How stock markets reacted to COVID-19? Evidence from 25 countries
Document Type
Journal Article
Publication Title
Finance Research Letters
Volume
45
Publisher
Elsevier
School
School of Business and Law
RAS ID
35853
Abstract
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.
DOI
10.1016/j.frl.2021.102161
Access Rights
free_to_read
Comments
Bannigidadmath, D., Narayan, P. K., Phan, D. H. B., & Gong, Q. (2022). How stock markets reacted to COVID-19? Evidence from 25 countries. Finance Research Letters, 45, 102161.
https://doi.org/10.1016/j.frl.2021.102161