The impact of COVID-19 on MENA region stock markets

نوع المستند : المقالة الأصلية

المؤلفون

1 Associate Professor of economics, University of Business and Technology

2 Lecturer of Economics, Assuit University

3 Lecturer of Economics, Cairo University

المستخلص

The short term effect of the coronavirus outbreak on leading MENA stock market indices is assessed in this paper. The effects of infectious disease are important, and they have had a direct impact on financial markets around the world. Using panel data, our findings show that stock markets in major affected countries and areas dropped sharply following the virus outbreak. When compared to other nations, MENA region  experienced more negative abnormal returns. Further panel data regression test supports the negative effect of COVID-19 reported death cases on stock indices abnormal returns through an efficient channel by aggregating investors' pessimistic outlook on potential returns and fears of uncertainty.

الكلمات الرئيسية