Stock market response to COVID-19 pandemic: A comparative evidence from two emerging markets

Autor: Joseph Emmanuel Tetteh, Anthony Amoah, PhD, Kenneth Ofori-Boateng, PhD, George Hughes
Jazyk: angličtina
Rok vydání: 2022
Předmět:
Zdroj: Scientific African, Vol 17, Iss , Pp e01300- (2022)
Druh dokumentu: article
ISSN: 2468-2276
DOI: 10.1016/j.sciaf.2022.e01300
Popis: This paper presents the first comparative study of emerging stock markets’ response to the COVID-19 pandemic with evidence from Ghana and Botswana. Using daily time-series data from March 1, 2020, to September 30, 2021, the study estimates parametric, semi-parametric and non-parametric models, and provides evidence to support the negative effects of the COVID-19 pandemic (i.e., the total number of reported COVID-19 cases and deaths) on the stock market performances of Ghana and Botswana. Interestingly, the study shows that the impact of the pandemic on Ghana's stock market is quantitatively greater than the stock market of Botswana. The study calls for fiscal and monetary policies to help firms on the stock market to survive the shock. Going forward, measures aimed at building a robust stock market to withstand such external shocks are critical.
Databáze: Directory of Open Access Journals