IDEAS home Printed from https://ideas.repec.org/a/aye/journl/v8y2022i1p41-51.html
   My bibliography  Save this article

COVID-19’s Impact on Global Stock Market Movements and an Examination on Turkish Market

Author

Listed:
  • Hazar ALTINBAŞ

    (Department of Finance and Banking, Beykent University, Istanbul, Turkey)

Abstract

Financial globalization has entered to an important phase, after capital account liberalizations in 1980s for developed countries, and in 1990s for developing countries. In this phase, systemic risk factors are increased, negative events and expectations became more likely to spread and effect all markets. Particularly in stock markets, it is seen that markets of many countries integrated with “global” market rapidly, but level of this integration has not reached to remarkably high levels and does not result with strong co-movements. Even faced crises cause similar reactions in stock markets in short-term, after-shock movements may show distinct characteristics. In this framework, possible effects of World Health Organization’s pandemic announcement for the disease COVID-19, which is made on 11 March 2020, on the changes in co-movements of stock markets are investigated by using Principal Component Analysis and a change point detection analysis. Daily index movements until the date 31.12.2020 of 20 stock markets, including Turkey are used in analyses. Additionally, impact of pandemic related local numbers and restriction levels on Turkish stock market is examined.

Suggested Citation

  • Hazar ALTINBAŞ, 2022. "COVID-19’s Impact on Global Stock Market Movements and an Examination on Turkish Market," Yildiz Social Science Review, Yildiz Technical University, vol. 8(1), pages 41-51.
    • Handle: RePEc:aye:journl:v:8:y:2022:i:1:p:41-51
    DOI: 10.51803/yssr.1146870
    as

    Download full text from publisher

    File URL: https://yssr.yildiz.edu.tr/storage/upload/pdfs/1658743376-tr.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.51803/yssr.1146870?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    Pandemic; stock markets; co-movementsJournal: Yildiz Social Science Review;
    All these keywords.

    JEL classification:

    • F00 - International Economics - - General - - - General
    • F30 - International Economics - - International Finance - - - General
    • G00 - Financial Economics - - General - - - General
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • K00 - Law and Economics - - General - - - General (including Data Sources and Description)
    • K20 - Law and Economics - - Regulation and Business Law - - - General
    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General
    • M20 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

    Statistics

    Access and download statistics

    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:aye:journl:v:8:y:2022:i:1:p:41-51. 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: Murat DONDURAN (email available below). General contact details of provider: https://edirc.repec.org/data/ibytutr.html .

    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.