What is it about?
The purpose of this paper is to examine the connected dynamics of the affected Asian financial markets and global financial market in relation to the outbreak of the coronavirus (COVID-19) pandemic. We particularly examine the temporal dependence and connectedness of the affected markets with the global financial market by using the time-varying dependence approach in a time-frequency space under COVID-19. Our findings indicate a strong, positive dependence among the investigated markets due to the outbreak of COVID-19. In addition, we report an increased tendency of co-movements over the higher horizon which is documented by COVID-19. These findings are of significant interest for market participants, policymakers, and international investors.
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Why is it important?
The relationship between the stock markets of developing countries and the world has attracted significant attention over the last decade. However, the significant decline in the financial markets of these countries due to the outbreak of COVID-19 has raised concern among market participants and policymakers regarding the connectedness of these markets and the global financial market index in the context of COVID-19.
Perspectives
We started working on it when the COVID-19 has just started in the world and the whole world community was ignorant about it. We thought of doing something on this matter in the context of the stock market and we did it. The team worked hard led by its lead author Gazi Salah Uddin. I would like to thank all the co-authors for their hard work and contribution. It was a fascinating experience in working with such a team.
Dr Gour Gobinda Goswami
North South University
Read the Original
This page is a summary of: Stock market contagion during the COVID-19 pandemic in emerging economies, International Review of Economics & Finance, May 2022, Elsevier,
DOI: 10.1016/j.iref.2022.02.028.
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