IMPACT OF COVID 19 ANNOUNCEMENTS AND GOVERNMENT RESTRICTIONS ON CDS PREMIUMS OF BRICS-T COUNTRIES

Yıl 2025, Cilt: 26 Sayı: 1, 303 - 313, 24.01.2025

Nevin Özer , Ali Özer , Osman Kartal , İstemi Çömlekçi

https://doi.org/10.31671/doujournal.1499782

Öz

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.

Anahtar Kelimeler

BRICS-T, CDS Premiums, Covid-19, Government Restrictions

Proje Numarası

2021.08.01.1251

COVID-19 DUYURULARININ VE HÜKÜMET KISITLAMALARININ BRICS-T ÜLKELERİNİN CDS PRİMLERİ ÜZERİNDEKİ ETKİSİ

Öz

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.

Anahtar Kelimeler

BRICS-T, CDS Primleri, Covid-19, Hükümet Duyuruları

Etik Beyan

Çalışmada kullanılan veriler kamuoyu ile paylaşılan veriler olup etik belgesine ihtiyaç yoktur.

Destekleyen Kurum

Düzce Üniversitesi BAP

Proje Numarası

2021.08.01.1251

Kaynakça

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