1st Edition
Research on Pandemics Lessons from an Economics and Finance Perspective
The lasting turmoil associated with the unprecedented pandemic, triggered by the novel corona virus COVID-19, has dragged the world into a mud of uncertainty. Fiscal stimulation, interest rate cuts, global supply-chain redeployment, "pandemic bond" and circuit breakers kicked in and the world is responding to this great challenge. But how can finance and economic research help the world under such circumstances?
This book dwells on this new area of research and tries to understand how pandemics impact the economic and financial ecosystem of both emerging and advanced economies. Lessons learnt from the experience of previous pandemics maybe presented and discussed through drawing on policy lessons to date. By gathering research on political economy, geopolitical issues, behavioral finance, international institutional responses and medical and health issues resulting from pandemics, the chapters in this edited volume help in expanding the knowledge of social and economic consequences of the pandemic as well as set the foundation for future research. This book would benefit scholars, policy makers and entrepreneurs worldwide as a valuable archive of research on pandemics.
The chapters in this book were originally published as a special issue of Emerging Markets Finance and Trade.
Introduction: Research on Pandemics Special Issue of Emerging Markets Finance and Trade
Yezhou Sha and Susan Sunila Sharma
1. Country Responses and the Reaction of the Stock Market to COVID-19— a Preliminary Exposition
Dinh Hoang Bach Phan and Paresh Kumar Narayan
2. Flatten the Curve and Stock Market Liquidity – An Inquiry into Emerging Economies
Omair Haroon and Syed Aun R. Rizvi
3. Does the Indian Financial Market Nosedive because of the COVID-19 Outbreak, in Comparison to after Demonetisation and the GST?
Alok Kumar Mishra, Badri Narayan Rath and Aruna Kumar Dash
4. How Do Firms Respond to COVID- 19? First Evidence from Suzhou, China
Xin Gu, Shan Ying, Weiqiang Zhang and Yewei Tao
5. COVID– 19’s Impact on Stock Prices Across Different Sectors— An Event Study Based on the Chinese Stock Market
Pinglin He, Yulong Sun, Ying Zhang and Tao Li
6. The Impact of the COVID- 19 Pandemic on Firm Performance
Huayu Shen, Mengyao Fu, Hongyu Pan, Zhongfu Yu and Yongquan Chen
7. Which Firm- specific Characteristics Affect the Market Reaction of Chinese Listed Companies to the COVID- 19 Pandemic?
Hao Xiong, Zuofeng Wu, Fei Hou and Jun Zhang
8. COVID-19 Pandemic and Firm-level Cash Holding— Moderating Effect of Goodwill and Goodwill Impairment
Xiuhong Qin, Guoliang Huang, Huayu Shen and Mengyao Fu
9. Is the Chinese Economy Well Positioned to Fight the COVID-19 Pandemic? the Financial Cycle Perspective
Ding Liu, Weihong Sun and Xuan Zhang
10. The Disease Outbreak Channel of Exchange Rate Return Predictability: Evidence from COVID-19
Bernard Njindan Iyke
11. Fear Sentiment, Uncertainty, and Bitcoin Price Dynamics: The Case of COVID-19
Conghui Chen, Lanlan Liu and Ningru Zhao
12. Constructing a Global Fear Index for the COVID-19 Pandemic
Afees A. Salisu and Lateef O. Akanni
13. Accounting Index of COVID-19 Impact on Chinese Industries: A Case Study Using Big Data Portrait Analysis
Pinglin He, Hanlu Niu, Zhe Sun and Tao Li
14. How Does COVID-19 Affect China’s Insurance Market?
Yating Wang, Donghao Zhang, Xiaoquan Wang and Qiuyao Fu
15. Household Financial Decision Making Amidst the COVID-19 Pandemic
Pengpeng Yue, Aslihan Gizem Korkmaz and Haigang Zhou
16. Pandemic, Mobile Payment, and Household Consumption: Micro-Evidence from China
Taixing Liu, Beixiao Pan and Zhichao Yin
17. The Response of the Labor Force Participation Rate to an Epidemic: Evidence from a Cross-Country Analysis
Zhen Yu, Yao Xiao and Yuankun Li
18. Implications of COVID-19 Pandemic on the Global Trade Networks
C. T. Vidya and K. P. Prabheesh
19. COVID-19 and Air Quality: Evidence from China
Wen Ming, Zhengqing Zhou, Hongshan Ai, Huimin Bi and Yuan Zhong
Biography
Yezhou Sha is Associate Professor of Finance at Capital University of Economics and Business. His research has been published in the Economic Modelling, Pacific-basin Finance Journal, and Emerging Markets Finance and Trade.
Susan Sunila Sharma is Senior Lecturer in the Centre for Financial Econometrics & Department of Finance in Deakin Business School. In 2019, the Web of Science Group recognized her with a distinguished title of a highly cited researcher. Moreover, in 2016, she received a “highly cited early to mid- career Australian female researcher” award at the inaugural “Women in Research” citations awards, hosted by the Thomson Reuters IP and Science and the Australian National University (ANU). Google Scholar counts the citation of her work at over 3,700, with an h-index of 29. She is a co-editor of the journal Emerging Markets Finance and Trade, a subject editor of the Journal of International Financial Markets Institutions & Money, and guest editor of multiple issues of Economic Modelling. Her research in finance has employed a wide range of recent developments in financial econometrics. Susan’s research interests are in the areas of panel predictability models, time series econometric models, price discovery, commoity markets, forecasting and energy markets.
