The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)
From: Dynamic correlation pattern amongst alternative energy market for diversification opportunities
Post-crisis period | Non-linear Granger causality with decomposition | Non-linear Granger causality without decomposition | |||
---|---|---|---|---|---|
D1 | D2 | D3 | D4 | ||
World–developed | 6.631 (0.0000) | 7.632 (0.0000) | 10.958 (0.0000) | 11.830 (0.0000) | 3.750 (0.0000) |
Developed–emerging | 6.625 (0.0000) | 6.811 (0.0000) | 10.330 (0.0000) | 10.769 (0.0000) | 4.420 (0.0000) |
World–emerging | 1.513 (0.0652) | 3.350 (0.0004) | 3.917 (0.0000) | 5.714 (0.0000) | 2.583 (0.0049) |
Emerging–world | 2.770 (0.0028) | 4.137 (0.0002) | 4.773 (0.0000) | 6.072 (0.0000) | 1.200 (0.1152) |
World–EU | 1.513 (0.0652) | 3.932 (0.0000) | 7.612 (0.0000) | 10.317 (0.0000) | 2.543 (0.0055) |
EU–world | 2.770 (0.0028) | 3.611 (0.0002) | 7.628 (0.0000) | 10.643 (0.0000) | 3.010 (0.0013) |
World–BRIC | 1.878 (0.0302) | 3.449 (0.0003) | 4.024 (0.0000) | 6.712 (0.0000) | 3.159 (0.0008) |
BRIC–world | 3.679 (0.0001) | 4.514 (0.0000) | 4.886 (0.0000) | 5.865 (0.0000) | 2.126 (0.0168) |
World–G7 | 2.527 (0.0058) | 3.404 (0.0003) | 6.607 (0.0000) | 8.614 (0.0000) | 1.316 (0.0940) |
G7–world | 2.766 (0.0028) | 2.031 (0.0211) | 6.589 (0.0000) | 8.755 (0.0000) | 0.852 (0.1972) |
Developed–emerging | 2.444 (0.0073) | 3.581 (0.0002) | 3.066 (0.0011) | 4.530 (0.0000) | 2.078 (0.0189) |
Emerging–developed | 2.152 (0.0157) | 4.046 (0.0003) | 3.744 (0.0001) | 5.007 (0.0000) | 1.537 (0.0622) |
Developed–EU | 4.644 (0.0000) | 4.532 (0.0000) | 8.196 (0.0000) | 4.530 (0.0000) | 2.140 (0.0162) |
EU–developed | 4.345 (0.0000) | 4.166 (0.0000) | 8.190 (0.0000) | 5.007 (0.0000) | 1.851 (0.0321) |
Developed–BRIC | 2.610 (0.0045) | 3.687 (0.0001) | 3.451 (0.0003) | 6.143 (0.0000) | 2.594 (0.0048) |
BRIC–developed | 3.487 (0.0002) | 3.944 (0.0000) | 4.095 (0.0002) | 5.260 (0.0000) | 2.130 (0.0166) |
Developed–G7 | 2.706 (0.0034) | 3.529 (0.0002) | 7.019 (0.0000) | 8.754 (0.0000) | 2.366 (0.0090) |
G7–developed | 1.856 (0.0317) | 2.342 (0.0096) | 6.965 (0.0000) | 9.320 (0.0000) | 0.059 (0.4764) |
Emerging–EU | 3.323 (0.0005) | 2.701 (0.0035) | 3.340 (0.0004) | 4.351 (0.0000) | 1.726 (0.0422) |
EU–emerging | 2.229 (0.0129) | 2.578 (0.0050) | 2.494 (0.0063) | 4.095 (0.0000) | 1.433 (0.0759) |
Emerging–BRIC | 7.079 (0.0000) | 6.174 (0.0000) | 8.508 (0.0000) | 10.167 (0.0000) | 4.263 (0.0000) |
BRIC–emerging | 5.640 (0.0000) | 5.769 (0.0000) | 5.394 (0.0000) | 7.315 (0.0000) | 3.536 (0.0002) |
Emerging–G7 | 3.520 (0.0002) | 2.395 (0.0083) | 8.508 (0.0000) | 4.715 (0.0000) | 1.422 (0.0775) |
G7–emerging | 1.678 (0.0467) | 2.702 (0.0034) | 5.394 (0.0000) | 3.840 (0.0000) | 2.397 (0.0083) |
EU–BRIC | 2.518 (0.0059) | 2.748 (0.0030) | 2.593 (0.0048) | 5.455 (0.0000) | 2.454 (0.0071) |
BRIC–EU | 4.217 (0.0000) | 3.781 (0.0000) | 2.986 (0.0014) | 5.252 (0.0000) | 1.176 (0.1199) |
EU–G7 | 4.336 (0.0000) | 3.434 (0.0003) | 5.371 (0.0000) | 6.960 (0.0000) | 2.403 (0.0081) |
G7–EU | 4.119 (0.0000) | 3.009 (0.0013) | 4.956 (0.0000) | 7.348 (0.0000) | 1.421 (0.0776) |
BRIC–G7 | 3.260 (0.0006) | 2.567 (0.0051) | 3.828 (0.0001) | 4.144 (0.0000) | 2.673 (0.0038) |
G7–BRIC | 2.668 (0.0038) | 2.562 (0.0052) | 3.419 (0.0003) | 4.707 (0.0000) | 3.251 (0.0006) |