Correlation and Dynamic Volatility Spillover between Green Investing Market, Coal Market, and CO<sub>2</sub> Emissions: Evidence from Shenzhen Carbon Market in China

<table class="table-group" id="tab8"><tr><td><table class="table"><tr><td class="thead-hr" colspan="3"><hr/></td></tr><tr class="thead"><td class="align_left">Null hypothesis</td><td class="align_center">F-statistic</td><td class="align_center">Prob.</td></tr><tr><td class="thead-hr" colspan="3"><hr/></td></tr><tr><td class="align_left">RCOAL does not Granger cause RCARBON</td><td class="align_center">1.16183</td><td class="align_center">0.003132</td></tr><tr><td class="align_left">RCARBON does not Granger cause RCOAL</td><td class="align_center">1.04853</td><td class="align_center">0.3507</td></tr><tr><td class="align_left">RGIS does not Granger cause RCARBON</td><td class="align_center">0.80593</td><td class="align_center">0.4469</td></tr><tr><td class="align_left">RCARBON does not Granger cause RGIS</td><td class="align_center">4.35699</td><td class="align_center">0.013</td></tr><tr><td class="align_left">RGIS does not Granger cause RCOAL</td><td class="align_center">0.3574</td><td class="align_center">0.003574</td></tr><tr><td class="align_left">RCOAL does not Granger cause RGIS</td><td class="align_center">0.6229</td><td class="align_center">0.006229</td></tr><tr class="table-tr"><td colspan="3"><hr class="tbody-hr"/></td></tr></table></td></tr></table>

<div>Granger causality test of each variable.</div>

Advances in Civil Engineering

tab8

Table 8

Table 8: Correlation and Dynamic Volatility Spillover between Green Investing Market, Coal Market, and CO<sub>2</sub> Emissions: Evidence from Shenzhen Carbon Market in China 

Table 8 | Correlation and Dynamic Volatility Spillover between Green Investing Market, Coal Market, and CO2 Emissions: Evidence from Shenzhen Carbon Market in China 