"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 Regional Cooperation Department (ERCD).
ASIAN DEVELOPMENT BANK