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The Impact of Novel Coronavirus (COVID-19) on the Global Oil and Aviation Markets

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  • Majdouline Mhalla

Abstract

The Novel Coronavirus (COVID-19) is an infectious disease that is believed to have originated in Wuhan city, Hubei Province in China around the end of December 2019 and, had spread to 74 countries and territories so far; this virus is growing every day and is becoming a real concern for citizens, governments and businesses around the world. This paper describes the spread of the disease in China and the world and discusses its impact on the world economy focusing on two major industries the oil and the aviation industry. (COVID-19) have shown until now a negative impact on the global economy but in this paper, our main focus will be on two markets where china plays a major leading role; Several analysts estimate the negative impact on Chinese and Global economy if the epidemic continues. By analyzing the available data, the coronavirus scale is larger compared to any epidemic in the past due to its high contagion risk and asymptomatic cases, but the virus effects doesn’t stand only on the number of cases but also on the economic losses, we believe that the Coronavirus will severely affect the air travel and the aviation industry in the short run, and will have a significant impact on the world oil industry production.

Suggested Citation

  • Majdouline Mhalla, 2020. "The Impact of Novel Coronavirus (COVID-19) on the Global Oil and Aviation Markets," Journal of Asian Scientific Research, Asian Economic and Social Society, vol. 10(2), pages 96-104.
    • Handle: RePEc:asi:joasrj:v:10:y:2020:i:2:p:96-104:id:3954
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    Citations

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    Cited by:

    1. Herjuna Qobush Izzahdi & Ani Wilujeng Suryani, 2023. "COVID-19 Vaccination, Government Strict Policy and Capital Market Volatility: Evidence from ASEAN Countries," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 117-135.
    2. Kyungbo Park & Hangook Kim & Jeonghwa Cha, 2023. "An Exploratory Study on the Development of a Crisis Index: Focusing on South Korea’s Petroleum Industry," Energies, MDPI, vol. 16(14), pages 1-24, July.
    3. Mensi, Walid & Reboredo, Juan C. & Ugolini, Andrea, 2021. "Price-switching spillovers between gold, oil, and stock markets: Evidence from the USA and China during the COVID-19 pandemic," Resources Policy, Elsevier, vol. 73(C).
    4. Adekoya, Oluwasegun B. & Oliyide, Johnson A. & Oduyemi, Gabriel O., 2021. "How COVID-19 upturns the hedging potentials of gold against oil and stock markets risks: Nonlinear evidences through threshold regression and markov-regime switching models," Resources Policy, Elsevier, vol. 70(C).
    5. Hazem Al Samman & Erhan Akkas, 2022. "How Do the Crises of Falling Oil Prices and COVID-19 Affect Economic Sectors in the Rentier Economies? Evidence from the GCC Countries," Journal of Economy Culture and Society, Istanbul University, Faculty of Economics, vol. 65(65), pages 105-127, June.
    6. Chowdhury, Mohammad Ashraful Ferdous & Meo, Muhammad Saeed & Aloui, Chaker, 2021. "How world uncertainties and global pandemics destabilized food, energy and stock markets? Fresh evidence from quantile on quantile regressions," International Review of Financial Analysis, Elsevier, vol. 76(C).
    7. Adekoya, Oluwasegun B. & Oliyide, Johnson A., 2021. "How COVID-19 drives connectedness among commodity and financial markets: Evidence from TVP-VAR and causality-in-quantiles techniques," Resources Policy, Elsevier, vol. 70(C).
    8. Cui xiaozhong, & Yen-Ku, Kuo & Maneengam, Apichit & Cong, Phan The & Quynh, Nguyen Ngoc & Ageli, Mohammed Moosa & Wisetsri, Worakamol, 2022. "Covid-19 and oil and gold price volatilities: Evidence from China market," Resources Policy, Elsevier, vol. 79(C).
    9. Adekoya, Oluwasegun B. & Oliyide, Johnson A. & Yaya, OlaOluwa S. & Al-Faryan, Mamdouh Abdulaziz Saleh, 2022. "Does oil connect differently with prominent assets during war? Analysis of intra-day data during the Russia-Ukraine saga," Resources Policy, Elsevier, vol. 77(C).
    10. Ricardo Pagan & Daniel Horsfall, 2020. "Medical Tourism Markets: Models of Sustainability. The Case of Spain and The Costa del Sol (Malaga)," Sustainability, MDPI, vol. 12(21), pages 1-17, October.

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