Full-text resources of CEJSH and other databases are now available in the new Library of Science.
Visit https://bibliotekanauki.pl

Refine search results

Journals help

  1. 1 Ekonomický časopis (Journal of Economics)

Authors help

  1. 1 Sorić P.

Years help

  1. 1 2021

Results found: 1

first rewind previous Page / 1 next fast forward last

Search results

Search:
in the keywords:  STRINGENCY INDEX
help Sort By:

help Limit search:
first rewind previous Page / 1 next fast forward last
1

COVID-19 AND THE STOCK MARKETS: A GLANCE AT THE INITIAL EFFECTS OF THE PANDEMIC

100%
Sorić P.
Ekonomický časopis (Journal of Economics)
|
2021
|
vol. 69
|
issue 5
472 – 493
EN
The COVID-19 pandemic and consequent economic lockdown have triggered unprecedented economic uncertainty. The financial markets responded instantly, pricing in the uncertainty boom. This paper assesses the impact of anti-COVID social distancing measures on stock markets across the globe. Analysing 60 world economies in a panel vector auto-regression framework, we find that the stringency of social distancing interventions has a negative effect on market returns, but its character is strictly transitory and it fades away within 7 days. The magnitude of the pandemic in terms of recorded disease cases and deaths reveal a very similar pattern, causing a significant, but short-lived decline of stock prices. Our estimates reveal a considerable asymmetry in the identified interrelationships. Less developed markets seem to respond to the economic lockdown more intensively than highly developed economies.
first rewind previous Page / 1 next fast forward last
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.