Effects of COVID-19 on Global Financial Markets: Evidence from Qualitative Research for Developed and Developing Economies
Article
Article Title | Effects of COVID-19 on Global Financial Markets: Evidence from Qualitative Research for Developed and Developing Economies |
---|---|
ERA Journal ID | 32867 |
Article Category | Article |
Authors | Zhao, Linhai (Author), Rasoulinezhad, Ehsan (Author), Sarker, Tapan (Author) and Taghizadeh‑Hesary, Farhad (Author) |
Journal Title | European Journal of Development Research |
Journal Citation | 135 (1), pp. 148-166 |
Number of Pages | 19 |
Year | 2023 |
Publisher | Springer |
Place of Publication | United Kingdom |
ISSN | 0957-8811 |
1743-9728 | |
Digital Object Identifier (DOI) | https://doi.org/10.1057/s41287-021-00494-x |
Web Address (URL) | https://link.springer.com/article/10.1057/s41287-021-00494-x |
Abstract | The research aims to prioritize the pandemic’s impact on the financial markets of developed and developing economies using a multi-criteria decision-making approach. The results revealed that COVID-19’s pandemic effects on financial markets differ between developed and developing nations. COVID-19 pandemic affects developed countries’ financial markets more through supply reduction, demand reduction, and economic instability. Regarding developing nations, confidence and expectations, changes in consumption patterns, and the bandwagon effect are the three most significant impacts of COVID-19 pandemic on financial markets. The best decisions to lower the effect of COVID-19 pandemic on developed nations’ financial markets are the declaration of the stimulus package and support of small-and-medium-sized enterprises. Contrastingly, in developing countries, support for vulnerable households and declaration of the stimulus package are the best decisions to combat COVID-19’s negative impact on their financial markets. As practical policy implications for lowering COVID-19’s negative impact on financial markets, the promotion of new financing instruments, reconstruction of the relationship between public and private sectors, and support of vulnerable households and enterprises are highly recommended. |
Keywords | Analytic hierarchy process; COVID-19; External shock; Global financial markets; Sustainable development goals |
ANZSRC Field of Research 2020 | 350204. Financial institutions (incl. banking) |
Public Notes | File reproduced in accordance with the copyright policy of the publisher/author. |
Byline Affiliations | Huaqiao University, China |
University of Tehran, Iran | |
Griffith University | |
Tokai University, Japan | |
Institution of Origin | University of Southern Queensland |
https://research.usq.edu.au/item/q72x4/effects-of-covid-19-on-global-financial-markets-evidence-from-qualitative-research-for-developed-and-developing-economies
Download files
136
total views43
total downloads4
views this month2
downloads this month