Research Article
Economic Policy Uncertainty Shocks and Chinese Stock Market Volatility: An Empirical Analysis with SVAR
Table 1
Descriptive statistics of sample data.
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Note. LQ (i) is the ljung and box statistics of the return series of the ith order. ADF and PP are the statistics of the augmented Dickey–Fuller and Phillips–Perron unit root tests, respectively, based on the lowest AIC value. J-B is the Jarque–Bera statistic, which confirms the nonnormality of all of the sample returns. (, , ) denote the significance level of 1%, 5%, and 10%, respectively. |