Doğuş Üniversitesi Dergisi 1308-6979 Dogus University 10.31671/doujournal.1499782 Finance Finans COVID-19 DUYURULARININ VE HÜKÜMET KISITLAMALARININ BRICS-T ÜLKELERİNİN CDS PRİMLERİ ÜZERİNDEKİ ETKİSİ IMPACT OF COVID 19 ANNOUNCEMENTS AND GOVERNMENT RESTRICTIONS ON CDS PREMIUMS OF BRICS-T COUNTRIES https://orcid.org/0000-0002-1736-4199 Özer Nevin DÜZCE ÜNİVERSİTESİ https://orcid.org/0000-0003-4736-3418 Özer Ali DÜZCE ÜNİVERSİTESİ https://orcid.org/0000-0001-9505-3161 Kartal Osman DÜZCE ÜNİVERSİTESİ https://orcid.org/0000-0001-8922-071X Çömlekçi İstemi DÜZCE ÜNİVERSİTESİ 01 24 2025 26 1 303 313 06 11 2024 09 24 2024 Copyright © 2000, Dogus University Journal 2000 Dogus University Journal

In this study, the impact of changes in the number of Covid-19 cases and deaths, as well as government restrictions taken to reduce the spread of the pandemic, on the CDS premiums of BRICS-T countries, which are risk indicators, were examined. The data for the study include the number of deaths and cases as Covid-19 announcements, the stringency index calculated by the Oxford Covid-19 Government Response Tracker (OxCGRT) for government restrictions, and the CDS premium prices for Brazil, Russia, India, China, South Africa, and Turkey. For he study, Kao and Pedroni cointegration tests, Dumitrescu Hurlin and Granger causality analyses, and static panel data analysis were conducted. According to the analysis results, the cointegration tests indicate a long-term relationships between CDS premiums and case, death, strigency index of BRICS-T countries. According to the causality test results, a causal relationship from government restrictions to country CDS premiums, while no relationship could be determined from the number of cases and deaths. The static panel analysis results indicate that only government restrictions have a positive and significant effect on CDS premiums. In conclusion, the study shows that the increase in restrictions, along with the pressure of government restrictions on the economic system, increases the risk of emerging and developing countries.

In this study, the impact of changes in the number of Covid-19 cases and deaths, as well as government restrictions taken to reduce the spread of the pandemic, on the CDS premiums of BRICS-T countries, which are risk indicators, were examined. The data for the study include the number of deaths and cases as Covid-19 announcements, the stringency index calculated by the Oxford Covid-19 Government Response Tracker (OxCGRT) for government restrictions, and the CDS premium prices for Brazil, Russia, India, China, South Africa, and Turkey. For he study, Kao and Pedroni cointegration tests, Dumitrescu Hurlin and Granger causality analyses, and static panel data analysis were conducted. According to the analysis results, the cointegration tests indicate a long-term relationships between CDS premiums and case, death, strigency index of BRICS-T countries. According to the causality test results, a causal relationship from government restrictions to country CDS premiums, while no relationship could be determined from the number of cases and deaths. The static panel analysis results indicate that only government restrictions have a positive and significant effect on CDS premiums. In conclusion, the study shows that the increase in restrictions, along with the pressure of government restrictions on the economic system, increases the risk of emerging and developing countries.

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