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Table 6 Causality results during the pre-crisis and post-crisis

From: Interrelationship dynamics between stock markets of nation under debt crisis and its major trading partners: evidence from Sri Lankan crisis

Pair

Pre-crisis period (1/1/2017–1/04/2022)

Crisis period (03/04/2022 to 20/07/2022)

 

Chi-Sq

Df (Lag as per VAR)

Prob

Chi-Sq

Df (Lag as per VAR)

Prob

Sri Lanka–China

(C–S)

9.4879

2

0.0087*

3.6821

2

0.1586

(S-C)

0.4086

2

0.8152

0.9919

2

0.6090

Sri Lanka–India

(I–S)

29.3225

8

0.0003*

6.4923

3

0.0900

(S–I)

24.5386

8

0.0019*

6.2641

3

0.0994

Sri Lanka–UAE

(U–S)

2.4051

2

0.3004

6.5627

3

0.0872

(S–U)

9.2411

2

0.0098*

2.7131

3

0.4380

Sri Lanka–Malaysia

(M–S)

4.9484

2

0.0842

0.8574

3

0.8357

(S–M)

0.4944

2

0.7810

3.0789

3

0.3796

Sri Lanka–Singapore

(Sin–S)

8.1387

8

0.4200

6.0737

3

0.1081

(S–Sin)

14.6985

8

0.0653

1.6681

3

0.6441

Sri Lanka–US

US–S

36.7063

8

0.0000*

0.8903

3

0.8277

S–US

20.2382

8

0.0095*

5.4344

3

0.1426

Sri Lanka–UK

UK–S

12.7344

8

0.1213

3.7107

3

0.2944

S–UK

14.0073

8

0.0816

4.283

3

0.2325

Sri Lanka–Germany

G–S

28.8642

7

0.0002*

4.3025

3

0.2306

S–G

20.9013

7

0.0039*

4.0319

3

0.2580

Sri Lanka–Italy

I–S

23.4453

7

0.0014*

7.2229

2

0.0270

S–I

34.0463

7

0.0000*

1.0052

2

0.6049

  1. ***, **, and * represent significant at 1%, 5%, and 10% significance levels respectively
  2. Source: Calculation by authors
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