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Table 3 Toda-Yamamoto causality tests d

From: Price relations between international rice markets

Export prices → Thailand → Vietnam → Pakistan → U.S. → Argentina
Thailand → x 28.277*** 9.522 11.105* 2.322
(<0.001) (0.146) (0.085) (0.888)
Vietnam → 18.652*** x 18.630*** 12.127* 15.591**
(0.005) (0.005) (0.059) (0.016)
Pakistan → 13.818** 17.082*** x 9.047 9.784
(0.032) (0.009) (0.171) (0.134)
U.S. → 1.470 0.626 2.184 x 3.555
(0.962) (0.996) (0.902) (0.737)
Argentina → 3.932 0.920 5.027 15.572** x
  (0.686) (0.989) (0.540) (0.016)  
  1. d According to the Schwarz Information Criterion, the optimal number of lags is two, however six lags are required in order to ensure the error terms are not serially correlated therefore a VAR(6 + 1) model is specified. There are 154 observations. *, **, ***, signify a ten, five, and one percent level of significance for the Toda-Yamamoto causality tests.