Covid-19 Coronavi̇rüsün Hi̇sse Senedi̇ Pi̇yasalarina Etki̇si̇: Seçi̇lmi̇ş Ülkelerden Kanitlar

Zeren, Feyyaz; Hızarcı, Atike Elanur

doi:10.32951/mufider.706159

Cited by 172 publications

(130 citation statements)

References 24 publications

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“…The authors show significant structural breaks due to the COVID-19 outbreak. Already Zeren and Hizarci (2020) analysed the effects of the Covid-19 epidemic on stock markets in the period 23 January 2020 and 13 March 2020. The authors show levels of causality between the number of deaths from the global outbreak and the financial markets.…”

Section: Literature Reviewmentioning

confidence: 99%

Integration in Bric Stock Markets: An Empirical Analysis

Heliodoro¹,

Dias²,

Alexandre³

et al. 2020

International Scientific Conference EMAN – Economics &Amp; Management: How to Cope With Disrupted Times

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This paper aims to analyse financial integration in the markets of Brazil, China, India and Russia (BRIC’s), from July 2015 to June 2020, being the sample split in pre and during the global pandemic (Covid-19). In order to carry out this analysis, different approaches were undertaken to analyse two issues, namely, whether: (i) the global pandemic has accentuated the interdependencies in the BRIC financial markets? If so, how it has influenced the efficiency of portfolio diversification. The results suggest very significant levels of integration, in the Covid period these evidences diminish the chances of portfolio diversification in the long term. In turn, the analysis of the relationship between markets, in the short term, through the impulse response functions, in a period of global pandemic, shows positive/negative movements, with statistical significance, with persistence exceeding one week. In addition, there was no immediate adjustment in prices between markets, due to the high levels of shocks identified. Regarding the implementation of efficient portfolio diversification strategies, we consider that a good option for investors would be to avoid investments in stock markets. In this sense, one suggestion could be to invest in derivatives, gold and sovereign debt markets, with the purpose of diversifying portfolios and mitigating the risk arising from the global pandemic. The authors consider that the results achieved are of interest to investors seeking opportunities in these exchanges, as well as to policy makers to undertake institutional reforms in order to increase the efficiency of stock markets and promote the sustainable growth of financial markets.

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Section: Literature Reviewmentioning

confidence: 99%

Integration in Bric Stock Markets: An Empirical Analysis

Heliodoro¹,

Dias²,

Alexandre³

et al. 2020

International Scientific Conference EMAN – Economics &Amp; Management: How to Cope With Disrupted Times

View full text Add to dashboard Cite

show abstract

“…Our world has gone through many epidemics over time with major examples being the 14th century Plague (Black Death), the 16th century Bleeding Fever, the Cholera epidemic at the end of 19th century followed by the Spanish flu (1918) pandemic and AIDS in the late 20th century. Severe acute respiratory syndrome (SARS), Swine flu, Ebola and Dengue fever have been some recent diseases affecting only a few countries (Zeren & Hizarci, 2020). Now, the ongoing global Covid-19 pandemic has spread to almost all countries in the world with such suddenness and intensity that it is simply not yet possible to estimate the resulting social and economic losses (Zhang et al, 2020).…”

Section: Literature Reviewmentioning

confidence: 99%

The footprints of COVID-19 on Central Eastern European stock markets: an intraday analysis

Aslam

Nogueiro

Brasil

et al. 2020

Post-Communist Economies

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This study analyses the intraday multifractal behaviour of three Central Eastern European stock markets by deploying five-minute index data ranging from December 2019 to May 2020. With the analysis of multifractality, we can evaluate the degree of efficiency of the stock markets analysed. We divided the whole sample into three different periods of about two months each. Data for the Czech Republic, Hungary and Poland are used and their behaviour is compared with Germany (as a benchmark of the European Union) and Italy and Spain (as the most affected countries by Covid-19 in Europe). For the analysis, we employ multifractal detrended fluctuation analysis after using seasonal-trend decompositions using the loess method. The results confirm that the degree of multifractality varies in the different periods, with increasing multifractality in February-March and a recovery in April-May.

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“…The coronavirus (COVID-19) pandemic began in the city of Wuhan in the Hubei Province of China at the end of December 2019. While the fatality rate of this virus is considerably lower than that of the severe acute respiratory syndrome (SARS) outbreak in [2002][2003] or that of the Spanish Flu pandemic of 1919, COVID-19 is highly contagious and has triggered a great deal of worldwide economic and financial uncertainty (Zeren and Hizarci, 2020;Khan et al, 2020). The spread of the virus and globally enforced lockdowns have negatively impacted the overall demand and created significant short-term food price volatility (Albulescu, 2020).…”

Section: Introductionmentioning

confidence: 99%

The Impact of COVID-19 on Gold Price Volatility

Yousef¹,

Shehadeh²

2020

IJEBA

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Purpose: This article investigates the implications of the spread of COVID-19 on gold spot prices. Design/Methodology/Approach: We use GARCH and GJR-GARCH models based on daily gold returns over the period 2012-2020 to analyze the impact of the coronavirus on the volatility of gold returns. Findings: We find a positive correlation between the increasing number of global coronavirus cases and increases in gold price. Using GARCH and GJR-GARCH models, we find a significant positive impact of COVID-19 on the conditional variance equation, indicating that the coronavirus may indeed increase the volatility of gold returns. This relates to the fact that the spread of the virus increases uncertainty with regard to the future of economic and financial markets, causing the demand for gold to increase and in turn pushing prices upwards, a trend which may be likely to continue until a vaccine or other treatments begin to stabilize the global economic outlook. Practical Implications: The issue of volatility is of significant concern to both investors and policymakers who base decisions on the relative stability of both individual financial markets and the world economy. Furthermore, volatility estimation is an essential factor in many models and has broad application to the market risk management practices of firms. Finally, understanding the volatility of the gold market is crucial for any analysis of current and future expectations regarding the risks associated with coronavirus which apply to global markets. Originality/Value: The lockdown restrictions which have been widely implemented across the globe to curb the spread of the virus have included travel prohibitions and border closures, stay-at-home and work-from-home orders, and extensive business closures, all causing immense fallout for the global economy. In the current study, we analyze for the first time the impact of the coronavirus on gold spot prices by examining their correlation with the number of cumulative global cases and daily new cases.

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Covid-19 Coronavi̇rüsün Hi̇sse Senedi̇ Pi̇yasalarina Etki̇si̇: Seçi̇lmi̇ş Ülkelerden Kanitlar

Cited by 172 publications

References 24 publications

Integration in Bric Stock Markets: An Empirical Analysis

Integration in Bric Stock Markets: An Empirical Analysis

The footprints of COVID-19 on Central Eastern European stock markets: an intraday analysis

The Impact of COVID-19 on Gold Price Volatility

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