Dynamic Contagion of Systemic Risks on Global Main Equity Markets Based on Granger Causality Networks

Table 3

Comparisons of multiple differences among three different periods by ANOVA.

(I) group	(J) group	Mean Difference (I-J)	Std. Error	Sig.
during crisis	before crisis	2.61225	0.57500	0.000
	after crisis	1.80713	0.45323	0.000
before crisis	during crisis	-2.61225	0.57500	0.000
	after crisis	-0.80513	0.53076	0.131
after crisis	during crisis	-1.80713	0.45323	0.000
	before crisis	0.80513	0.53076	0.131

The mean difference is significant at the 0.05 level.