The Effect of the COVID-19 Pandemic on Stock Market Returns in Emerging Economies: Empirical Evidence from Panel Data

• 발행기관: 한국유통과학회
• 저자명: Franck Edouard GNAHE Junaid ASHRAF Fei-Ming HUANG
• 간행물 정보: 『The Journal of Asian Finance, Economics and Business(JAFEB)』The Journal of Asian Finance, Economics, and Business Vol. 9 No.4, 191~196쪽, 전체 6쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2022.04.30

영문 초록

From several socioeconomic perspectives, the present health crisis can be connected to the 2008 financial and economic catastrophe. Governments worldwide are working hard to keep the markets in check, as evidence suggests that the health crisis may soon become an economic crisis. This paper aims to analyze the effect of COVID-19 on the selected stock market. Using a panel of daily COVID-19 confirmed cases and deaths and the stock market from 22 developing countries, we exploit an oil price as a shock to the stock market and examine the effect of COVID-19 on the slowdown of the stock market. We find a negative and significant impact of COVID-19 on the stock market in the first stage till April. However, there is no net influence on the stock market downturn when we extend the period. However, further study suggests that the outbreak’s negative influence on the selected stock market has diminished and has begun to decline as of mid-April. As a result of the COVID-19 effect on the chosen stock, our findings imply that the government in the chosen market should consider a regulatory mechanism to reduce the stock market slowdown induced by the pandemic COVID-19.

목차

1. Introduction

2. Research Methodology

3. Results and Discussion

4. Conclusion

References

키워드

COVID-19 Stock Market Panel Data