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
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author Narayan, Paresh Kumar
Phan, Dinh Hoang Bach
Liu, Guangqiang
author_facet Narayan, Paresh Kumar
Phan, Dinh Hoang Bach
Liu, Guangqiang
author_sort Narayan, Paresh Kumar
collection PubMed
description 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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spelling pubmed-74400772020-08-21 COVID-19 lockdowns, stimulus packages, travel bans, and stock returns Narayan, Paresh Kumar Phan, Dinh Hoang Bach Liu, Guangqiang Financ Res Lett Article 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. Elsevier Inc. 2021-01 2020-08-20 /pmc/articles/PMC7440077/ /pubmed/32843886 http://dx.doi.org/10.1016/j.frl.2020.101732 Text en © 2020 Elsevier Inc. All rights reserved. Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active.
spellingShingle Article
Narayan, Paresh Kumar
Phan, Dinh Hoang Bach
Liu, Guangqiang
COVID-19 lockdowns, stimulus packages, travel bans, and stock returns
title COVID-19 lockdowns, stimulus packages, travel bans, and stock returns
title_full COVID-19 lockdowns, stimulus packages, travel bans, and stock returns
title_fullStr COVID-19 lockdowns, stimulus packages, travel bans, and stock returns
title_full_unstemmed COVID-19 lockdowns, stimulus packages, travel bans, and stock returns
title_short COVID-19 lockdowns, stimulus packages, travel bans, and stock returns
title_sort covid-19 lockdowns, stimulus packages, travel bans, and stock returns
topic Article
url 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
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