1. Uji Akar Unit Pertumbuhan Ekonomi Indonesia (Level) - Analisis Kausalitas antara FDI dan Pertumbuhan Ekonomi di ASEAN

  LAMPIRAN

  1. Uji Akar Unit Pertumbuhan Ekonomi Indonesia (Level)

  Null Hypothesis: GDP has a unit root Exogenous: Constant Lag Length: 0 (Automatic based on SIC, MAXLAG=7) t-Statistic Prob.* Augmented Dickey-Fuller test statistic -4.062024 0.0037 Test critical values: 1% level -3.661661

  5% level -2.960411 10% level -2.619160 *MacKinnon (1996) one-sided p-values.

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  2. Uji Akar Unit Pertumbuhan Ekonomi Indonesia (1 different)

  Null Hypothesis: D(GDP) has a unit root Exogenous: Constant Lag Length: 0 (Automatic based on SIC, MAXLAG=7) t-Statistic Prob.* Augmented Dickey-Fuller test statistic -7.571646 0.0000 Test critical values: 1% level -3.670170

  5% level -2.963972 10% level -2.621007 *MacKinnon (1996) one-sided p-values.

  3. Uji Akar Unit FDI Indonesia (Level)

  Null Hypothesis: FDI has a unit root Exogenous: Constant Lag Length: 0 (Automatic based on SIC, MAXLAG=7) t-Statistic Prob.* Augmented Dickey-Fuller test statistic -1.988113 0.2902 Test critical values: 1% level -3.661661

  5% level -2.960411 10% level -2.619160 *MacKinnon (1996) one-sided p-values.

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  4. Uji Akar Unit FDI Indonesia (1 different)

  Null Hypothesis: D(FDI) has a unit root Exogenous: Constant Lag Length: 0 (Automatic based on SIC, MAXLAG=7) t-Statistic Prob.* Augmented Dickey-Fuller test statistic -4.763840 0.0006 Test critical values: 1% level -3.670170

  5% level -2.963972 10% level -2.621007 *MacKinnon (1996) one-sided p-values.

  5. Uji Akar Unit Pertumbuhan Ekonomi Malaysia (Level)

  Null Hypothesis: GDP has a unit root Exogenous: Constant Lag Length: 0 (Automatic based on SIC, MAXLAG=7) t-Statistic Prob.* Augmented Dickey-Fuller test statistic -4.476055 0.0013 Test critical values: 1% level -3.661661

  5% level -2.960411 10% level -2.619160 *MacKinnon (1996) one-sided p-values.

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  6. Uji Akar Unit Pertumbuhan Ekonomi Malaysia (1 different)

  Null Hypothesis: D(GDP) has a unit root Exogenous: Constant Lag Length: 1 (Automatic based on SIC, MAXLAG=7) t-Statistic Prob.* Augmented Dickey-Fuller test statistic -6.776137 0.0000 Test critical values: 1% level -3.679322

  5% level -2.967767 10% level -2.622989 *MacKinnon (1996) one-sided p-values.

  7. Uji Akar Unit FDI Malaysia (Level)

  Null Hypothesis: FDI has a unit root Exogenous: Constant Lag Length: 0 (Automatic based on SIC, MAXLAG=7) t-Statistic Prob.* Augmented Dickey-Fuller test statistic -2.688404 0.0874 Test critical values: 1% level -3.661661

  5% level -2.960411 10% level -2.619160 *MacKinnon (1996) one-sided p-values.

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  8. Uji Akar Unit FDI Malaysia (1 different)

  Null Hypothesis: D(FDI) has a unit root Exogenous: Constant Lag Length: 0 (Automatic based on SIC, MAXLAG=7) t-Statistic Prob.* Augmented Dickey-Fuller test statistic -5.983209 0.0000 Test critical values: 1% level -3.670170

  5% level -2.963972 10% level -2.621007 *MacKinnon (1996) one-sided p-values.

  9. Uji Akar Unit Pertumbuhan Ekonomi Filipina (Level)

  Null Hypothesis: GDP has a unit root Exogenous: Constant Lag Length: 0 (Automatic based on SIC, MAXLAG=7) t-Statistic Prob.* Augmented Dickey-Fuller test statistic -3.133739 0.0343 Test critical values: 1% level -3.661661

  5% level -2.960411 10% level -2.619160 *MacKinnon (1996) one-sided p-values.

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  10. Uji Akar Unit Pertumbuhan Ekonomi Filipina (1 different)

  Null Hypothesis: D(GDP) has a unit root Exogenous: Constant Lag Length: 6 (Automatic based on SIC, MAXLAG=7) t-Statistic Prob.* Augmented Dickey-Fuller test statistic -4.884310 0.0007 Test critical values: 1% level -3.737853

  5% level -2.991878 10% level -2.635542 *MacKinnon (1996) one-sided p-values.

  11. Uji Akar Unit FDI Filipina (Level)

  Null Hypothesis: FDI has a unit root Exogenous: Constant Lag Length: 0 (Automatic based on SIC, MAXLAG=7) t-Statistic Prob.* Augmented Dickey-Fuller test statistic -3.959805 0.0048 Test critical values: 1% level -3.661661

  5% level -2.960411 10% level -2.619160 *MacKinnon (1996) one-sided p-values.

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  12. Uji Akar Unit FDI Filipina (1 different)

  Null Hypothesis: D(FDI) has a unit root Exogenous: Constant Lag Length: 0 (Automatic based on SIC, MAXLAG=7) t-Statistic Prob.* Augmented Dickey-Fuller test statistic -10.30817 0.0000 Test critical values: 1% level -3.670170

  5% level -2.963972 10% level -2.621007 *MacKinnon (1996) one-sided p-values.

  13. Uji Akar Unit Pertumbuhan Ekonomi Singapura (Level)

  Null Hypothesis: GDP has a unit root Exogenous: Constant Lag Length: 0 (Automatic based on SIC, MAXLAG=7) t-Statistic Prob.* Augmented Dickey-Fuller test statistic -4.973952 0.0003 Test critical values: 1% level -3.661661

  5% level -2.960411 10% level -2.619160 *MacKinnon (1996) one-sided p-values.

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  14. Uji Akar Unit Pertumbuhan Ekonomi Singapura (1 different)

  Null Hypothesis: D(GDP) has a unit root Exogenous: Constant Lag Length: 1 (Automatic based on SIC, MAXLAG=7) t-Statistic Prob.* Augmented Dickey-Fuller test statistic -7.673648 0.0000 Test critical values: 1% level -3.679322

  5% level -2.967767 10% level -2.622989 *MacKinnon (1996) one-sided p-values.

  15. Uji Akar Unit FDI Singapura (Level)

  Null Hypothesis: FDI has a unit root Exogenous: Constant Lag Length: 0 (Automatic based on SIC, MAXLAG=7) t-Statistic Prob.* Augmented Dickey-Fuller test statistic -3.309667 0.0230 Test critical values: 1% level -3.661661

  5% level -2.960411 10% level -2.619160 *MacKinnon (1996) one-sided p-values.

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  16. Uji Akar Unit FDI Singapura (1 different)

  Null Hypothesis: D(FDI) has a unit root Exogenous: Constant Lag Length: 4 (Automatic based on SIC, MAXLAG=7) t-Statistic Prob.* Augmented Dickey-Fuller test statistic -5.562109 0.0001 Test critical values: 1% level -3.711457

  5% level -2.981038 10% level -2.629906 *MacKinnon (1996) one-sided p-values.

  17. Uji Akar Unit Pertumbuhan Ekonomi Thailand (Level)

  Null Hypothesis: GDP has a unit root Exogenous: Constant Lag Length: 0 (Automatic based on SIC, MAXLAG=7) t-Statistic Prob.* Augmented Dickey-Fuller test statistic -3.236656 0.0272 Test critical values: 1% level -3.661661

  5% level -2.960411 10% level -2.619160 *MacKinnon (1996) one-sided p-values.

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  18. Uji Akar Unit Pertumbuhan Ekonomi Thailand (1 different)

  Null Hypothesis: D(GDP) has a unit root Exogenous: Constant Lag Length: 0 (Automatic based on SIC, MAXLAG=7) t-Statistic Prob.* Augmented Dickey-Fuller test statistic -7.002510 0.0000 Test critical values: 1% level -3.670170

  5% level -2.963972 10% level -2.621007 *MacKinnon (1996) one-sided p-values.

  19. Uji Akar Unit FDI Thailand (Level)

  Null Hypothesis: FDI has a unit root Exogenous: Constant Lag Length: 0 (Automatic based on SIC, MAXLAG=7) t-Statistic Prob.* Augmented Dickey-Fuller test statistic -2.330494 0.1692 Test critical values: 1% level -3.661661

  5% level -2.960411 10% level -2.619160 *MacKinnon (1996) one-sided p-values.

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  20. Uji Akar Unit FDI Thailand (1 different)

  Null Hypothesis: D(FDI) has a unit root Exogenous: Constant Lag Length: 0 (Automatic based on SIC, MAXLAG=7) t-Statistic Prob.* Augmented Dickey-Fuller test statistic -5.992423 0.0000 Test critical values: 1% level -3.670170

  5% level -2.963972 10% level -2.621007 *MacKinnon (1996) one-sided p-values.

  21. Lag Lenght Indonesia

  VAR Lag Order Selection Criteria Endogenous variables: FDI GDP Exogenous variables: C Date: 06/11/14 Time: 12:14 Sample: 1981 2012 Included observations: 29

  Lag LogL LR FPE AIC SC HQ

• 127.1278 NA 25.27122 8.905366 8.999662 8.934898 1 -109.6282 31.37865* 9.975061 7.974357 8.257245* 8.062954* 2 -105.3268 7.119535 9.823480* 7.953571* 8.425053 8.101233 3 -104.4753 1.291877 12.35911 8.170712 8.830786 8.377439
• indicates lag order selected by the criterion

  22. Lag Lenght Malaysia

  VAR Lag Order Selection Criteria Endogenous variables: FDI GDP Exogenous variables: C Date: 06/11/14 Time: 12:13 Sample: 1981 2012 Included observations: 29

  Lag LogL LR FPE AIC SC HQ

• 137.1784 NA 50.54225 9.598509 9.692805 9.628041 1 -129.6755 13.45335* 39.75223* 9.356934* 9.639823* 9.445532* 2 -125.9118 6.229591 40.62706 9.373230 9.844712 9.520892 3 -122.1190 5.754723 41.72897 9.387514 10.04759 9.594241
• indicates lag order selected by the criterion

  23. Lag Lenght Filipina

  VAR Lag Order Selection Criteria Endogenous variables: FDI GDP Exogenous variables: C Date: 06/11/14 Time: 12:15 Sample: 1981 2012 Included observations: 29

  Lag LogL LR FPE AIC SC HQ

• 111.7254 NA 8.735814 7.843131 7.937427* 7.872663 1 -106.4044 9.541130* 7.986540* 7.752026* 8.034915 7.840623* 2 -103.7036 4.470316 8.783097 7.841625 8.313106 7.989287 3 -102.7924 1.382430 11.00479 8.054649 8.714723 8.261376
• indicates lag order selected by the criterion

  24. Lag Lenght Singapura

  VAR Lag Order Selection Criteria Endogenous variables: FDI GDP Exogenous variables: C Date: 06/11/14 Time: 12:13 Sample: 1981 2012 Included observations: 29

  Lag LogL LR FPE AIC SC HQ

• 175.0098 NA* 686.6809 12.20757 12.30187* 12.23710* 1 -170.3299 8.391487 656.1656 12.16068 12.44357 12.24928 2 -165.9335 7.276842 641.9729* 12.13334* 12.60482 12.28100 3 -163.0479 4.378038 701.9653 12.21020 12.87028 12.41693
• indicates lag order selected by the criterion

  25. Lag Lenght Thailand

  VAR Lag Order Selection Criteria Endogenous variables: FDI GDP Exogenous variables: C Date: 06/11/14 Time: 12:15 Sample: 1981 2012 Included observations: 29

  Lag LogL LR FPE AIC SC HQ

• 134.4252 NA 41.80161 9.408634 9.502931 9.438167 1 -122.3811 21.59625* 24.03721* 8.853871* 9.136760* 8.942469* 2 -121.0502 2.202971 29.05374 9.037943 9.509424 9.185605 3 -119.4036 2.498320 34.60253 9.200245 9.860319 9.406972
• indicates lag order selected by the criterion

  26. Kointegrasi Indonesia

  Date: 06/11/14 Time: 12:20 Sample (adjusted): 1983 2012 Included observations: 30 after adjustments Trend assumption: Linear deterministic trend Series: FDI GDP Lags interval (in first differences): 1 to 1 Unrestricted Cointegration Rank Test (Trace)

  Hypothesized Trace

  0.05 No. of CE(s) Eigenvalue Statistic Critical Value Prob.** None * 0.545302 31.76631 15.49471 0.0001

  At most 1 * 0.237197 8.122671 3.841466 0.0044 Trace test indicates 2 cointegrating eqn(s) at the 0.05 level

• denotes rejection of the hypothesis at the 0.05 level
• MacKinnon-Haug-Michelis (1999) p-values

  27. Uji Koitegrasi Malaysia

  Date: 06/11/14 Time: 12:17 Sample (adjusted): 1983 2012 Included observations: 30 after adjustments Trend assumption: Linear deterministic trend Series: FDI GDP Lags interval (in first differences): 1 to 1 Unrestricted Cointegration Rank Test (Trace)

  Hypothesized Trace

  0.05 No. of CE(s) Eigenvalue Statistic Critical Value Prob.** None * 0.510722 28.32663 15.49471 0.0004

  At most 1 * 0.204986 6.881876 3.841466 0.0087 Trace test indicates 2 cointegrating eqn(s) at the 0.05 level

• denotes rejection of the hypothesis at the 0.05 level
• MacKinnon-Haug-Michelis (1999) p-values

  28. Uji Kointegrasi Filipina

  Date: 06/11/14 Time: 12:23 Sample (adjusted): 1983 2012 Included observations: 30 after adjustments Trend assumption: Linear deterministic trend Series: FDI GDP Lags interval (in first differences): 1 to 1 Unrestricted Cointegration Rank Test (Trace)

  Hypothesized Trace

  0.05 No. of CE(s) Eigenvalue Statistic Critical Value Prob.** None * 0.363499 19.79562 15.49471 0.0105

  At most 1 * 0.187862 6.242533 3.841466 0.0125 Trace test indicates 2 cointegrating eqn(s) at the 0.05 level

• denotes rejection of the hypothesis at the 0.05 level
• MacKinnon-Haug-Michelis (1999) p-values

  29. Uji Kointegrasi Singapura

  Date: 06/11/14 Time: 12:19 Sample (adjusted): 1983 2012 Included observations: 30 after adjustments Trend assumption: Linear deterministic trend Series: FDI GDP Lags interval (in first differences): 1 to 1 Unrestricted Cointegration Rank Test (Trace)

  Hypothesized Trace

  0.05 No. of CE(s) Eigenvalue Statistic Critical Value Prob.** None * 0.551003 26.53581 15.49471 0.0007

  At most 1 0.080374 2.513647 3.841466 0.1129 Trace test indicates 1 cointegrating eqn(s) at the 0.05 level

• denotes rejection of the hypothesis at the 0.05 level
• MacKinnon-Haug-Michelis (1999) p-values

  30. Uji Kointegrasi Thailand

  Date: 06/11/14 Time: 12:16 Sample (adjusted): 1983 2012 Included observations: 30 after adjustments Trend assumption: Linear deterministic trend Series: GDP FDI Lags interval (in first differences): 1 to 1 Unrestricted Cointegration Rank Test (Trace)

  Hypothesized Trace

  0.05 No. of CE(s) Eigenvalue Statistic Critical Value Prob.** None 0.200208 11.85663 15.49471 0.1639

  At most 1 0.157867 5.154516 3.841466 0.0232 Trace test indicates no cointegration at the 0.05 level

• denotes rejection of the hypothesis at the 0.05 level
• MacKinnon-Haug-Michelis (1999) p-values

  31. Uji VAR Thailand

  Vector Autoregression Estimates Date: 06/11/14 Time: 12:17 Sample (adjusted): 1982 2012 Included observations: 31 after adjustments Standard errors in ( ) & t-statistics in [ ]

  GDP FDI GDP(-1) 0.447652 -0.047186

  (0.18773) (0.04888) [ 2.38458] [-0.96526]

  FDI(-1) -0.134127 0.639757 (0.55085) (0.14344) [-0.24349] [ 4.46008]

  C 3.360180 1.209978 (2.17154) (0.56546) [ 1.54737] [ 2.13979]

  R-squared 0.220907 0.528003 Adj. R-squared 0.165258 0.494289 Sum sq. Resids 491.9330 33.35644 S.E. equation 4.191543 1.091468 F-statistic 3.969616 15.66121 Log likelihood -86.83460 -45.12268 Akaike AIC 5.795781 3.104689 Schwarz SC 5.934554 3.243462 Mean dependent 5.471389 2.525029

  S.D. dependent 4.587729 1.534828 Determinant resid covariance (dof adj.) 17.89672 Determinant resid covariance 14.60045 Log likelihood -129.5305 Akaike information criterion 8.743903 Schwarz criterion 9.021449

32. Uji VECM Indonesia

  Vector Error Correction Estimates Date: 06/11/14 Time: 12:22 Sample (adjusted): 1984 2012 Included observations: 29 after adjustments Standard errors in ( ) & t-statistics in [ ]

  Cointegrating Eq: CointEq1 FDI(-1) 1.000000

  GDP(-1) -0.611778 (0.16075) [-3.80566]

  C -2.532696 Error Correction: D(FDI) D(GDP)

  CointEq1 -0.322680 0.387969 (0.14457) (0.74336) [-2.23207] [ 0.52191]

  D(FDI(-1)) -0.013665 -0.442623 (0.17744) (0.91238) [-0.07701] [-0.48513]

  D(FDI(-2)) -0.226294 -1.135331 (0.17700) (0.91012) [-1.27853] [-1.24745]

  D(GDP(-1)) -0.103213 -0.199575 (0.07176) (0.36899) [-1.43832] [-0.54087]

  D(GDP(-2)) 0.010833 -0.156246 (0.05098) (0.26212) [ 0.21251] [-0.59608]

  C 0.100128 0.051491

  (0.15785) (0.81166) [ 0.63433] [ 0.06344]

  R-squared 0.364152 0.255637 Adj. R-squared 0.225925 0.093819 Sum sq. Resids 16.33442 431.8932 S.E. equation 0.842729 4.333355 F-statistic 2.634436 1.579782 Log likelihood -32.82591 -80.31201 Akaike AIC 2.677649 5.952553 Schwarz SC 2.960538 6.235441 Mean dependent 0.065250 -0.076670 S.D. dependent 0.957847 4.552153 Determinant resid covariance (dof adj.) 8.862712 Determinant resid covariance 5.574762 Log likelihood -107.2131 Akaike information criterion 8.359521 Schwarz criterion 9.019595

33. Uji VECM Malaysia

  Vector Error Correction Estimates Date: 06/11/14 Time: 12:18 Sample (adjusted): 1983 2012 Included observations: 30 after adjustments Standard errors in ( ) & t-statistics in [ ]

  Cointegrating Eq: CointEq1 GDP(-1) 1.000000

  FDI(-1) -1.236988 (0.25711) [-4.81115]

  C -0.950166 Error Correction: D(GDP) D(FDI)

  CointEq1 -0.979911 0.123952 (0.33373) (0.13920) [-2.93624] [ 0.89047]

  D(GDP(-1)) 0.149969 -0.153429 (0.25655) (0.10701) [ 0.58456] [-1.43381]

  D(FDI(-1)) -0.549107 0.073120 (0.58748) (0.24504)

  [-0.93468] [ 0.29840] C 0.003795 -0.074224

  (0.80543) (0.33594) [ 0.00471] [-0.22094]

  R-squared 0.339667 0.091616 Adj. R-squared 0.263475 -0.013197 Sum sq. resids 505.7155 87.98030 S.E. equation 4.410283 1.839526 F-statistic 4.458024 0.874086 Log likelihood -84.93981 -58.70689 Akaike AIC 5.929321 4.180459 Schwarz SC 6.116147 4.367286 Mean dependent -0.010037 -0.064311 S.D. dependent 5.138929 1.827507 Determinant resid covariance (dof adj.) 31.93132 Determinant resid covariance 23.98397 Log likelihood -132.7971 Akaike information criterion 9.519806 Schwarz criterion 9.986872

34. Uji VECM Filipina

  Vector Error Correction Estimates Date: 06/11/14 Time: 12:23 Sample (adjusted): 1983 2012 Included observations: 30 after adjustments Standard errors in ( ) & t-statistics in [ ]

  Cointegrating Eq: CointEq1 FDI(-1) 1.000000

  GDP(-1) -0.408433 (0.09187) [-4.44577]

  C -0.023290 Error Correction: D(FDI) D(GDP)

  CointEq1 -0.082570 1.923438 (0.15208) (0.53991) [-0.54293] [ 3.56255]

  D(FDI(-1)) -0.533721 -0.388368 (0.17796) (0.63178) [-2.99906] [-0.61472] D(GDP(-1)) 0.012857 0.299863 (0.05363) (0.19040) [ 0.23973] [ 1.57491]

  C 0.041571 0.108598 (0.15957) (0.56649) [ 0.26051] [ 0.19170]

  R-squared 0.356177 0.355679 Adj. R-squared 0.281889 0.281334 Sum sq. Resids 19.85858 250.2793 S.E. equation 0.873952 3.102600 F-statistic 4.794582 4.784179 Log likelihood -36.37974 -74.38886 Akaike AIC 2.691983 5.225924 Schwarz SC 2.878809 5.412750 Mean dependent 0.035830 0.106507 S.D. dependent 1.031316 3.659841 Determinant resid covariance (dof adj.) 6.903652 Determinant resid covariance 5.185410 Log likelihood -109.8240 Akaike information criterion 7.988270 Schwarz criterion 8.455335

35. Uji VECM Singapura

  Vector Error Correction Estimates Date: 06/11/14 Time: 12:20 Sample (adjusted): 1984 2012 Included observations: 29 after adjustments Standard errors in ( ) & t-statistics in [ ]

  Cointegrating Eq: CointEq1 FDI(-1) 1.000000

  GDP(-1) 3.078033 (1.10322) [ 2.79003]

  C -33.82770 Error Correction: D(FDI) D(GDP)

  CointEq1 -0.300096 -0.267407 (0.13749) (0.10187) [-2.18272] [-2.62489] D(FDI(-1)) -0.267254 0.281824 (0.21605) (0.16008) [-1.23703] [ 1.76048]

  D(FDI(-2)) -0.349561 -0.122410 (0.21764) (0.16127) [-1.60611] [-0.75904]

  D(GDP(-1)) 0.710437 -0.028052 (0.34407) (0.25495) [ 2.06479] [-0.11003]

  D(GDP(-2)) 0.452336 -0.136519 (0.28621) (0.21207) [ 1.58045] [-0.64374]

  C 0.714743 -0.290206 (1.03003) (0.76322) [ 0.69390] [-0.38024]

  R-squared 0.415255 0.614345 Adj. R-squared 0.288136 0.530507 Sum sq. Resids 694.0938 381.0832 S.E. equation 5.493450 4.070483 F-statistic 3.266673 7.327748 Log likelihood -87.19123 -78.49718 Akaike AIC 6.426981 5.827392 Schwarz SC 6.709870 6.110281 Mean dependent 0.488439 -0.249955 S.D. dependent 6.510985 5.940612 Determinant resid covariance (dof adj.) 446.0051 Determinant resid covariance 280.5430 Log likelihood -164.0310 Akaike information criterion 12.27800 Schwarz criterion 12.93807

36. Granger Causality Indonesia

  Pairwise Granger Causality Tests Date: 06/13/14 Time: 03:52 Sample: 1981 2012 Lags: 2 Null Hypothesis: Obs F-Statistic Probability GDP does not Granger Cause FDI

  30 4.68939 0.01865 FDI does not Granger Cause GDP 0.61209 0.55014

  37. Granger Causality Malaysia Pairwise Granger Causality Tests Date: 06/13/14 Time: 03:53 Sample: 1981 2012 Lags: 1 Null Hypothesis: Obs F-Statistic Probability GDP does not Granger Cause FDI

  31 0.11736 0.73447 FDI does not Granger Cause GDP 0.52972 0.47277

  38. Granger Causality Filipina Pairwise Granger Causality Tests Date: 06/13/14 Time: 03:54 Sample: 1981 2012 Lags: 1 Null Hypothesis: Obs F-Statistic Probability GDP does not Granger Cause FDI

  31 1.47645 0.23448 FDI does not Granger Cause GDP 1.98296 0.17009

  39. Granger Causality Singapura Pairwise Granger Causality Tests Date: 06/13/14 Time: 03:54 Sample: 1981 2012 Lags: 2 Null Hypothesis: Obs F-Statistic Probability GDP does not Granger Cause FDI

  30 1.47146 0.24880 FDI does not Granger Cause GDP 2.84004 0.07736

  40. Granger Causality Thailand Pairwise Granger Causality Tests Date: 06/13/14 Time: 03:55 Sample: 1981 2012 Lags: 1 Null Hypothesis: Obs F-Statistic Probability GDP does not Granger Cause FDI

  31 0.93172 0.34268 FDI does not Granger Cause GDP 0.05929 0.80940