Economic Policy Uncertainty and Conditional Dependence between China and U.S. Stock Markets

Table 3

ARCH test results for the SSEC index and S&P 500 index returns.

	Name	Value	Standard error	t statistic	value
SSEC	Constant	1.1105e − 06	3.2666e − 07	3.3997	0.0007
	ARCH (1, 1)	0.06033	0.0037	16.4860	4.6519e − 61
S&P 500	Constand	2.7209e − 06	4.0015e − 07	6.7997	1.0482e − 11
	ARCH (1, 1)	0.1399	0.0085	16.3910	2.2015e − 6