COVID-19â€™s Damages on International Stock Markets

Sylvia Susilo; Sukmawati Sukamulja

doi:10.14414/jebav.v25i1.2999

Vol. 25 No. 1 (2022), Articles

Vol. 25 No. 1 (2022)

COVID-19â€™s Damages on International Stock Markets

Articles

DOI: 10.14414/jebav.v25i1.2999

Published 29-07-2022

Sylvia Susilo
Sukmawati Sukamulja⁺⁻

Sylvia Susilo

Sukmawati Sukamulja

Atma Jaya Yogyakarta University

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Keywords

COVID-19
return
international stock markets

How to Cite

Susilo, S., & Sukamulja, S. (2022). COVID-19â€™s Damages on International Stock Markets. Journal of Economics, Business, and Accountancy Ventura, 25(1), 31-47. https://doi.org/10.14414/jebav.v25i1.2999

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

Abstract

This research aims to analyze the effect of pandemic that hit the world: COVID-19 on return of the international stock market from March 11, 2020 until March 11, 2022. COVID-19 is measured by growth in cases and death. The novelty from this research is the use of 30 countries with the highest COVID-19â€™s cases. Methods of analysis used in this research are Error Correction Model (ECM) and Grangerâ€™s Causality Test using EViews 10. ECMâ€™s result on X1 to Y show a significant effect on 22 countries in long-term and 22 countries in short-term. X2 and Y in ECMâ€™s result show a significant effect on 23 countries in long-term and 26 countries in short-term. Two-way causality on X1 and Y occurred in 25 countries. Variables X2 and Y showed two-way causality on 28 countries. This research conducted to contribute for research and observation of the phenomenon that currently engulfing the world, COVID-19 pandemic.

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COVID-19â€™s Damages on International Stock Markets

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