\begin{tabular}{lc}\toprule\midrule 
 Variable & p-value  \\  \midrule 
Instrument & 0.3749  \\ 
Oil price & 0.4846  \\ 
World oil production & 0.7481  \\ 
World oil inventories & 0.6882  \\ 
World industrial production & 0.9502  \\ 
US industrial production & 0.9342  \\ 
US CPI & 0.7641  \\ 
Fed funds rate & 0.8849  \\ 
S\&P 500 & 0.1865  \\ 
NEER & 0.7282  \\ 
Geopolitical risk & 0.1526  \\ 
Joint & 0.7342  \\ 
\midrule\bottomrule 
\end{tabular} 
