The Linkage between Imported Energy and Trade in Taiwan
Table 4
Granger causality test results of the third part of the frameworks.
Null hypothesis
-statistic
Probability
Result
ENERGY does not Granger cause ÎIM
3.01185
0.0525
Rejected*
ÎIM does not Granger cause ENERGY
0.90554
0.4067
Accepted
ENERGY does not Granger cause EX
4.67160
0.0109
Rejected**
EX does not Granger cause ENERGY
0.87260
0.4202
Accepted
ENERGY does not Granger cause EX_I
4.55679
0.0121
Rejected**
EX_I does not Granger cause ENERGY
0.92758
0.3980
Accepted
ENERGY does not Granger cause EX_HI
4.24986
0.0162
Rejected**
EX_HI does not Granger cause ENERGY
1.48400
0.2304
Accepted
ENERGY does not Granger cause ÎEX_NHI
1.66973
0.1766
Accepted
ÎEX_NHI does not Granger cause ENERGY
0.38545
0.7637
Accepted
OIL does not Granger cause ÎIM
3.61486
0.0295
Rejected**
ÎIM does not Granger cause OIL
0.21409
0.8075
Accepted
OIL does not Granger cause EX
9.13576
0.0002
Rejected***
EX does not Granger cause OIL
1.31452
0.2720
Accepted
OIL does not Granger cause EX_I
9.11179
0.0002
Rejected***
EX_I does not Granger cause OIL
1.42001
0.2452
Accepted
OIL does not Granger cause EX_HI
8.40103
0.0004
Rejected***
EX_HI does not Granger cause OIL
2.07448
0.1296
Accepted
OIL does not Granger cause ÎEX_NHI
4.45012
0.0052
Rejected***
ÎEX_NHI does not Granger cause OIL
1.26568
0.2888
Accepted
COAL does not Granger cause ÎIM
1.49041
0.2289
Accepted
ÎIM does not Granger cause COAL
7.77420
0.0006
Rejected***
COAL does not Granger cause EX
1.30278
0.2762
Accepted
EX does not Granger cause COAL
7.48613
0.0001
Rejected***
COAL does not Granger cause EX_I
1.29781
0.2779
Accepted
EX_I does not Granger cause COAL
7.67668
<0.001
Rejected***
COAL does not Granger cause EX_HI
2.28715
0.1054
Accepted
EX_HI does not Granger cause COAL
9.02300
0.0002
Rejected***
COAL does not Granger cause ÎEX_NHI
0.98330
0.4028
Accepted
ÎEX_NHI does not Granger cause COAL
3.38181
0.0202
Rejected**
GAS does not Granger cause ÎIM
2.32756
0.1014
Accepted
ÎIM does not Granger cause GAS
1.33712
0.2660
Accepted
GAS does not Granger cause EX
2.17586
0.1174
Accepted
EX does not Granger cause GAS
4.70585
0.0106
Rejected**
GAS does not Granger cause EX_I
2.12137
0.1238
Accepted
EX_I does not Granger cause GAS
4.73500
0.0103
Rejected**
GAS does not Granger cause EX_HI
2.37697
0.0966
Rejected*
EX_HI does not Granger cause GAS
4.41751
0.0138
Rejected**
GAS does not Granger cause ÎEX_NHI
4.23376
0.0068
Rejected***
ÎEX_NHI does not Granger cause GAS
4.39757
0.0055
Rejected***
Note: (1) ***, **, and *represent significance at the 1%, 5%, and 10% levels, respectively. (2) Î denotes the nonstationary series variable after first-order differences.
