Table 1.

BRIC CARs on the announcement of the H1N1 pandemic.

Window	(1)	(2)	(3)	(4)
CAR	Brazil	Russia	India	China
$(-1,+1)$	−2.2722***	−2.4759	−4.1594***	−1.8543*
	(−3.2708)	(−1.2842)	(−4.1357)	(−1.8147)
$(-2,+2)$	−2.2855**	−7.0806***	−1.1906	−2.2369
	(−2.3095)	(−2.8495)	(−0.7010)	(−1.4781)
$(-4,+4)$	−4.5254***	−15.6177***	−10.3018***	1.0991
	(−3.0460)	(−3.9920)	(−3.8756)	(0.4352)
$(-5,+5)$	−5.9557***	−20.3139***	−9.5483***	1.3666
	(−3.3982)	(−4.1068)	(−2.7942)	(0.4312)
$(-10,+10)$	−8.9499***	−23.5887***	−10.8027	3.5705
	(−2.7532)	(−2.8728)	(−1.5566)	(0.6185)

Note: This table reports the results of the CARs for Eq. (1) around the time of announcement of the H1N1 pandemic. Wald test, $Z-statistic$ in parentheses. */**/*** significant at 10%/5%/1%, respectively.