Table 8 Short- and long-run causality tests

Δco₂

–

2.197

[0.18]

6.536***

[0.01]

0.0078

[0.86]

0.385

[0.63]

0.0026

[0.94]

− 0.038**

[0.03]

Δy

5.783**

[0.04]

–

1.516

[0.19]

0.176

[0.57]

0.139

[0.62]

0.674***

[0.00]

0.086

[0.24]

Δre

0.086

[0.76]

3.454**

[0.05]

–

0.178

[0.61]

0.094

[0.69]

0.017

[0.96]

− 0.079**

[0.03]

Δtrs

1.208

[0.22]

8.226***

[0.00]

2.106

[0.18]

–

2.549

[0.16]

0.075

[0.73]

− 0.215***

[0.00]

Δtr

1.925

[0.18]

5.327**

[0.04]

4.547**

[0.05]

4.773**

[0.05]

–

1.229***

[0.00]

− 0.0852***

[0.00]

Δfdi

8.763***

[0.00]

10.438***

[0.00]

0.785

[0.19]

9.439***

[0.00]

6.409***

[0.00]

–

− 0.128***

[0.00]