Evaluation of Spatial Spillover Effect of Multidimensional Hybrid Financial Risk Contagion Based on the DAI Spatial Econometric Model

Table 6

Normal panel model and economic spatial weight matrix model of geographic and political regions.

	Common panel model (M1)
		SAR model (M2)	SEM model (M3)	SAR model (M4)	SEM model (M5)
		−0.2361	0.6642
				0.4723	0.7072
Cflow	0.06782	0.0725	0.0425	0.0703	−0.0632
Exchange	0.0485	0.826	0.0635	0.8156	0.2354
cpi	0.0102	1.421	0.1524	1.5342	0.5763
liqu	0.0076	0.0115	0.0075	0.0139	0.0013
Ffree	0.1568	0.3268	0.1136	0.29654	0.0641
Cycle	−0.0035	−1.1925	−0.7854	−12.2534	−0.6213
Credit	0.0968	0.1306	−0.0065	0.1354	0.0234
Tfree	−0.1435	−0.5314	−0.1318	−0.4635	−0.6341