	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)	(13)	(14)	(15)	(16)	(17)	(18)	(19)	(20)	(21)	(22)	(23)	(24)	(25)	(26)	(27)
VARIABLES	AUD	BRL	CAD	CHF	CLP	CNY	COP	EUR	GBP	HUF	IDR	ILS	INR	JPY	KRW	MXN	MYR	NOK	NZD	PHP	PLN	RUB	SEK	THB	TRY	USD	ZAR
																											
d_log_globalrisk	-0.219	-0.496***	-0.0869**	0.115*	-0.143*	0.185	-0.309***	0.0431*	-0.114**	-0.184**	-0.0159	0.0655	-0.0379	0.381*	-0.162	-0.392***	0.0423	-0.141*	-0.213**	0.140*	-0.239**	-0.271**	-0.0593	0.0679	-0.251***	0.204*	-0.417***
	(0.152)	(0.110)	(0.0357)	(0.0586)	(0.0829)	(0.128)	(0.0609)	(0.0249)	(0.0552)	(0.0855)	(0.0520)	(0.0513)	(0.0576)	(0.203)	(0.0991)	(0.0694)	(0.0860)	(0.0771)	(0.0880)	(0.0719)	(0.100)	(0.108)	(0.0749)	(0.0926)	(0.0574)	(0.120)	(0.0774)
Constant	0.00199	-0.0123*	-0.000320	0.00418*	-0.00596	0.000299	-0.00364	0.000340	-0.00423	-0.00360	-0.00846**	0.00424	-0.00885**	-0.00422	-0.00125	-0.0112**	-0.00101	-0.00374	0.00386	-0.00398	-0.000899	-0.0152*	-0.00142	0.000716	-0.0245***	-0.00508	-0.00720
	(0.00322)	(0.00643)	(0.00301)	(0.00244)	(0.00383)	(0.00338)	(0.00457)	(0.00202)	(0.00313)	(0.00351)	(0.00376)	(0.00305)	(0.00365)	(0.00425)	(0.00345)	(0.00438)	(0.00343)	(0.00280)	(0.00380)	(0.00377)	(0.00407)	(0.00903)	(0.00255)	(0.00310)	(0.00658)	(0.00376)	(0.00543)
																											
Observations	73	53	73	73	58	69	65	73	73	73	69	65	73	73	73	71	60	73	73	73	73	56	73	73	60	73	73
R-squared	0.134	0.293	0.035	0.075	0.075	0.104	0.182	0.020	0.052	0.098	0.001	0.023	0.005	0.207	0.078	0.269	0.008	0.087	0.112	0.054	0.123	0.056	0.020	0.018	0.076	0.097	0.197
Robust standard errors in parentheses																											
*** p<0.01, ** p<0.05, * p<0.1																											
