We examine the connection between global economic policy uncertainty (GEPU) and the dynamic spillovers of the Asia-Pacific manufacturing market within a nonparametric framework. We find strong connectedness between markets, and our results strongly support a nonlinear causal relationship between GEPU and manufacturing markets, mostly at median quantiles. Nonlinearity in our data signifies that the nonparametric test is more robust relative to the standard causality test.
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Fasanya et al. (2021) studied this question.
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