Abstract
The objective of the study to investigates the impact of COVID-19 epidemic on Saudi stock market performance by using regression model and pairwise granger causality tests. The time series data has been taken for this study from 01 March 2020 to 6 Dec 2020. Coronavirus has been measured in terms of cumulative new corona cases per million, new corona deaths per million, total corona cases per million and total corona deaths per million, whereas stock market return is evaluated in terms of stock market index. The study’s finding reveal that Saudi stock market significance affected by COVID-19. The study also depicts that unidirectional and bidirectional relationship between corona-virus cases and Saudi stock market with the help of granger causality test. We also highlight the main the preventive policies taken by governments related to COVID-19 have affected the stock market.
Highlights
An unexpected outbreak of COVID-19 spread globally towards the end of year 2019
Coronavirus has been measured in terms of cumulative new corona cases per million, new corona deaths per million, total corona cases per million and total corona deaths per million, whereas stock market return is evaluated in terms of stock market index
The global pandemic was confirmed by the World Health Organization (WHO) COVID-19 on 11 March 2020
Summary
An unexpected outbreak of COVID-19 spread globally towards the end of year 2019. Wuhan, a Chines city center, has been designed as the primary COVID-19 event for December 2019. The global pandemic was confirmed by the World Health Organization (WHO) COVID-19 on 11 March 2020. It is a significant reminder for all nations since it presents a genuine danger to general wellbeing and by and large economy on both public and global level. Continuous changes to economic growth predictions, as well as rising risk aversion, have led in extreme volatility in the stock market and other risky asset markets, accompanied by severe uncertainty about future pandemic development. The importance of study to investigates the effect of epidemic on Saudi stock market performance by using regression model and pairwise granger causality tests. The final section of the report includes conclusion and policy prevention
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