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The Impact of COVID-19 Crisis on Stock Markets’ Statistical Complexity

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  • Bogdan Dima
  • Stefana Maria Dima
  • Roxana Ioan
  • M. De Aguiar

Abstract

The spread of the COVID-19 pandemic has severely impacted all aspects of social and economic life, including the evolution of stock markets. Thus, we advance a methodological framework suitable for assessing 2020 year-long shifts in markets’ statistical complexity, and we apply such framework to ten major international developed or emerging stock markets. Our research reveals that this crisis had considerably altered markets’ evolutionary patterns. The network description of markets’ multivocal transmission of complex responses changed in 2020, European and Asian markets playing a pivotal role. Nevertheless, an important regional and time heterogeneity emerges. In addition, we find that the total number of worldwide confirmed COVID-19 cases plays a leading role in the changes in markets’ complexity.

Suggested Citation

  • Bogdan Dima & Stefana Maria Dima & Roxana Ioan & M. De Aguiar, 2022. "The Impact of COVID-19 Crisis on Stock Markets’ Statistical Complexity," Complexity, Hindawi, vol. 2022, pages 1-15, April.
    • Handle: RePEc:hin:complx:5478283
    DOI: 10.1155/2022/5478283
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    Cited by:

    1. Corzo Santamaría, Teresa & Martin-Bujack, Karin & Portela, Jose & Sáenz-Diez, Rocio, 2022. "Early market efficiency testing among hydrogen players," International Review of Economics & Finance, Elsevier, vol. 82(C), pages 723-742.

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