IDEAS home Printed from https://ideas.repec.org/a/aoj/ajeaer/v11y2024i2p92-102id6082.html
   My bibliography  Save this article

Exchange rate innovation, global pandemic and stock market returns: Empirical evidence from ECOWAS countries

Author

Listed:
  • Ambrose Nnaemeka Omeje
  • Ndubuisi Obeka Chukwu
  • Augustine Jideofor Mba

Abstract

This study used the panel VAR impulse response function model and high-frequency monthly data from 2020M1 to 2021M12 to examine the response of innovations in the exchange rate and stock market returns to the COVID-19 pandemic in Economic Communities of West African States (ECOWAS). The study found that the effect of shocks of COVID-19 today on future exchange rate innovation worsens the real conditions of exchange rate innovation in ECOWAS countries. Again, the impact of the shocks of COVID-19 today on future stock market returns encourages the real conditions of stock market returns in ECOWAS countries. It was recommended that instead of lockdown, ECOWAS governments should explore other policy options peculiar to the region in COVID-19 containment and also strive harder to deepen the stock market and encourage increased utilization of information and communication technology in stock market trading to cut costs, raise returns and connect trade with the rest of the world’s stock markets.

Suggested Citation

  • Ambrose Nnaemeka Omeje & Ndubuisi Obeka Chukwu & Augustine Jideofor Mba, 2024. "Exchange rate innovation, global pandemic and stock market returns: Empirical evidence from ECOWAS countries," Asian Journal of Economics and Empirical Research, Asian Online Journal Publishing Group, vol. 11(2), pages 92-102.
    • Handle: RePEc:aoj:ajeaer:v:11:y:2024:i:2:p:92-102:id:6082
    as

    Download full text from publisher

    File URL: http://www.asianonlinejournals.com/index.php/AJEER/article/view/6082/2883
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aoj:ajeaer:v:11:y:2024:i:2:p:92-102:id:6082. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sara Lim (email available below). General contact details of provider: http://asianonlinejournals.com/index.php/AJEER/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.