Influence of Exchange Rate on Foreign Direct Investment Inflows: An Empirical Analysis Based on Co-Integration and Granger Causality Test

Table 9

Granger causality test.

Lags: 2
Null hypothesis	Obs	F-statistic	Prob.
lnUSDCNY does not Granger cause lnUSAFDI	33	3.34533	0.0498
lnUSAFDI does not Granger cause lnUSDCNY	33	1.30270	0.2878
lnWAGE does not Granger cause lnUSAFDI	33	0.80538	0.4570
lnUSAFDI does not Granger cause lnWAGE	33	5.24916	0.0116
lnGDPX does not Granger cause lnUSAFDI	33	4.07879	0.0279
lnUSAFDI does not Granger cause lnGDPX	33	4.80375	0.0161
lnFGDPX does not Granger cause lnUSAFDI	33	0.67776	0.5159
lnUSAFDI does not Granger cause lnFGDPX	33	2.55569	0.0956
lnBSGDP does not Granger cause lnUSAFDI	33	0.34178	0.7134
lnUSAFDI does not Granger cause lnBSGDP	33	5.52530	0.0095
lnTMX does not Granger cause lnUSAFDI	33	0.34703	0.7098
lnUSAFDI does not Granger cause lnTMX	33	0.20909	0.8126