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The Impact of COVID-19 on Industrial, Banking, and Tourism Indexes

Author

Listed:
  • AyÅŸe ERGÄ°N ÃœNAL
  • Filiz YETÄ°Z
  • Aynur SÃœSAY

Abstract

The fight against COVID-19, which has become a global problem and still has an impact, still continues and a number of measures have been taken to mitigate the adverse economic impacts of the pandemic in Turkey. The measures taken affected each sector in the economy at different magnitudes. While results such as temporarily slowed-down production due to the first wave of the pandemic in certain production domains and decreased demand for manufactured goods have emerged, positive results also occurred due to the spread of remote online working as well as products such as food, cosmetics, hygiene and cleaning equipment, intense internet usage and the growth of manufacturing areas for smartphones, computers and so on, as well as increases in demand for those products. The extent to which sectors in the economy were affected throughout the pandemic has been an interesting research subject in the literature. Therefore, this study aims to examine the impacts of the COVID - 19 pandemic on the industrial, banking, and tourism sectors within the Turkish economy. In the study, over the period between March 11, 2020 – April 22, 2021, the number of confirmed daily infected cases was selected as the independent variable, whereas the XU100, XUSIN, XBANK, and XTRSM indexes were selected as dependent variables. The Toda Yamamoto causality test was performed in the study in which the COVID-19 outbreak was examined within the context of specific indexes. The analysis results indicated that a unilateral causal relationship existed running from the number of confirmed daily infected cases to all indexes under examination.

Suggested Citation

  • AyÅŸe ERGÄ°N ÃœNAL & Filiz YETÄ°Z & Aynur SÃœSAY, 2022. "The Impact of COVID-19 on Industrial, Banking, and Tourism Indexes," Fiscaoeconomia, Tubitak Ulakbim JournalPark (Dergipark), issue 1.
    • Handle: RePEc:fis:journl:220114
    DOI: 10.25295/fsecon.1013123
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    References listed on IDEAS

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    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General

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