The Impact of Covid-19 and Crude Oil Price on Economic Policy Uncertainty; Evidence from an Emerging Market Economy

Umut Burak Geyikci

TR

The Impact of Covid-19 and Crude Oil Price on Economic Policy Uncertainty; Evidence from an Emerging Market Economy

Abstract

This study measured the short-run and long-run effects of Covid-19 on economic policy uncertainty (EPU) using daily data from 04.04.2020 to 16.09.2020 and the Autoregressive Distributed Lag (ARDL) model. In addition, the impact of crude oil price on EPU was measured.According to the ARDL bound test results, Covid-19 new deaths and Covid-19 new cases had a significant impact on the EPU in both short-run and long-run, while the effect of recovery was not found. In addition, the Brent crude oil price also has an inverse and significant effect on the EPU. The findings of the study show that while the decline in oil price is expected to cause a decrease in the current account deficit and therefore a decrease in uncertainty in an emerging economy where the current account deficit creates extreme fragility, Covid-19 has increased uncertainty by dominating this situation.

Keywords

Crude oil, ARDL, economic policy uncertainty, Covid, coronavirus, EPU, Emerging markets

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Details

Primary Language

English

Subjects

Finance

Journal Section

Research Article

Authors

Umut Burak Geyikci ^*
0000-0002-4285-2151
Türkiye

Publication Date

April 13, 2021

Submission Date

October 13, 2020

Acceptance Date

March 21, 2021

Published in Issue

Year 2021 Number: 115

IZ

https://izlik.org/JA36RT93TJ

APA

Geyikci, U. B. (2021). The Impact of Covid-19 and Crude Oil Price on Economic Policy Uncertainty; Evidence from an Emerging Market Economy. Maliye Ve Finans Yazıları, 115, 103-118. https://izlik.org/JA36RT93TJ

AMA

1.Geyikci UB. The Impact of Covid-19 and Crude Oil Price on Economic Policy Uncertainty; Evidence from an Emerging Market Economy. Maliye ve Finans Yazıları. 2021;(115):103-118. https://izlik.org/JA36RT93TJ

Chicago

Geyikci, Umut Burak. 2021. “The Impact of Covid-19 and Crude Oil Price on Economic Policy Uncertainty; Evidence from an Emerging Market Economy”. Maliye Ve Finans Yazıları, nos. 115: 103-18. https://izlik.org/JA36RT93TJ.

EndNote

Geyikci UB (April 1, 2021) The Impact of Covid-19 and Crude Oil Price on Economic Policy Uncertainty; Evidence from an Emerging Market Economy. Maliye ve Finans Yazıları 115 103–118.

IEEE

[1]U. B. Geyikci, “The Impact of Covid-19 and Crude Oil Price on Economic Policy Uncertainty; Evidence from an Emerging Market Economy”, Maliye ve Finans Yazıları, no. 115, pp. 103–118, Apr. 2021, [Online]. Available: https://izlik.org/JA36RT93TJ

ISNAD

Geyikci, Umut Burak. “The Impact of Covid-19 and Crude Oil Price on Economic Policy Uncertainty; Evidence from an Emerging Market Economy”. Maliye ve Finans Yazıları. 115 (April 1, 2021): 103-118. https://izlik.org/JA36RT93TJ.

JAMA

1.Geyikci UB. The Impact of Covid-19 and Crude Oil Price on Economic Policy Uncertainty; Evidence from an Emerging Market Economy. Maliye ve Finans Yazıları. 2021;:103–118.

MLA

Geyikci, Umut Burak. “The Impact of Covid-19 and Crude Oil Price on Economic Policy Uncertainty; Evidence from an Emerging Market Economy”. Maliye Ve Finans Yazıları, no. 115, Apr. 2021, pp. 103-18, https://izlik.org/JA36RT93TJ.

Vancouver

1.Umut Burak Geyikci. The Impact of Covid-19 and Crude Oil Price on Economic Policy Uncertainty; Evidence from an Emerging Market Economy. Maliye ve Finans Yazıları [Internet]. 2021 Apr. 1;(115):103-18. Available from: https://izlik.org/JA36RT93TJ

The scope of the Journal of Finance Letters consists of studies in the fields of economics, public finance, finance, and banking.

The Impact of Covid-19 and Crude Oil Price on Economic Policy Uncertainty; Evidence from an Emerging Market Economy

Abstract

Keywords

Abstract

References

Details

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Subjects

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Authors

Publication Date

Submission Date

Acceptance Date

Published in Issue

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