How stock markets reacted to COVID-19? Evidence from 25 countries

The objective of this paper is to analyse how COVID-19 related government policies influenced stock markets. Of the 25 countries we consider, stock returns did not react to any of the three policies – the stimulus package, lockdown, and travel ban in 20% of countries. For around 48% of countries, th...

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Autores principales: Bannigidadmath, Deepa, Narayan, Paresh Kumar, Phan, Dinh Hoang Bach, Gong, Qiang
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier Inc. 2022
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8856896/
https://www.ncbi.nlm.nih.gov/pubmed/35221817
http://dx.doi.org/10.1016/j.frl.2021.102161
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author Bannigidadmath, Deepa
Narayan, Paresh Kumar
Phan, Dinh Hoang Bach
Gong, Qiang
author_facet Bannigidadmath, Deepa
Narayan, Paresh Kumar
Phan, Dinh Hoang Bach
Gong, Qiang
author_sort Bannigidadmath, Deepa
collection PubMed
description The objective of this paper is to analyse how COVID-19 related government policies influenced stock markets. Of the 25 countries we consider, stock returns did not react to any of the three policies – the stimulus package, lockdown, and travel ban in 20% of countries. For around 48% of countries, the effect on returns was negative, due largely to the stimulus package and lockdown policies. Of the 13 countries that experienced a change in the cash rate, returns were negative for 46% of the markets. The travel ban had the least effect on stock returns.
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spelling pubmed-88568962022-02-22 How stock markets reacted to COVID-19? Evidence from 25 countries Bannigidadmath, Deepa Narayan, Paresh Kumar Phan, Dinh Hoang Bach Gong, Qiang Financ Res Lett Article The objective of this paper is to analyse how COVID-19 related government policies influenced stock markets. Of the 25 countries we consider, stock returns did not react to any of the three policies – the stimulus package, lockdown, and travel ban in 20% of countries. For around 48% of countries, the effect on returns was negative, due largely to the stimulus package and lockdown policies. Of the 13 countries that experienced a change in the cash rate, returns were negative for 46% of the markets. The travel ban had the least effect on stock returns. Elsevier Inc. 2022-03 2021-05-24 /pmc/articles/PMC8856896/ /pubmed/35221817 http://dx.doi.org/10.1016/j.frl.2021.102161 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
Bannigidadmath, Deepa
Narayan, Paresh Kumar
Phan, Dinh Hoang Bach
Gong, Qiang
How stock markets reacted to COVID-19? Evidence from 25 countries
title How stock markets reacted to COVID-19? Evidence from 25 countries
title_full How stock markets reacted to COVID-19? Evidence from 25 countries
title_fullStr How stock markets reacted to COVID-19? Evidence from 25 countries
title_full_unstemmed How stock markets reacted to COVID-19? Evidence from 25 countries
title_short How stock markets reacted to COVID-19? Evidence from 25 countries
title_sort how stock markets reacted to covid-19? evidence from 25 countries
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8856896/
https://www.ncbi.nlm.nih.gov/pubmed/35221817
http://dx.doi.org/10.1016/j.frl.2021.102161
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