"Variance Decomposition—Equity Returns" "Figure 4.12" ,Regional,Global,Domestic Pre-GFC,11.0,15.6,73.4 GFC,17.3,25.2,57.5 Post-GFC,10.6,18.0,71.3 Normalization,6.6,21.3,72.1 Pre-COVID-19,7.8,10.6,81.6 COVID-19 onset,7.0,19.7,73.3 COVID-19,9.3,28.1,62.6 "Source: ADB calculations using data from Bloomberg; CEIC; and methodology by Lee and Park (2011)." Asian Economic Integration Report | Data Catalogue Asia Regional Integration Center. Economic Research and Development Impact Department (ERDI). ASIAN DEVELOPMENT BANK