Does the Indian Financial Market Nosedive because of the COVID-19 Outbreak, in Comparison to after Demonetisation and the GST?
Mishra, Alok Kumar and Rath, Badri Narayan and Dash, Aruna Kumar (2020) Does the Indian Financial Market Nosedive because of the COVID-19 Outbreak, in Comparison to after Demonetisation and the GST? Emerging Markets Finance and Trade, 56 (10). pp. 2162-2180. ISSN 1540-496X
|
Text
scopusresults (17).pdf - Accepted Version Download (62kB) | Preview |
Abstract
We investigate the impact of COVID-19 on the Indian financial market and compare it with the outcomes of two recent structural changes of the Indian economy: demonetization and implementation of the Goods and Services Tax (GST). Using daily stock return, net foreign institutional investment, and exchange rate data from January 3, 2003 to April 20, 2020, we find negative stock returns for all the indices during the COVID-19 outbreak, unlike during the post-demonetization and GST phases. Markov switching vector autoregression shows the impact of COVID-19 on stock returns is severe in comparison to that of demonetization and the GST.
| IITH Creators: |
|
||||
|---|---|---|---|---|---|
| Item Type: | Article | ||||
| Subjects: | Social sciences > Political Science & Economics Social sciences > Social Services Arts > Liberal arts |
||||
| Divisions: | Department of Liberal Arts | ||||
| Depositing User: | . LibTrainee 2021 | ||||
| Date Deposited: | 30 Mar 2021 04:19 | ||||
| Last Modified: | 30 Mar 2021 04:19 | ||||
| URI: | http://raiithold.iith.ac.in/id/eprint/7739 | ||||
| Publisher URL: | http://doi.org/10.1080/1540496X.2020.1785425 | ||||
| OA policy: | https://v2.sherpa.ac.uk/id/publication/8183 | ||||
| Related URLs: |
Actions (login required)
 |
View Item |
|
Statistics for this ePrint Item |
Altmetric
Altmetric