Advances in Economics, Management and Political Sciences

- The Open Access Proceedings Series for Conferences


Proceedings of the 2023 International Conference on Management Research and Economic Development

Series Vol. 24 , 13 September 2023


Open Access | Article

Impacts of COVID-19 on Global Financial Market

Nuofan Gong * 1
1 China Agricultural University

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 24, 20-26
Published 13 September 2023. © 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Nuofan Gong. Impacts of COVID-19 on Global Financial Market. AEMPS (2023) Vol. 24: 20-26. DOI: 10.54254/2754-1169/24/20230408.

Abstract

Inflation and volatility have reached previously unheard-of heights as a result of the COVID-19 pandemic's significant market disruptions. The purpose of this paper is to examine the pandemic's short- and long-term effects on financial markets while taking into account how these effects vary across nations and geographical areas. Investors, businesses, and governments around the world have faced enormous challenges as a result of the initial stock market decline in February and March 2020 as well as the ongoing economic volatility and unpredictability.

Keywords

financial market, COVID-19 pandemic, risk management, fiscal and monetary stimulus, investment environment

References

1. Kohli, A. (2021). The accelerated digital transformation of finance in response to COVID-19. Journal of Financial Transformation, 52, 69-76.

2. Johannes, C. E., Kollenberg, T., & Pinter, J. (2020). The stock market and the severity of the pandemic. Journal of Banking & Finance, 120, 110849.

3. Chen, X., Lu, Y., & Shi, Y. (2020). COVID-19 and the financial system. Finance Research Letters, 35, 101604.

4. Nguyen, N. (2020). COVID-19 and the future of risk management. Journal of Risk Management in Financial Institutions, 13(4), 331-338.

5. Liu, Y., & Yan, H. (2021). COVID-19 impact and recovery of global stock markets: Evidence from selected countries. Journal of Risk and Financial Management, 14(4), 146. doi:10.3390/jrfm14040146

6. Véron, N. (2020). The COVID-19 financial crash: A preliminary analysis. Bruegel Policy Contribution, 2020/09. Retrieved from https://www.bruegel.org/wp-content/uploads/2020/04/PC-09-2020-English.pdf

7. Congressional Research Service. (2021). The CARES Act: Summary and analysis. Retrieved from https://fas.org/sgp/crs/natsec/IN11370.pdf

8. Bailey, M. (2021). Pandemic investors are going long on tech stocks. Financial Times. Retrieved from https://www.ft.com/content/177c6f47-43a3-4a9d-96a3-61443f89a245

9. CNBC. (2021). Amazon's stock price hits new all-time high as consumers continue to flock to e-commerce during the pandemic. https://www.cnbc.com/2021/01/12/amazons-stock-price-hits-new-all-time-high.html

10. JLL. (2021). Beyond the pandemic: The future of work and the workplace. https://www.us.jll.com/en/trends-and-insights/research/beyond-the-pandemic-the-future-of-work-and-the-workplace

11. Deloitte. (2020). COVID-19: Managing supply chain risk and disruption. https://www2.deloitte.com/global/en/pages/about-deloitte/articles/covid-19/managing-supply-chain-risk-and-disruption.html

12. McKinsey & Company. (2020). COVID-19 and the consumer: A permanent shift to value. https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/covid-19-and-the-consumer-a-permanent-shift-to-value

13. BlackRock. (2020). Sustainable investing: Resilience amid uncertainty. https://www.blackrock.com/us/individual/literature/whitepaper/bii-esg-resilience-amid-uncertainty-us.pdf

14. Horton, M., & Milani, C. (2020). The COVID-19 pandemic and emerging market economies: Research agenda and data needs. Emerging Markets Review, 44, 100669.

15. Ostry, J. D., & Ghosh, A. R. (2020). The COVID-19 pandemic and emerging markets: Lessons from past crises. IMF Blog. Retrieved from https://blogs.imf.org/2020/08/07/the-covid-19-pandemic-and-emerging-markets-lessons-from-past-crises/

16. Kaminker, C., Sankhe, S., & Boudreau, K. J. (2020). COVID-19 and the future of emerging markets. World Economic Forum. Retrieved from https://www.weforum.org/agenda/2020/04/covid-19-and-the-future-of-emerging-markets/

17. Levy-Yamamori, R., & Serafeim, G. (2020). Socially responsible firms and the COVID-19 crisis. Harvard Business Review. Retrieved from https://hbr.org/2020/04/socially-responsible-firms-and-the-covid-19-crisis

18. Mishra, S., Nayak, B., & Padhan, R. (2020). Covid-19 pandemic and the digital economy: Short-and long-term impacts and policy implications. Technological Forecasting and Social Change, 163, 120452.

19. Bown, C. P. (2020). Global supply chains in the pandemic. Journal of International Business Policy, 3(3), 287-301.

20. International Energy Agency (IEA). (2020). Renewables 2020. Retrieved from https://www.iea.org/reports/renewables-2020

21. BBC News. (2020, March 26). Coronavirus: How the world of work may change forever. Retrieved from https://www.bbc.com/news/business-52054918

22. Mazumdar, S. (2021). ESG investing and the COVID-19 pandemic. Journal of Sustainable Finance & Investment, 11(1), 1-10.

23. Gardner, B. (2021). Resilience and adaptability: Key lessons from the pandemic for financial markets. Global Finance Journal, 47, 100555.

Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License. Authors who publish this series agree to the following terms:

1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this series.

2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this series.

3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See Open Access Instruction).

Volume Title
Proceedings of the 2023 International Conference on Management Research and Economic Development
ISBN (Print)
978-1-915371-91-1
ISBN (Online)
978-1-915371-92-8
Published Date
13 September 2023
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/24/20230408
Copyright
13 September 2023
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated