Research Article
Open access
Published on 13 September 2023
Download pdf
Gong,N. (2023). Impacts of COVID-19 on Global Financial Market. Advances in Economics, Management and Political Sciences,24,20-26.
Export citation

Impacts of COVID-19 on Global Financial Market

Nuofan Gong *,1,
  • 1 China Agricultural University

* Author to whom correspondence should be addressed.

https://doi.org/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

[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.

Cite this article

Gong,N. (2023). Impacts of COVID-19 on Global Financial Market. Advances in Economics, Management and Political Sciences,24,20-26.

Data availability

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

Disclaimer/Publisher's Note

The statements, opinions and data contained in all publications are solely those of the individual author(s) and contributor(s) and not of EWA Publishing and/or the editor(s). EWA Publishing and/or the editor(s) disclaim responsibility for any injury to people or property resulting from any ideas, methods, instructions or products referred to in the content.

About volume

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

Conference website: https://2023.icmred.org/
ISBN:978-1-915371-91-1(Print) / 978-1-915371-92-8(Online)
Conference date: 28 April 2023
Editor:Canh Thien Dang, Javier Cifuentes-Faura
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.24
ISSN:2754-1169(Print) / 2754-1177(Online)

© 2024 by the author(s). Licensee EWA Publishing, Oxford, UK. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) 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 policy for details).