Table 3. Result of granger causality analysis.
Direction of causality
Optimal lag (
k
,
l
)
F
value in
equation (3)
Result
GIT → GVA
1, 1
0.7
-
GVA → GIT
2, 2
2.1
-
GIT → GW
1, 1
1.0
-
GW → GIT
2, 2
2.2
-
GPIT → GPVA
1, 1
8.1
***
Positive (+) effect, statistically significant
GPVA → GPIT
1, 1
3.3
*
Negative (−) effect, statistically significant
p
<0.1,
p
<0.05,
p
<0.01.