Panel B: Net/Gross Spillovers to all Markets and Net/Gross Spillovers to BRICS

Total Spillover

Contribution including own

22

101.70

80.39

147.39

92.53

113.19

64.03

163.79

67.62

118.82

52.18

86.18

108.39

92.28

83.11

100.05

134.94

100.39

77.33

67.87

112.49

135.43

61.20

Contribution to others excluding own

23

45.31

8.43

119.90

44.58

87.26

27.48

139.65

28.44

85.50

15.51

3.95

81.58

45.49

25.97

51.93

111.45

73.67

46.43

43.91

91.63

107.09

NET Spillovers

24

1.71

−19.62

47.38

−7.45

13.20

−35.99

63.80

−32.38

18.81

−47.82

−13.82

8.40

−7.74

−16.90

0.05

34.96

0.38

−22.69

−32.16

12.46

35.42

GROSS Spillovers

25

88.90

36.47

192.41

96.60

161.33

90.94

215.49

89.26

152.20

78.83

21.73

154.76

98.72

68.84

103.81

187.94

146.95

115.55

119.98

170.81

178.76

Contribution to BRICS excluding own

26

14.00

1.51

37.25

14.52

27.12

8.54

43.72

10.04

28.77

3.87

0.81

25.87

13.22

7.86

14.55

26.44

17.82

10.99

11.35

24.58

31.34

NET (BRICS)

27

1.86

−4.92

14.75

−3.08

7.12

−12.75

19.22

−9.52

8.93

−13.37

−3.78

3.81

−3.76

−5.59

−2.58

12.04

−2.46

−7.53

−9.25

7.20

10.73

GROSS (BRICS)

28

26.14

7.93

59.76

32.12

47.12

29.83

68.22

29.60

48.62

21.11

5.40

47.93

30.20

21.31

31.68

40.84

38.09

29.51

31.95

41.97

51.94