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Table 13 Short run causality from FD to REM: Wald Test

From: Do remittances promote financial development in Africa?

Dependent variable

Remittances

CRD (1–4 lags)

BDP (1–4 lags)

M2 (1–4 lags)

F-statistic

0.1774

0.1604

0.2746

Prob

0.9500

0.9583

0.8944

chi 2

0.7098

0.6415

1.0983

Prob > chi 2

0.9501

0.9583

0.8945