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INDONESIA: JKSE WITH CHINA: SSE
Pairwise Granger Causality Tests Date: 052213 Time: 17:10
Sample: 2002M01 2012M12 Lags: 2
Null Hypothesis: Obs
F-Statistic Prob.
SSE does not Granger Cause JKSE 130
0.32155 0.7256
JKSE does not Granger Cause SSE 0.65968
0.5188
2. PIIGS BETWEEN PIIGS COUNTRIES PORTUGAL: PSIG WITH ITALY: FTSEMIB
Pairwise Granger Causality Tests Date: 052213 Time: 17:11
Sample: 2002M01 2012M12 Lags: 2
Null Hypothesis: Obs
F-Statistic Prob.
FTSEMIB does not Granger Cause PSIG 130
2.06146 0.1316
PSIG does not Granger Cause FTSEMIB 0.83901
0.4346
PORTUGAL: PSIG WITH IRELAND: ISEQ
Pairwise Granger Causality Tests Date: 052213 Time: 17:11
Sample: 2002M01 2012M12 Lags: 2
Null Hypothesis: Obs
F-Statistic Prob.
ISEQ does not Granger Cause PSIG 130
2.43545 0.0917
PSIG does not Granger Cause ISEQ 1.96560
0.1444
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PORTUGAL: PSIG WITH GREECE: ATHEX
Pairwise Granger Causality Tests Date: 052213 Time: 17:12
Sample: 2002M01 2012M12 Lags: 2
Null Hypothesis: Obs
F-Statistic Prob.
ATHEX does not Granger Cause PSIG 130
0.44679 0.6407
PSIG does not Granger Cause ATHEX 3.03686
0.0515
PORTUGAL: PSIG WITH SPAIN: IBEX35
Pairwise Granger Causality Tests Date: 052213 Time: 17:12
Sample: 2002M01 2012M12 Lags: 2
Null Hypothesis: Obs
F-Statistic Prob.
IBEX35 does not Granger Cause PSIG 130
2.49039 0.0870
PSIG does not Granger Cause IBEX35 0.78577
0.4580
ITALY: FTSEMIB WITH IRELAND: ISEQ
Pairwise Granger Causality Tests Date: 052213 Time: 17:13
Sample: 2002M01 2012M12 Lags: 2
Null Hypothesis: Obs
F-Statistic Prob.
ISEQ does not Granger Cause FTSEMIB 130
3.46848 0.0342
FTSEMIB does not Granger Cause ISEQ 2.22679
0.1121
ITALY: FTSEMIB WITH GREECE: ATHEX
Pairwise Granger Causality Tests Date: 052213 Time: 17:13
Sample: 2002M01 2012M12 Lags: 2
Null Hypothesis: Obs
F-Statistic Prob.
ATHEX does not Granger Cause FTSEMIB 130
0.25649 0.7742
FTSEMIB does not Granger Cause ATHEX 2.35953
0.0987
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ITALY: FTSEMIB WITH SPAIN IBEX35
Pairwise Granger Causality Tests Date: 052213 Time: 17:13
Sample: 2002M01 2012M12 Lags: 2
Null Hypothesis: Obs
F-Statistic Prob.
IBEX35 does not Granger Cause FTSEMIB 130
1.96641 0.1443
FTSEMIB does not Granger Cause IBEX35 0.19674
0.8217
IRELAND: ISEQ WITH GREECE: ATHEX
Pairwise Granger Causality Tests Date: 052213 Time: 17:14
Sample: 2002M01 2012M12 Lags: 2
Null Hypothesis: Obs
F-Statistic Prob.
ATHEX does not Granger Cause ISEQ 130
1.67353 0.1918
ISEQ does not Granger Cause ATHEX 6.33919
0.0024
IRELAND: ISEQ WITH SPAIN: IBEX35
Pairwise Granger Causality Tests Date: 052213 Time: 17:14
Sample: 2002M01 2012M12 Lags: 2
Null Hypothesis: Obs
F-Statistic Prob.
IBEX35 does not Granger Cause ISEQ 130
2.61754 0.0770
ISEQ does not Granger Cause IBEX35 0.87327
0.4201
GREECE: ATHEX WITH SPAIN: IBEX35
Pairwise Granger Causality Tests Date: 052213 Time: 17:14
Sample: 2002M01 2012M12 Lags: 2
Null Hypothesis: Obs
F-Statistic Prob.
IBEX35 does not Granger Cause ATHEX 130
4.66808 0.0111
ATHEX does not Granger Cause IBEX35 1.65559
0.1951
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3. BRIIC BETWEEN PIIGS COUNTRIES BRAZIL: IBOVESPA WITH PORTUGAL: PSIG