The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)
From: Dynamic correlation pattern amongst alternative energy market for diversification opportunities
Pre-crisis period | Non-linear Granger causality with decomposition | Non-linear Granger causality without decomposition | |||
---|---|---|---|---|---|
D1 | D2 | D3 | D4 | ||
World–developed | 1.534 (0.0625) | 1.390 (0.0823) | 6.465 (0.0000) | 6.219 (0.0000) | 1.045 (0.1481) |
Developed–world | 1.133 (0.1286) | 1.261 (0.1037) | 6.187 (0.0000) | 7.166 (0.0000) | -0.188 (0.5746) |
World–emerging | 1.013 (0.1557) | 0.968 (0.1666) | 2.389 (0.0084) | 5.021 (0.0000) | 1.785 (0.0371) |
Emerging–world | 1.354 (0.0879) | 0.531 (0.2978) | 1.923 (0.0272) | 4.529 (0.0000) | 1.545 (0.0615) |
World–EU | 1.984 (0.0236) | 1.568 (0.0584) | 5.786 (0.0000) | 6.611 (0.0000) | 1.378 (0.0841) |
EU–world | 2.500 (0.0062) | 1.949 (0.0256) | 5.611 (0.0000) | 6.736 (0.0000) | 0.863 (0.1941) |
World–BRIC | 0.140 (0.4445) | 0.481 (0.6847) | 1.795 (0.0363) | 3.997 (0.0000) | 1.189 (0.1173) |
BRIC–world | 1.225 (0.1103) | 1.002 (0.1581) | 1.509 (0.0657) | 4.075 (0.0000) | 0.611 (0.2706) |
World–G7 | 2.005 (0.0225) | 1.618 (0.0529) | 5.558 (0.0000) | 6.339 (0.0000) | 1.424 (0.0773) |
G7–world | 2.089 (0.0184) | 0.482 (0.3149) | 5.005 (0.0000) | 6.491 (0.0000) | 1.597 (0.0552) |
Developed–emerging | 0.834 (0.2021) | 1.535 (0.0623) | 1.690 (0.0455) | 3.675 (0.0001) | 0.677 (0.2493) |
Emerging–developed | 0.370 (0.6442) | 1.373 (0.0850) | 0.433 (0.3324) | 3.492 (0.0002) | 0.851 (0.1974) |
Developed–EU | 2.509 (0.0061) | 1.371 (0.0852) | 6.063 (0.0000) | 6.296 (0.0000) | 0.747 (0.2276) |
EU–developed | 3.768 (0.0001) | 2.253 (0.0121) | 7.326 (0.0000) | 6.365 (0.0000) | − 0.361 (0.6410) |
Developed–BRIC | 0.595 (0.2783) | 1.001 (0.1584) | 0.879 (0.1896) | 2.813 (0.0025) | 0.329 (0.3711) |
BRIC–developed | 0.282 (0.3889) | 1.190 (0.1170) | 0.125 (0.4503) | 3.270 (0.0005) | 1.589 (0.0560) |
Developed–G7 | 2.658 (0.0093) | 1.357 (0.0874) | 5.431 (0.0000) | 6.099 (0.0000) | 1.201 (0.1148) |
G7–developed | 2.459 (0.0070) | 2.085 (0.0186) | 5.978 (0.0000) | 6.377 (0.0000) | 0.624 (0.2661) |
Emerging–EU | 0.705 (0.2404) | 1.155 (0.1240) | 1.316 (0.0941) | 3.386 (0.0004) | 0.457 (0.0324) |
EU–emerging | 1.029 (0.1516) | 1.363 (0.0865) | 1.527 (0.0634) | 3.945 (0.0004) | 1.301 (0.0967) |
Emerging–BRIC | 2.248 (0.0123) | − 0.277 (0.6092) | 7.103 (0.0000) | 8.172 (0.0000) | 0.041 (0.4836) |
BRIC–emerging | 2.548 (0.0054) | 0.629 (0.2648) | 6.628 (0.0000) | 8.368 (0.0000) | 0.216 (0.4146) |
Emerging–G7 | 0.489 (0.3125) | 1.317 (0.0940) | 1.424 (0.0772) | 2.291 (0.0110) | 1.616 (0.0530) |
G7–emerging | 1.170 (0.1211) | 1.283 (0.0997) | 1.798 (0.0361) | 3.825 (0.0001) | 1.010 (0.1563) |
EU–BRIC | 0.783 (0.2168) | − 0.263 (0.6037) | 0.671 (0.2512) | 3.205 (0.0007) | 1.077 (0.1408) |
BRIC–EU | 1.251 (0.1054) | 0.996 (0.1595) | 1.156 (0.1239) | 3.413 (0.0003) | 0.906 (0.1826) |
EU–G7 | 2.510 (0.0064) | 0.930 (0.1763) | 5.964 (0.0000) | 6.267 (0.0000) | 0.538 (0.2954) |
G7–EU | 2.674 (0.0038) | 0.564 (0.2863) | 5.740 (0.0000) | 6.340 (0.0000) | 0.627 (0.2653) |
BRIC–G7 | 1.298 (0.0971) | 1.711 (0.0436) | 0.760 (0.2237) | 2.503 (0.0062) | 1.514 (0.0650) |
G7–BRIC | 1.428 (0.0766) | 1.096 (0.1366) | 1.564 (0.0590) | 2.805 (0.0025) | 1.084 (0.1392) |