How the coronavirus crisis is affecting the Korean economy: Evidence from the stock market

Willem Thorbecke
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引用次数: 3

Abstract

South Korea has proven resilient through crises. During the COVID-19 pandemic, Korea has used testing and contact tracing to keep the number of cases per capita far below those in the U.S. and Europe. This paper uses sectoral stock returns to gauge the impact of the pandemic on the Korean economy. The results indicate that industrial machinery stocks have doubled in value in the eight months since the crisis hit. Other sectors that benefit individuals hunkered at home such as consumer digital services, software and computer services, leisure goods, and electronic entertainment have also done well. On the other hand, sectors providing services such as travel and leisure, casinos and gambling, and convenience stores have languished. The crisis has benefited sectors producing goods and employing higher-skilled workers and harmed sectors providing services and employing lower-skilled workers. This risks perpetuating disparities that existed in Korea before the pandemic.

新冠疫情对韩国经济的影响:来自股市的证据
事实证明,韩国在危机中具有韧性。在新冠疫情期间,韩国通过检测和接触者追踪等措施,将人均确诊人数控制在美国和欧洲的水平之下。本文使用行业股票回报率来衡量疫情对韩国经济的影响。结果显示,自金融危机爆发以来的8个月里,工业机械类股的价值翻了一番。消费者数字服务、软件和计算机服务、休闲产品和电子娱乐等其他有利于个人宅在家里的行业也表现良好。另一方面,提供旅游和休闲、赌场和赌博以及便利店等服务的行业却萎靡不振。危机使生产商品和雇用高技能工人的部门受益,损害了提供服务和雇用低技能工人的部门。这可能会使韩国在疫情前存在的差距永久化。
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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