Country Name

γ₀

γ₁

γ₂

Adjusted R²

American Markets

Brazil

0.0127*

0.1972*

1.8596*

33.36

(118.554)

(17.896)

(9.883)

Canada

0.0122*

0.0482*

3.187*

34.67

(111.595)

(20.561)

(6.016)

Chile

0.0012*

0.1885*

0.3558**

18.68

(98.287)

(16.82)

(2.052)

Mexico

0.0092*

0.03742*

2.532*

41.83

(93.081)

(25.103)

(7.125)

United States

0.0108*

0.3977*

0.2325

30.62

(62.214)

(20.891)

(0.672)

European Markets

Belgium

0.0076*

0.3392*

2.4031*

39.77

(67.863)

(21.47)

(7.177)

France

0.0088*

0.2004*

1.2604*

24.15

(75.811)

(14.632)

(4.871)

Germany

0.0085*

0.2377*

1.1005*

26.31

(72.325)

(17.678)

(4.495)

Greece

0.0143*

24.97*

1.6019*

97.14

(125.79)

(35.430)

(191.960)

Netherland

0.0092*

0.2925*

2.4083*

32.81

(57.000)

(14.220)

(5.680)

Portugal

0.0087*

0.4302*

−1.3357*

3.58

(87.749)

(32.261)

(−4.776)

Russia

0.0132*

0.2711*

1.1827*

98.37

(116.6)

(40.6)

(215.6)

Sweden

0.0091*

0.2374*

0.6006**

21.80

(70.41)

(15.4)

(2.03)

Switzerland

0.0069*

0.276*

1.6681*

35.91

(62.892)

(19.618)

(6.181)

United Kingdom

0.0095*

0.2383*

2.9244*

30.74

(86.524)

(14.712)

(7.843)

Asia Pacific Markets

Australia

0.01659*

0.5458*

1.317*

41.12

(182.063)

(31.122)

(2.754)

China

0.0118*

0.3409*

−1.9478*

22.31

(81.69)

(21.47)

(−6.999)

Hong Kong

0.0099*

0.2749*

0.7264*

33.39

(89.861)

(22.63)

(3.421)