Abstract
The study examined the impact of COVID confirmed cases and deaths on BRIC countries' stock market return and volatility. The entire data was collected for the time duration from 1 June 2019 to 31 May 2020 for all the four BRIC nations. The results based on GARCH (1, 1) model revealed that stock markets were adversely affected due to COVID 19 crisis. Moreover, results suggest the negative correlation between stock market return and volatility index. The results are robust, as VAR-X model also suggests that volume of BRIC nations stock market have a negative significant impacted due to cases and deaths by COVID. The study highlights that investors are in a pessimistic mode due to COVID, which is evident from stock market results of BRIC nations. Overall, the results illustrate the changes in financial markets globally due to COVID.
Published Version
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call