COVID-19 对塞浦路斯股市动态的影响

International Journal of Economics and Financial Issues Pub Date : 2024-07-03 DOI:10.32479/ijefi.15875

Christos Christodoulou-Volos, Dikaios Tserkezos

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引用次数: 0

摘要

本文研究了 2019 年冠状病毒病（COVID-19）大流行爆发对塞浦路斯证券交易所（CSE）的影响，该交易所已遭遇大幅动荡。为此，本文使用了 2019 年 9 月 3 日至 2020 年 7 月 10 日期间塞浦路斯经济的每日股市收益率。研究采用格兰杰因果关系模型来探讨塞浦路斯证券交易所是否受到新型冠状病毒引发的危机的影响。萧灼基的格兰杰因果关系方法被用于研究 COVID-19 与股市回报之间的因果关系，以及大流行措施与几种商品之间的因果关系。分析揭示了错综复杂的动态和促成因素，为观察到的波动性提供了启示。研究结果表明，在整个大流行病期间，市场行情发生了明显的变化，出现了大幅波动。尽管如此，股票市场在关闭初期仍表现出弹性和恢复力。这些见解有助于理解大流行病对中国证券市场的影响，为投资者、政策制定者和市场参与者提供了重要指导。

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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The Impact of COVID-19 on the Cypriot Stock Market Dynamics

This paper examines the effects of coronavirus disease 2019 (COVID-19) pandemic outbreak on the Cypriot Stock Exchange (CSE), which has encountered substantial turmoil. For this purpose, daily stock market returns were used over the period of September 3, 2019 - July 10, 2020, for the Cypriot economy. The study applied Granger causality models to explore whether the CSE is impacted by the crisis generated by novel coronavirus. Hsiao’s approach to Granger causality was employed to investigate the causalities among COVID-19 and stock market returns, as well as between pandemic measures and several commodities. The analyses uncover intricate dynamics and contributing factors, shedding light on the observed volatility. The findings demonstrate significant volatility throughout the pandemic, with notable shifts in market conditions. Nevertheless, the stock market showcased resilience and recovery during the initial shutdown period. These insights contribute to understanding the pandemic’s impact on the CSE, offering crucial guidance for investors, policymakers, and market participants.

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International Journal of Economics and Financial Issues

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期刊介绍： International Journal of Economics and Financial Issues (IJEFI) is the international academic journal, and is a double-blind, peer-reviewed academic journal publishing high quality conceptual and measure development articles in the areas of economics, finance and related disciplines. The journal has a worldwide audience. The journal''s goal is to stimulate the development of economics, finance and related disciplines theory worldwide by publishing interesting articles in a highly readable format. The journal is published Bimonthly (6 issues per year) and covers a wide variety of topics including (but not limited to): Macroeconomcis International Economics Econometrics Business Economics Growth and Development Regional Economics Tourism Economics International Trade Finance International Finance Macroeconomic Aspects of Finance General Financial Markets Financial Institutions Behavioral Finance Public Finance Asset Pricing Financial Management Options and Futures Taxation, Subsidies and Revenue Corporate Finance and Governance Money and Banking Markets and Institutions of Emerging Markets Public Economics and Public Policy Financial Economics Applied Financial Econometrics Financial Risk Analysis Risk Management Portfolio Management Financial Econometrics.