The Spillover Effect among CET Market, Coal Market, and New Energy Market for Dual-Carbon Target: New Evidence from China

Table 2

Total spillover indices and net-pairwise indices among variety markets.

From
To	COAL	CET	CSINE	ASEI	From-others	FROM
Panel A: total spillover index within various markets
COAL	98.68	0.02	0.01	1.29	1.32	0.33
CET	5.32	94.25	0.39	0.04	5.75	1.44
CSINE	0.58	1.72	96.01	1.69	3.99	1.00
ASEI	5.42	1.41	37.74	55.42	44.57	11.14
To-others	11.32	3.15	38.14	3.02
TO	2.83	0.79	9.54	0.75		13.91
Panel B: net-pairwise spillover index within various markets
COAL	0	−1.33	−0.14	−1.03
CET	1.33	0	−0.33	−0.34
CSINE	0.145	0.33	0	−9.01
ASEI	1.03	0.34	9.01	0
Net	2.5	−0.65	8.54	−10.34
Conclusion	Net-transmitter	Neutral	Net-transmitter	Net-recipient