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The Epidemic of COVID-19 and the Persistence of MINT Stock Prices

Author

Listed:
  • Nuruddeen Usman
  • Chinecherem Dionne Okoronkwo

    (Bank of England, United Kingdom)

Abstract

This paper analyzes the Efficient Market Hypothesis (EMH) and stock price predictability for the economies of Mexico, Indonesia, Nigeria, and Turkey (MINT) using the fractional integration method. The result negates the Efficient Market Hypothesis for Nigeria and Indonesia. However, there is a slight divergence in the level of shock persistence in the two stock markets. Additionally, the differencing parameter was relatively unstable during the COVID-19 period, suggesting that the pandemic has had an impact on the level of stock price persistence in MINT countries.

Suggested Citation

  • Nuruddeen Usman & Chinecherem Dionne Okoronkwo, 2024. "The Epidemic of COVID-19 and the Persistence of MINT Stock Prices," Asian Economics Letters, Asia-Pacific Applied Economics Association, vol. 5(1), pages 1-6.
    • Handle: RePEc:ayb:jrnael:105
    DOI: 2024/07/01
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    More about this item

    Keywords

    Fractional integration; Stock prices; COVID-19;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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