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In Search of Market Index Leaders: Evidence from Asian Markets

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Figure

Figure 1: Two relations which cannot be disentangled by a pairwise analysis.
Table 1 – Summary Statistics for the Indexes’ Return in Natural Logs –Entire Sample Source: Processed data
Table 4 – Summary Statistics for the Indexes’ Return in Natural Logs –Third Quartile Source: Processed data
Table 6 – Granger causality Wald tests, Entire Sample (*) signi…cant at the1% of the C.I.; (**) signi…cant at the 5% of the C.I.; (***) signi…cant at the10% of the C.I.
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