Impact of the COVID-19 on MSCI world equity market index
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Tarih
2022
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Inderscience Publishers
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
This article aims to analyse and measure the impact of the COVID-19 daily fatality cases, along with the BRENT prices and the financial volatility index (VIX) on the global economy, proxied by MSCI global market index (MXWO) both in the long run and the short-run, and discuss policy responses using the ARDL methodology. The study contributes to the literature as it is one of the first studies aimed at measuring the impact and direction of COVID-19 daily fatality cases on the global markets investigated through financial contagion. The ARDL model estimates indicated a significant and negative effect of the coronavirus crisis on MXWO. BRENT prices seem to have no direct effect on the global economy proxied by MXMO index, both in the long and the short term. But, it is likely to have an indirect effect through financial volatility as BRENT prices reacted sharply to the rise in financial volatility. Copyright © 2023 Inderscience Enterprises Ltd.
Açıklama
Anahtar Kelimeler
ARDL, autoregressive distributed lag, BRENT, COVID-19, financial contagion, MSCI world index, volatility index
Kaynak
World Review of Science, Technology and Sustainable Development
WoS Q Değeri
Scopus Q Değeri
Q2
Cilt
19
Sayı
1-2
