Immunizing markets against the pandemic: COVID-19 vaccinations and stock volatility around the world

The COVID-19 pandemic has exerted a noteworthy impact on stock market volatility around the world. Can vaccination programs revert these adverse effects? To answer this question, we scrutinize daily data from 66 countries from January 1, 2020 to April 30, 2021. We provide convincing evidence that CO...

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Detalles Bibliográficos
Autores principales: Rouatbi, Wael, Demir, Ender, Kizys, Renatas, Zaremba, Adam
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier Inc. 2021
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8225290/
https://www.ncbi.nlm.nih.gov/pubmed/36530209
http://dx.doi.org/10.1016/j.irfa.2021.101819
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author Rouatbi, Wael
Demir, Ender
Kizys, Renatas
Zaremba, Adam
author_facet Rouatbi, Wael
Demir, Ender
Kizys, Renatas
Zaremba, Adam
author_sort Rouatbi, Wael
collection PubMed
description The COVID-19 pandemic has exerted a noteworthy impact on stock market volatility around the world. Can vaccination programs revert these adverse effects? To answer this question, we scrutinize daily data from 66 countries from January 1, 2020 to April 30, 2021. We provide convincing evidence that COVID-19 vaccination assists in stabilizing the global equity markets. The drop in volatility is robust to many considerations and does not result solely from either the pandemic itself or the government policy responses—the negative correlation remains significant after controlling for these factors. The impact of vaccinations is relatively stronger within developed markets than in emerging ones.
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spelling pubmed-82252902021-06-25 Immunizing markets against the pandemic: COVID-19 vaccinations and stock volatility around the world Rouatbi, Wael Demir, Ender Kizys, Renatas Zaremba, Adam Int Rev Financ Anal Article The COVID-19 pandemic has exerted a noteworthy impact on stock market volatility around the world. Can vaccination programs revert these adverse effects? To answer this question, we scrutinize daily data from 66 countries from January 1, 2020 to April 30, 2021. We provide convincing evidence that COVID-19 vaccination assists in stabilizing the global equity markets. The drop in volatility is robust to many considerations and does not result solely from either the pandemic itself or the government policy responses—the negative correlation remains significant after controlling for these factors. The impact of vaccinations is relatively stronger within developed markets than in emerging ones. Elsevier Inc. 2021-10 2021-06-24 /pmc/articles/PMC8225290/ /pubmed/36530209 http://dx.doi.org/10.1016/j.irfa.2021.101819 Text en © 2021 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
Rouatbi, Wael
Demir, Ender
Kizys, Renatas
Zaremba, Adam
Immunizing markets against the pandemic: COVID-19 vaccinations and stock volatility around the world
title Immunizing markets against the pandemic: COVID-19 vaccinations and stock volatility around the world
title_full Immunizing markets against the pandemic: COVID-19 vaccinations and stock volatility around the world
title_fullStr Immunizing markets against the pandemic: COVID-19 vaccinations and stock volatility around the world
title_full_unstemmed Immunizing markets against the pandemic: COVID-19 vaccinations and stock volatility around the world
title_short Immunizing markets against the pandemic: COVID-19 vaccinations and stock volatility around the world
title_sort immunizing markets against the pandemic: covid-19 vaccinations and stock volatility around the world
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8225290/
https://www.ncbi.nlm.nih.gov/pubmed/36530209
http://dx.doi.org/10.1016/j.irfa.2021.101819
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