COVID-19 lockdowns, stimulus packages, travel bans, and stock returns

This paper examines the effect of government responses of G7 countries to the coronavirus pandemic (COVID-19) on stock market returns. Using time-series data, we show that lockdowns, travel bans, and economic stimulus packages all had a positive effect on the G7 stock markets. However, lockdowns wer...

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Detalles Bibliográficos
Autores principales: Narayan, Paresh Kumar, Phan, Dinh Hoang Bach, Liu, Guangqiang
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier Inc. 2021
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7440077/
https://www.ncbi.nlm.nih.gov/pubmed/32843886
http://dx.doi.org/10.1016/j.frl.2020.101732
Descripción
Sumario:This paper examines the effect of government responses of G7 countries to the coronavirus pandemic (COVID-19) on stock market returns. Using time-series data, we show that lockdowns, travel bans, and economic stimulus packages all had a positive effect on the G7 stock markets. However, lockdowns were most effective in cushioning the effects of COVID-19. Our results are robust to different measures of returns and controls for other factors of returns.

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