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Table 8 Statistics to the different interdependences

From: Interdependence between the stock market and the bond market in one country: evidence from the subprime crisis and the European debt crisis

Countries Two Crises US Subprime Crisis European Debt Crisis Robustness Test
Short-term Bond Long-Term Bond Short-term Bond Long-Term Bond Short-term Bond Long-Term Bond Short-term Bond Long-Term Bond
Argentina         
Austria   FTQ   FTQ NS FTQ   
Australia         
Belgium FTQ   FTQa     FTQ  
Brazil   NS   NSa     NS
Canada   FTQ   FTQ   FTQ FTQa FTQ
Switzerland FTQa   FTQa   FTQa FTQ FTQ  
Chile         
China   FTQ   FTQ   FTQ   FTQa
Czech         
Germany        FTQa  
Denmark        FTQa  
Spain         
Finland         
France       FTQ   
Greece        FTQ NSa
Hungary NSa   NSa    NS NSa  
Indonesia         FTQa
Ireland        NS FTQa
Israel FTQ   FTQ   FTQ    
India        NS FTQa
Italy FTQ NS FTQa NS   NSa FTQa NSa
Japan   FTQa    NS FTQa NS  
Korea FTQ   FTQ    FTQ FTQ NS
Netherlands FTQa   FTQa   FTQa FTQ FTQa  
Norway FTQa   FTQ   FTQa NS FTQa  
New Zealand    NS     NS  
Poland   NS   NS     NSa
Portugal     FTQ     FTQa
Sweden        FTQa  
Thailand         FTQ
Taiwan   NSa   NSa   NSa FTQa NSa
UK         
US FTQa FTQ FTQa   FTQ FTQ FTQa  
Vietnam         
South Africa     NS    NS NS
  1. ‘FTQ’ stands for Flight to Quality while ‘NQ’ stands for Negative Spillover
  2. astands for significance in 10% confidential interval