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Table 5 Variance Decomposition of Pakistan Stock Exchange

From: Dynamics of oil price shocks and stock market behavior in Pakistan: evidence from the 2007 financial crisis period

 

Pre-crises period

 

Post-crises period

Period

S.E.

PSE

OIL

Period

S.E.

PSE

OIL

1

0.014307

100.0000

0.000000

1

0.011630

100.0000

0.000000

2

0.020957

99.98818

0.011816

2

0.018005

99.87411

0.125889

3

0.026019

99.99054

0.009463

3

0.023456

99.61806

0.381944

4

0.030266

99.99300

0.007005

4

0.028054

99.46045

0.539546

5

0.034004

99.99296

0.007037

5

0.032065

99.35566

0.644335

6

0.037387

99.98968

0.010317

6

0.035647

99.28317

0.716826

7

0.040502

99.98291

0.017085

7

0.038906

99.22979

0.770209

8

0.043408

99.97260

0.027397

8

0.041914

99.18835

0.811654

9

0.046145

99.95877

0.041229

9

0.044719

99.15470

0.845298

10

0.048742

99.94148

0.058517

10

0.047359

99.12639

0.873609

  1. Abbreviations: S.E. represents standard error, PSE represents Pakistan Stock Exchange, OIL represents oil price