Abstract
The purpose of the study is threefold. First, is to examine the long-term interdependence between China and the ten emerging economies, including Pakistan, Malaysia, Philippine, Indonesia, India, Hungary, Mexico, Russia, South Africa and Brazil using Johansen co-integration. Second, is to measure the time-varying interdependence between China and the other emerging economies using DDC GARCH model. Third, is to examine the impact of macroeconomic determinants on stock markets conditional correlations using panel regression. Monthly data from 2010 to 2016 is used. Results indicate that there is long-term interdependence between China and the other ten emerging economies. Furthermore, the results of DDC GARCH model support that China has a higher positive significant correlation with Pakistan, India, China, Indonesia, Malaysia, Philippine, Hungary, Mexico, Russia and South Africa. Finally, the results of the panel regression show that macroeconomic determinants have no significant effect on the equity market correlations between China and its companion emerging economies. It this, therefore, we can conclude that there is long run interdependence between the Chinese and the other emerging economies. Furthermore, this interdependence is also dynamic over the time. However, there is no significant impact of the macroeconomic determinants on the stock market interdependence between Chinese and the ten emerging economies.
Highlights
Anxiety disorder is the most prevalent mental disorder
VRET AND ACCESSIBILITY The common question asked regarding VRET is that why VRET is considered if the option in vivo exposure therapy is available
The results presented by research state that "significant difference in spatial perception was found between 3Daudio and stereo or Dolby sound, the median score indicated a trend in favor of 3D audio" [12]
Summary
Anxiety disorder is the most prevalent mental disorder. But the stigma attached to mental disorders in addition to the unavailability of proper and affordable treatment leads to it being left untreated. As VRET becomes convenient, it will be easier to develop standalone VRET experiences but it requires consideration of design and hardware. Developing such virtual environments requires understanding of human side of VR and the understanding of the specific phobias and disorders the environment is being designed. This will make VRET applications efficacious, affordable and accessible which will lead to patients seeking help leading to less delay in initial contact for treatment and delay in treatment of the disorder
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