Impact of Covid-19 Pandemic on Major International Financial Markets: An Empirical Study | Zendy

Debabrata Mukhopadhyay | Zendy

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Impact of Covid-19 Pandemic on Major International Financial Markets: An Empirical Study

Author(s) -

Debabrata Mukhopadhyay

Publication year - 2021

Publication title -

global business and economics anthology

Language(s) - English

Resource type - Journals

ISSN - 1553-1392

DOI - 10.47341/gbea.21032

Subject(s) - pandemic , covid-19 , spillover effect , china , financial market , stock (firearms) , financial crisis , economics , scope (computer science) , business , emerging markets , development economics , financial economics , geography , finance , macroeconomics , medicine , outbreak , disease , archaeology , pathology , virology , computer science , infectious disease (medical specialty) , programming language

This study investigates the impact of the Covid-19 pandemic on major international stock markets namely the USA, China, Japan, Germany, and India, the five nations hit severely by Covid-19 which are also the five largest economies in the world during March 11, 2020, to July 10, 2020, at daily level data. This study demonstrates that as COVID-19 is perhaps a unique outcome in terms of its global scope as a pandemic, in terms of its intensity and severity will create a widespread change in the investors’ mood about the future economy. This paper examines the ‘spillover effects” of the Covid-19 pandemic on the major financial markets by structural break analysis using Bai-Perron multiple break tests.

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