Covid-19 Finansal Bulaşmaya Sebep Oldu Mu?

Öz

Çin'in Wuhan şehrinde ortaya çıkan ve tüm dünyaya hızla yayılan COVID-19 salgınının finansal piyasalarda bulaşmaya neden olup olmadığı araştırılmıştır. Bu amaçla, COVID-19 salgınının finansal piyasalarda bulaşma etkisi olup olmadığı ve etkinin yönü incelenmiştir. Finansal bulaşma etkisinin belirlenmesi için on altı ülke seçilmiş ve bu ülkelerin COVID-19 vaka sayıları ile borsa endeksleri arasındaki ilişki incelenmiştir. Analize tabi olan tüm ülkelerde COVID-19 vaka sayısı ile borsa endeksi değişkenleri arasında istatistiksel olarak % 1 önem düzeyinde anlamlı ve negatif bir ilişki bulunmuştur. SARS, Domuz Gribi, MERS ve COVID-19 gibi salgınların, oluştukları bölgelerin dışına yayıldığını göz önünde bulundurursak, dünya bu tür salgınlara açık olduğu ve bu nedenle ülkelerin finansal piyasalarının kırılganlıklarını azaltmak için gerekli önlemleri almasını zorunlu hale getirmiştir.

Anahtar Kelimeler

• COVID-19, Finansal Bulaşma, Pandemi, Korelasyon

Did the Covid-19 Pandemic Cause Financial Contagion?

Abstract

The purpose of this paper is to investigate whether or not the COVID-19 pandemic that occurred in Wuhan city of China and spread rapidly all over the world causes the effect of contagion in financial markets. For this purpose, it has examined whether the COVID-19 pandemic had a contagion effect in the financial markets and the direction of the impact. Sixteen countries have been selected for the determination of the financial contagion effect and the correlation between cases number of these countries and the stock market indices has been examined. A statistically significant and negative relationship between COVID-19 case number and stock market index variables at the % 1 significance level has been found in all countries subject to the analysis. Considering that outbreaks such as SARS, Swine Flu, MERS and COVID-19 spread outside the regions they occur, have a negative impact on financial markets and the world is open to such the epidemics; has made it compulsory for countries to take the necessary measures to reduce their vulnerability to the financial markets.

Keywords

• COVID-19, Financial Contagion, Pandemic, Correlation

Kaynakça

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