TY - JOUR
T1 - COVID-19 lockdowns, stimulus packages, travel bans, and stock returns
AU - Narayan, Paresh Kumar
AU - Phan, Dinh Hoang Bach
AU - Liu, Guangqiang
N1 - Publisher Copyright:
© 2020
Copyright:
Copyright 2021 Elsevier B.V., All rights reserved.
PY - 2021/1
Y1 - 2021/1
N2 - This paper examines the effect of government responses of G7 countries to the coronavirus pandemic (COVID-19) on stock market returns. Using time-series data, we show that lockdowns, travel bans, and economic stimulus packages all had a positive effect on the G7 stock markets. However, lockdowns were most effective in cushioning the effects of COVID-19. Our results are robust to different measures of returns and controls for other factors of returns.
AB - This paper examines the effect of government responses of G7 countries to the coronavirus pandemic (COVID-19) on stock market returns. Using time-series data, we show that lockdowns, travel bans, and economic stimulus packages all had a positive effect on the G7 stock markets. However, lockdowns were most effective in cushioning the effects of COVID-19. Our results are robust to different measures of returns and controls for other factors of returns.
KW - COVID-19
KW - G7
KW - Stock markets
UR - http://www.scopus.com/inward/record.url?scp=85089905150&partnerID=8YFLogxK
U2 - 10.1016/j.frl.2020.101732
DO - 10.1016/j.frl.2020.101732
M3 - Article
C2 - 32843886
AN - SCOPUS:85089905150
SN - 1544-6123
VL - 38
JO - Finance Research Letters
JF - Finance Research Letters
M1 - 101732
ER -