How stock markets reacted to COVID-19? Evidence from 25 countries

被引：33

作者：

Bannigidadmath, Deepa ^{[1
]}

Narayan, Paresh Kumar ^{[2
]}

Dinh Hoang Bach Phan ^{[3
]}

Gong, Qiang ^{[4
]}

机构：

[1] Edith Cowan Univ, Perth, WA, Australia

[2] Monash Univ, Melbourne, Vic, Australia

[3] La Trobe Univ, Melbourne, Vic, Australia

[4] Zhongnan Univ Econ & Law, Wenlan Sch Business, Wuhan, Peoples R China

来源：

FINANCE RESEARCH LETTERS | 2022年 / 45卷

关键词：

COVID-19; Government policies; Returns; IMPACT; EVENT;

D O I：

10.1016/j.frl.2021.102161

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

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.

引用

页数：12

共 34 条

[1] Financial contagion during COVID-19 crisis [J].