Journal
EMERGING MARKETS FINANCE AND TRADE
Volume 57, Issue 6, Pages 1603-1612Publisher
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
DOI: 10.1080/1540496X.2021.1897005
Keywords
COVID-19 pandemic; economic sentiment; consumer confidence; industrial confidence; services confidence
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The COVID-19 pandemic has had a significant negative impact on global economic sentiment, particularly affecting industrial confidence, but it has also significantly boosted consumer confidence.
This paper empirically analyzes the impact of the COVID-19 pandemic on economic sentiment by constructing an econometric model using monthly data from 36 countries from December 2019 to October 2020. The results of this study show: (1) After the outbreak of the COVID-19 pandemic, economic sentiment fluctuated greatly, and even turned pessimistic. (2) It has a significant negative impact on economic sentiment. (3) It, however, has a substantial positive impact on consumer confidence, a major negative impact on industrial confidence, and no significant impact on services confidence.
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