The effects of daily growth in COVID-19 deaths, cases, and governments’ response policies on stock markets of emerging economies

Murat Guven; Basak Cetinguc; Bulent Guloglu; Fethi Calisir

doi:10.1016/j.ribaf.2022.101659

The effects of daily growth in COVID-19 deaths, cases, and governments’ response policies on stock markets of emerging economies

Murat Guven
, Basak Cetinguc
, Bulent Guloglu
, Fethi Calisir^*

^*Corresponding author for this work

Sakarya University
Yalova University

Research output: Contribution to journal › Article › peer-review

33 Citations (Scopus)

Abstract

Since the beginning of COVID-19, human beings have been threatened by various aspects. As of February 14, 2022, this global pandemic has caused about 412 million cases and 5.8 million deaths worldwide. Stock markets are one of the most agile economic indicators. In this context, this study investigates how daily growth in deaths, daily growth in cases, and governmental interventions affect stock market returns in 21 emerging economies from January 22 to December 31, 2020. Our results indicate that government response policies to Covid-19 positively impact stock returns. Besides, the daily growths in deaths and cases negatively affect stock market returns. The results also indicate that government response policies also have an indirect positive effect on stock market returns by weakening the negative impact of the daily growth in COVID-19 confirmed cases and deaths.

Original language	English
Article number	101659
Journal	Research in International Business and Finance
Volume	61
DOIs	https://doi.org/10.1016/j.ribaf.2022.101659
Publication status	Published - Oct 2022

Bibliographical note

Publisher Copyright:
© 2022 Elsevier B.V.

Keywords

COVID-19
Emerging economies
Government response

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10.1016/j.ribaf.2022.101659

Cite this

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title = "The effects of daily growth in COVID-19 deaths, cases, and governments{\textquoteright} response policies on stock markets of emerging economies",

abstract = "Since the beginning of COVID-19, human beings have been threatened by various aspects. As of February 14, 2022, this global pandemic has caused about 412 million cases and 5.8 million deaths worldwide. Stock markets are one of the most agile economic indicators. In this context, this study investigates how daily growth in deaths, daily growth in cases, and governmental interventions affect stock market returns in 21 emerging economies from January 22 to December 31, 2020. Our results indicate that government response policies to Covid-19 positively impact stock returns. Besides, the daily growths in deaths and cases negatively affect stock market returns. The results also indicate that government response policies also have an indirect positive effect on stock market returns by weakening the negative impact of the daily growth in COVID-19 confirmed cases and deaths.",

keywords = "COVID-19, Emerging economies, Government response",

author = "Murat Guven and Basak Cetinguc and Bulent Guloglu and Fethi Calisir",

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year = "2022",

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doi = "10.1016/j.ribaf.2022.101659",

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AU - Guven, Murat

AU - Cetinguc, Basak

AU - Guloglu, Bulent

AU - Calisir, Fethi

PY - 2022/10

Y1 - 2022/10

N2 - Since the beginning of COVID-19, human beings have been threatened by various aspects. As of February 14, 2022, this global pandemic has caused about 412 million cases and 5.8 million deaths worldwide. Stock markets are one of the most agile economic indicators. In this context, this study investigates how daily growth in deaths, daily growth in cases, and governmental interventions affect stock market returns in 21 emerging economies from January 22 to December 31, 2020. Our results indicate that government response policies to Covid-19 positively impact stock returns. Besides, the daily growths in deaths and cases negatively affect stock market returns. The results also indicate that government response policies also have an indirect positive effect on stock market returns by weakening the negative impact of the daily growth in COVID-19 confirmed cases and deaths.

AB - Since the beginning of COVID-19, human beings have been threatened by various aspects. As of February 14, 2022, this global pandemic has caused about 412 million cases and 5.8 million deaths worldwide. Stock markets are one of the most agile economic indicators. In this context, this study investigates how daily growth in deaths, daily growth in cases, and governmental interventions affect stock market returns in 21 emerging economies from January 22 to December 31, 2020. Our results indicate that government response policies to Covid-19 positively impact stock returns. Besides, the daily growths in deaths and cases negatively affect stock market returns. The results also indicate that government response policies also have an indirect positive effect on stock market returns by weakening the negative impact of the daily growth in COVID-19 confirmed cases and deaths.

KW - COVID-19

KW - Emerging economies

KW - Government response

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DO - 10.1016/j.ribaf.2022.101659

M3 - Article

AN - SCOPUS:85128329070

SN - 0275-5319

VL - 61

JO - Research in International Business and Finance

JF - Research in International Business and Finance

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ER -

The effects of daily growth in COVID-19 deaths, cases, and governments’ response policies on stock markets of emerging economies

Abstract

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Keywords

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