期刊
INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS
卷 77, 期 -, 页码 -出版社
ELSEVIER SCIENCE INC
DOI: 10.1016/j.irfa.2021.101819
关键词
Stock market volatility; COVID-19 pandemic; Novel coronavirus; Vaccinations
资金
- National Science Centre of Poland [2016/23/B/HS4/00731]
- Spanish Ministry of Science and Innovation [PID2020-114797GB-I00]
Vaccination programs have helped stabilize global equity markets, with a relatively stronger impact seen in developed markets.
The COVID-19 pandemic has exerted a noteworthy impact on stock market volatility around the world. Can vaccination programs revert these adverse effects? To answer this question, we scrutinize daily data from 66 countries from January 1, 2020 to April 30, 2021. We provide convincing evidence that COVID-19 vaccination assists in stabilizing the global equity markets. The drop in volatility is robust to many considerations and does not result solely from either the pandemic itself or the government policy responses-the negative correlation remains significant after controlling for these factors. The impact of vaccinations is relatively stronger within developed markets than in emerging ones.
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据