The Short-Term Impact of COVID-19 on Global Stock Market Indices

IF 2.4 Q2 ECONOMICS

Contemporary Economics Pub Date : 2021-02-01 DOI:10.5709/CE.1897-9254.432

Gurmeet Singh, Muneer Shaik

引用次数: 25

Abstract

The COVID-19 pandemic, declared on March 11, 2020 by the World Health Organisation (WHO), has had a severe economic and financial impact on every economy around the world. This paper aims to analyze the short-term impact of COVID-19 on global financial stock market indices. We study the impact of six different WHO announcements regarding COVID-19 on five different sectors (Pharma, Healthcare, Information Technology, Hotel & Airline) based on the indices of three different economies (World, Developed and Emerging economy). We also study the movement of stock prices and volume of nine different global stock market indices (classified as developed & emerging) based on the number of new cases and deaths due to COVID-19. The study’s findings suggest that there is a significant effect of COVID-19 on global financial stock markets. However, the effect is varied for developed and emerging economies.

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新冠肺炎疫情对全球股市指数的短期影响

世界卫生组织(世卫组织)于2020年3月11日宣布新冠肺炎大流行，对全球每个经济体都造成了严重的经济和金融影响。本文旨在分析COVID-19对全球金融股票市场指数的短期影响。我们根据三个不同经济体(世界、发达和新兴经济体)的指数，研究了世卫组织关于COVID-19的六种不同公告对五个不同行业(制药、医疗保健、信息技术、酒店和航空公司)的影响。我们还根据COVID-19的新病例和死亡人数，研究了9个不同的全球股票市场指数(分为发达和新兴市场)的股价走势和成交量。研究结果表明，新冠肺炎疫情对全球金融股票市场产生了显著影响。然而，对发达经济体和新兴经济体的影响各不相同。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Contemporary Economics ECONOMICS-

CiteScore

3.70

自引率

9.50%

发文量

审稿时长

24 weeks

期刊介绍： The mission of the Contemporary Economics is to publish advanced theoretical and empirical research in economics, finance, accounting and management with the noticeable contribution and impact to the development of those disciplines and preferably with practice relevancies. All entirety of methods is desirable, including a falsification of conventional understanding, theory building through inductive or qualitative research, first empirical testing of a theory, meta-analysis with theoretical implications, constructive replication that clarifies the boundaries or range of a theory for theoretical research as well as qualitative, quantitative, field, laboratory, meta-analytic, and combination for an empirical research. This clear priority for comprehensive manuscripts containing a methodology-based theoretical and empirical research with implications and recommendations for policymaking does not exclude manuscripts entirely focused on theory or methodology. Manuscripts that raise significant, actual topics of international relevance will be highly appreciated. The interdisciplinary approach including – besides economic, financial, accounting or managerial –also other aspects, is welcomed.