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Effects Of (Covid-19) Coronavirus On Financial Indicators

Author

Listed:
  • Samet Gursoy

    (Mehmet Akif Ersoy Universitesi)

  • Mert Baran Tunçel

    (SIRNAK UNIVERSITY, ŞIRNAK VOCATIONAL SCHOOL)

  • Burak Sayar

    (Bitlis Eren Universitesi Sağlık Hizmetleri Meslek Yuksekokulu)

Abstract

In this study, it was aimed to reveal the causality relationship between Covid-19 epidemic and financial indicators. In this context, while the SSEC index, which is the indicator share market of China, where the virus originates from, is taken as dependent variable, gold, Brentoil, Bitcoinand VIX index data are used as independent variables. Inaddition, daily data (790 Observations) between 03.01.2017 and 10.03.2020 wereused in the study in which independent models were established for each dependent variable. Later, the data of the same country were arranged to cover the periods between 06.12.2019 and 10.03.2020 when the virus was detected. The effects of coronavirus on financial indicators were in vestigated by using theToda-Yamamoto (1995) causality test. According to the analysis results obtained, a causality relationship was found between the SSEC indexand Gold and Vix (fearindex) at a level of 5% significance. While there was a one-way causality from SSEC indexto Gold, it was determined that there was a bilateral causality relationship with Vix (fearindex). These results have changed in both periods specified in the study. However, in addition to the significant relationship between SSEC index and gold prices, findings have been reached that the effect of SSEC index on Gold prices has increased after December 2019.

Suggested Citation

  • Samet Gursoy & Mert Baran Tunçel & Burak Sayar, 2020. "Effects Of (Covid-19) Coronavirus On Financial Indicators," Ekonomi Maliye Isletme Dergisi, Adil AKINCI, vol. 3(1), pages 20-32, June.
    • Handle: RePEc:gnx:emid43:2020-3-1-730941
    DOI: 10.46737/emid.730941
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    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • E00 - Macroeconomics and Monetary Economics - - General - - - General

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