The stiffness of the arrow is primarily driven by the outer diameter. The stiffness of a solid section increases 8 times if the diameter is doubled, so just a small difference in diameter makes a large difference in stiffness.
Thicker walls for a hollow arrow doesn't make as large difference to stiffness, but it does add a lot of mass.
For example:
Arrow 1, solid Tonkin arrow shaft, 28" long and .25" outer diameter:
Mass = 412gr , spine = 38.8#
Arrow 2, 28" long, .25" outer diameter and .125" hollow inner diameter:
Mass = 309gr, spine = 36.4#
Arrow 3, 28" long .25" outer diameter and .177" hollow inner diameter:
Mass = 205gr, spine = 29.1#
Arrow 4, 28" long, .267" outer diameter and .186" hollow inner diameter:
Mass = 242gr, spine = 38.6#
Alan