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COVID-19 lockdowns, stimulus packages, travel bans, and stock returns.

ABSTRACT: 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.

SUBMITTER: Narayan PK

PROVIDER: S-EPMC7440077 | biostudies-literature | 2021 Jan

REPOSITORIES: biostudies-literature

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COVID-19 lockdowns, stimulus packages, travel bans, and stock returns.

Narayan Paresh Kumar PK Phan Dinh Hoang Bach DHB Liu Guangqiang G

Finance research letters 20200820

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. ...[more]

PMID: 32843886

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