Table 7 Panel VAR-Granger causality Wald test

Equation Excluded chi2 df p-value
COMP JPG 2.383 1 0.123
PPG 0.257 1 0.612
PJRD 34.808 1 0.000
ALL 61.571 3 0.000
JPG COMP 12.203 1 0.000
PPG 25.678 1 0.000
PJRD 14.568 1 0.000
ALL 37.178 3 0.000
PPG COMP 5.555 1 0.018
JPG 13.312 1 0.000
PJRD 5.171 1 0.023
ALL 56.753 3 0.000
PJRD COMP 12.314 1 0.000
JPG 0.065 1 0.798
PPG 8.548 1 0.003
ALL 42.227 3 0.000