Table IV Summarizing volatility...

Table IV

Summarizing volatility spillovers

	Hungary	Poland	Czech	Romania	Croatia
Hungary	+(H_a)	+(H_a)	+(H_a)	+(H_a)	+(H_a)
Poland	+(H_a)	+(H_a)	+(H_a)	+(H_a)	−(H₀)
Czech	+(H_a)	+(H_a)	+(H_a)	−(H₀)	+(H_a)
Romania	+(H_a)	+(H_a)	+(H_a)	+(H_a)	+(H_a)
Croatia	−(H₀)	−(H₀)	+(H_a)	+(H_a)	+(H_a)

Notes: −, (H₀): non-existence of volatility spillovers from market i to market j; +, (H_a): existence of volatility spillovers from market i to market j

[ViewLarge]