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The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

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Table 5 Non-linear Granger causality with decompositions—crisis period

From: Dynamic correlation pattern amongst alternative energy market for diversification opportunities

Crisis periodNon-linear Granger causality with decompositionNon-linear Granger causality without decomposition
D1D2D3D4
World–developed1.896 (0.0290)2.308 (0.0105)4.711 (0.0000)3.928 (0.0004)0.686 (0.2464)
Developed–world1.238 (0.1078)1.719 (0.0428)3.874 (0.0006)3.875 (0.0006)0.838 (0.2011)
World–emerging1.502 (0.0666)1.910 (0.0281)1.083 (0.1395)2.973 (0.0015)− 0.856 (0.8039)
Emerging–world0.541 (0.2942)− 0.190 (0.5752)0.997 (0.1595)2.704 (0.0034)0.967 (0.1668)
World–EU2.819 (0.0024)2.387 (0.0085)3.984 (0.0000)3.413 (0.0003)1.227 (0.1099)
EU–world2.935 (0.0017)2.343 (0.0096)3.858 (0.0001)3.969 (0.0000)1.776 (0.0378)
World–BRIC0.832 (0.2027)0.045 (0.4819)1.178 (0.1195)1.673 (0.0472)1.110 (0.1336)
BRIC–world0.687 (0.7539)0.489 (0.3123)1.860 (0.0314)2.304 (0.0106)0.694 (0.2438)
World–G72.593 (0.0048)2.449 (0.0072)3.906 (0.0001)4.277 (0.0000)1.493 (0.0678)
G7–world2.619 (0.0044)2.068 (0.0193)4.504 (0.0000)4.003 (0.0000)1.154 (0.1242)
Developed–emerging1.954 (0.0254)1.736 (0.0413)0.593 (0.2765)2.877 (0.0020)− 1.120 (0.8687)
Emerging–developed1.351 (0.0883)0.443 (0.3290)0.375 (0.3537)2.738 (0.0027)0.611 (0.2706)
Developed–EU2.688 (0.0036)2.413 (0.0079)4.631 (0.0000)3.682 (0.0001)1.306 (0.0957)
EU–developed3.151 (0.0008)2.078 (0.0188)4.326 (0.0000)4.144 (0.0002)1.280 (0.1003)
Developed–BRIC0.755 (0.2253)0.221 (0.4124)0.421 (0.3367)1.618 (0.0528)1.326 (0.0924)
BRIC–developed− 0.462 (0.6780)0.613 (0.2700)1.302 (0.0964)2.639 (0.0042)− 0.512 (0.6957)
Developed–G72.239 (0.0126)1.986 (0.0235)3.729 (0.0010)3.940 (0.0000)1.253 (0.1051)
G7–developed2.360 (0.0092)2.181 (0.0146)4.588 (0.0000)3.870 (0.0001)0.819 (0.2064)
Emerging–EU0.876 (0.1905)0.127 (0.4493)0.699 (0.2424)2.376 (0.0088)− 0.120 (0.5476)
EU–emerging2.074 (0.0190)0.256 (0.3988)0.143 (0.4433)2.636 (0.0042)− 0.097 (0.5386)
Emerging–BRIC1.081 (0.1398)0.565 (0.2860)2.733 (0.0031)3.297 (0.0005)0.396 (0.346)
BRIC–emerging1.519 (0.0644)0.785 (0.2161)2.489 (0.0064)3.186 (0.0007)− 0.285 (0.6121)
Emerging–G71.752 (0.0399)1.529 (0.0631)0.729 (0.2330)2.607 (0.0046)0.967 (0.1669)
G7–emerging1.322 (0.0931)1.878 (0.0302)0.725 (0.2344)2.600 (0.0047)− 0.651 (0.7426)
EU–BRIC1.777 (0.0378)− 0.037 (0.5146)0.255 (0.3992)1.913 (0.0279)0.749 (0.2268)
BRIC–EU0.582 (0.2805)0.028 (0.4887)1.246 (0.1064)2.611 (0.0045)− 0.726 (0.7661)
EU–G72.560 (0.0052)2.533 (0.0057)3.133 (0.0009)4.174 (0.0000)0.780 (0.2176)
G7–EU2.122 (0.0169)2.431 (0.0075)3.711 (0.0001)3.632 (0.0001)1.013 (0.1555)
BRIC–G70.945 (0.1724)1.359 (0.0871)1.272 (0.1017)2.668 (0.0038)0.846 (0.1988)
G7–BRIC1.868 (0.0309)1.178 (0.1193)0.473 (0.3181)0.991 (0.1607)0.409 (0.3413)