Coronavirus (2019-nCoV) not only has an effect on human health but also on economic variables in countries around the world. Coronavirus has an effect on the price of black gold and on its volatility. The shock on all markets is already very strong. Volatility patterns in Brent crude oil simulation are examined during COVID-19 crisis that significantly affected the oil market volatility. The selected crisis of coronavirus arose due to different triggers having diverse implications for oil returns volatility. Our findings indicate that model choice with data modeling is the same appropriate model EGARCH(0,2) with different parameters between pre-coronavirus and post-coronavirus. We find that oil prices are the most strongly and negatively influenced by the Coronavirus crisis. The downward movement post-covid-19 crisis is very noticeable in energy volatility. The return series, on the other hand, do not appear smooth, they rather appear volatile. We conduct a Monte Carlo simulation exercise during coronavirus crisis to investigate whether this decline is real or an artefact of the oil market. Our findings support the fact that the decline in oil prices volatility is an artefact of the covid-19 crisis.

The central aim of this paper is to empirically assess the effects of financial liberalization on economic growth in the presence of banking crises. Our empirical investigation is based on a dynamic panel model for a sample of 10 South Mediterranean countries during the period 1980-2005. Results suggest that equity market liberalization positively affects economic growth in these countries, especially in the period of fragility and banking crises. Capital account liberalization, however, has no significant effects. As expected, banking crises exert negative effects on economic growth. When we control for the presence of macroeconomic stability and appropriate openness sequencing, the anticipated effects of capital account liberalization become significant. We conclude that macroeconomic reforms and trade opening are both crucial prerequisites for the success of the capital account liberalization process.

While different streams of literature exist investigating the relationship and the conditional correlation between oil import prices, oil returns volatility and stock market returns volatility. The period of the study runs from July 1997 until July 2017 with a monthly data. The objectives of the present paper are the following to investigate the order of the mean equation, the order (p,q) of the conditional variance and the order (r,s) of the Diag-BEKK model. Data from the Indian and Indonesian stock market returns series respectively shows the existence of appropriate ARMA(2,2)-EGARCH(2,2) and ARMA(2,2)-IGARCH(2,2) models. The appropriates models of Diag-BEKK(p,q) for China, India and Indonesia are Diag-BEKK(1,2), Diag-BEKK(0,2) and Diag-BEKK(0,2) respectively. In the three Asian Countries, the three variables are correlated. Also, equations show a statistically significant covariation in oil import price, which depends more on its lags than on past errors. Consequently, oil demand are influenced by past information which is common to the crude oil market and the stock market and to its volatilities. They suggest that the comovements of the three series display an extremely volatile trend for the study period.

This paper reinterprets the mixed evidence of the relationship and the long-run relationships between the general government budget (GGB) and some macroeconomics variables (current account deficit, fixed investment (FI), gross savings (GS), government consumption (GC) and gross domestic product (GDP) and GDP per capita) in Tunisia using the VAR model. The period of the study runs from 1975 until 2018 with a yearly data. We obtain evidence of fluctuations in current account deficit (CAD) as a response to GGB shocks. But during the end of the period, the shocks of the CAD have a negative effect on the GGB and the two deficits are found to be positively linked. Our results suggest that impulse responses of budget deficit did a weak impact on gross saving of Tunisia, but the one savings strategy has a positive effect on this deficit. On the basis of results published in the empirical literature, the general government deficit increase the fixed investment, but the response of the GGB to FI shocks is weak and almost stable. In addition, fiscal deficit shocks have a positive effect on consumption. Any increase in the GGB to an increase in consumption. GDP per capital's impulse responses to GGB shocks is characterized by such stable and positive effects. The Granger causality test indicates that causation run from GGB shocks to most macroeconomics variables with the exception of the CAD, implying that variation in general government deficit is explained by increasing public spending and also by these five other variables.