1970 2017

 

Lags: 2

 

 

 

 

 

 

 

 

 

 

 Null Hypothesis:

Obs

F-Statistic

Prob. 

 

 

 

 

 

 

 

 

 DCPI does not Granger Cause INF

 42

 0.53178

0.5920

 INF does not Granger Cause DCPI

 0.06534

0.9369

 

 

 

 

 

 

 

 

 DEXCH_RATE does not Granger Cause INF

 45

 3.45897

0.0412

 INF does not Granger Cause DEXCH_RATE

 0.76806

0.4706

 

 

 

 

 

 

 

 

 DFOREX_RESV does not Granger Cause INF

 45

 0.32687

0.7231

 INF does not Granger Cause DFOREX_RESV

 0.11905

0.8881

 

 

 

 

 

 

 

 

 DINT_RATE does not Granger Cause INF

 45

 0.61785

0.5442

 INF does not Granger Cause DINT_RATE

 1.98839

0.1502

 

 

 

 

 

 

 

 

 DMON_SUP does not Granger Cause INF

 45

 2.17718

0.1266

 INF does not Granger Cause DMON_SUP

 0.60910

0.5488

 

 

 

 

 

 

 

 

 DREAL_GDP does not Granger Cause INF

 44

 0.93712

0.4004

 INF does not Granger Cause DREAL_GDP

 0.50579

0.6069

 

 

 

 

 

 

 

 

 DREAL_INC does not Granger Cause INF

 45

 1.53824

0.2272

 INF does not Granger Cause DREAL_INC

 0.21218

0.8097

 

 

 

 

 

 

 

 

 DTOTAL_EXPORT does not Granger Cause INF

 45

 0.61868

0.5437

 INF does not Granger Cause DTOTAL_EXPORT

 1.10495

0.3411

 

 

 

 

 

 

 

 

 DTOTAL_IMPORTS does not Granger Cause INF

 45

 4.19421

0.0222

 INF does not Granger Cause DTOTAL_IMPORTS

 0.12121

0.8862

 

 

 

 

 

 

 

 

 DEXCH_RATE does not Granger Cause DCPI

 42

 0.71287

0.4968

 DCPI does not Granger Cause DEXCH_RATE

 0.03697

0.9637

 

 

 

 

 

 

 

 

 DFOREX_RESV does not Granger Cause DCPI

 42

 0.04115

0.9597

 DCPI does not Granger Cause DFOREX_RESV

 0.27867

0.7584

 

 

 

 

 

 

 

 

 DINT_RATE does not Granger Cause DCPI

 42

 1.55147

0.2254

 DCPI does not Granger Cause DINT_RATE

 0.01021

0.9898

 

 

 

 

 

 

 

 

 DMON_SUP does not Granger Cause DCPI

 42

 1.14324

0.3298

 DCPI does not Granger Cause DMON_SUP

 0.47489

0.6257

 

 

 

 

 

 

 

 

 DREAL_GDP does not Granger Cause DCPI

 42

 7.26602

0.0022

 DCPI does not Granger Cause DREAL_GDP

 13.9845

3.E-05

 

 

 

 

 

 

 

 

 DREAL_INC does not Granger Cause DCPI

 42

 0.51471

0.6019

 DCPI does not Granger Cause DREAL_INC

 0.85610

0.4331

 

 

 

 

 

 

 

 

 DTOTAL_EXPORT does not Granger Cause DCPI

 42

 0.17027

0.8441

 DCPI does not Granger Cause DTOTAL_EXPORT

 1.57192

0.2212

 

 

 

 

 

 

 

 

 DTOTAL_IMPORTS does not Granger Cause DCPI

 42

 0.08682

0.9170

 DCPI does not Granger Cause DTOTAL_IMPORTS

 0.30884

0.7362

 

 

 

 

 

 

 

 

 DFOREX_RESV does not Granger Cause DEXCH_RATE

 45

 0.47748

0.6238

 DEXCH_RATE does not Granger Cause DFOREX_RESV

 0.03400

0.9666

 

 

 

 

 

 

 

 

 DINT_RATE does not Granger Cause DEXCH_RATE

 45

 0.05822

0.9435

 DEXCH_RATE does not Granger Cause DINT_RATE

 2.29453

0.1139

 

 

 

 

 

 

 

 

 DMON_SUP does not Granger Cause DEXCH_RATE

 45

 1.13543

0.3314

 DEXCH_RATE does not Granger Cause DMON_SUP

 0.02636

0.9740

 

 

 

 

 

 

 

 

 DREAL_GDP does not Granger Cause DEXCH_RATE

 43

 0.56280

0.5743

 DEXCH_RATE does not Granger Cause DREAL_GDP

 0.29748

0.7444

 

 

 

 

 

 

 

 

 DREAL_INC does not Granger Cause DEXCH_RATE

 45

 0.01070

0.9894

 DEXCH_RATE does not Granger Cause DREAL_INC

 1.33801

0.2739

 

 

 

 

 

 

 

 

 DTOTAL_EXPORT does not Granger Cause DEXCH_RATE

 45

 1.83918

0.1721

 DEXCH_RATE does not Granger Cause DTOTAL_EXPORT

 0.00374

0.9963

 

 

 

 

 

 

 

 

 DTOTAL_IMPORTS does not Granger Cause DEXCH_RATE

 45

 0.03062

0.9699

 DEXCH_RATE does not Granger Cause DTOTAL_IMPORTS

 1.30185

0.2833

 

 

 

 

 

 

 

 

 DINT_RATE does not Granger Cause DFOREX_RESV

 45

 0.63625

0.5345

 DFOREX_RESV does not Granger Cause DINT_RATE

 0.32947

0.7212

 

 

 

 

 

 

 

 

 DMON_SUP does not Granger Cause DFOREX_RESV

 45

 4.46308

0.0178

 DFOREX_RESV does not Granger Cause DMON_SUP

 0.06667

0.9356

 

 

 

 

 

 

 

 

 DREAL_GDP does not Granger Cause DFOREX_RESV

 43

 0.52696

0.5947

 DFOREX_RESV does not Granger Cause DREAL_GDP

 0.25839

0.7736

 

 

 

 

 

 

 

 

 DREAL_INC does not Granger Cause DFOREX_RESV

 45

 0.70704

0.4992

 DFOREX_RESV does not Granger Cause DREAL_INC

 0.12341

0.8842

 

 

 

 

 

 

 

 

 DTOTAL_EXPORT does not Granger Cause DFOREX_RESV

 45

 5.91458

0.0056

 DFOREX_RESV does not Granger Cause DTOTAL_EXPORT

 2.35553

0.1079

 

 

 

 

 

 

 

 

 DTOTAL_IMPORTS does not Granger Cause DFOREX_RESV

 45

 1.16218

0.3231

 DFOREX_RESV does not Granger Cause DTOTAL_IMPORTS

 3.79317

0.0310

 

 

 

 

 

 

 

 

 DMON_SUP does not Granger Cause DINT_RATE

 45

 0.77576

0.4672

 DINT_RATE does not Granger Cause DMON_SUP

 0.04056

0.9603

 

 

 

 

 

 

 

 

 DREAL_GDP does not Granger Cause DINT_RATE

 43

 0.65402

0.5257

 DINT_RATE does not Granger Cause DREAL_GDP

 0.43787

0.6486

 

 

 

 

 

 

 

 

 DREAL_INC does not Granger Cause DINT_RATE

 45

 0.17761

0.8379

 DINT_RATE does not Granger Cause DREAL_INC

 0.24187

0.7863

 

 

 

 

 

 

 

 

 DTOTAL_EXPORT does not Granger Cause DINT_RATE

 45

 0.45872

0.6354

 DINT_RATE does not Granger Cause DTOTAL_EXPORT

 0.59062

0.5587

 

 

 

 

 

 

 

 

 DTOTAL_IMPORTS does not Granger Cause DINT_RATE

 45

 0.32727

0.7228

 DINT_RATE does not Granger Cause DTOTAL_IMPORTS

 0.12081

0.8865

 

 

 

 

 

 

 

 

 DREAL_GDP does not Granger Cause DMON_SUP

 43

 0.02222

0.9780

 DMON_SUP does not Granger Cause DREAL_GDP

 0.38987

0.6798

 

 

 

 

 

 

 

 

 DREAL_INC does not Granger Cause DMON_SUP

 45

 0.85062

0.4347

 DMON_SUP does not Granger Cause DREAL_INC

 2.08959

0.1370

 

 

 

 

 

 

 

 

 DTOTAL_EXPORT does not Granger Cause DMON_SUP

 45

 7.06494

0.0024

 DMON_SUP does not Granger Cause DTOTAL_EXPORT

 0.60688

0.5500

 

 

 

 

 

 

 

 

 DTOTAL_IMPORTS does not Granger Cause DMON_SUP

 45

 1.95612

0.1547

 DMON_SUP does not Granger Cause DTOTAL_IMPORTS

 1.76321

0.1846

 

 

 

 

 

 

 

 

 DREAL_INC does not Granger Cause DREAL_GDP

 43

 0.48779

0.6178

 DREAL_GDP does not Granger Cause DREAL_INC

 1.02711

0.3678

 

 

 

 

 

 

 

 

 DTOTAL_EXPORT does not Granger Cause DREAL_GDP

 43

 0.40501

0.6698

 DREAL_GDP does not Granger Cause DTOTAL_EXPORT

 1.55264

0.2248

 

 

 

 

 

 

 

 

 DTOTAL_IMPORTS does not Granger Cause DREAL_GDP

 43

 0.05941

0.9424

 DREAL_GDP does not Granger Cause DTOTAL_IMPORTS

 0.27312

0.7625

 

 

 

 

 

 

 

 

 DTOTAL_EXPORT does not Granger Cause DREAL_INC

 45

 0.57054

0.5697

 DREAL_INC does not Granger Cause DTOTAL_EXPORT

 0.34622

0.7095

 

 

 

 

 

 

 

 

 DTOTAL_IMPORTS does not Granger Cause DREAL_INC

 45

 0.78441

0.4633

 DREAL_INC does not Granger Cause DTOTAL_IMPORTS

 6.09581

0.0049

 

 

 

 

 

 

 

 

 DTOTAL_IMPORTS does not Granger Cause DTOTAL_EXPORT

 45

 6.90353

0.0027

 DTOTAL_EXPORT does not Granger Cause DTOTAL_IMPORTS

 0.59969

0.5538