Dynamic Quantile Impact of COVID-19 Pandemic on the Stock Markets in African Countries: Evidence from Rolling Window Analysis

Gouane Feudjio Cedric

doi:doi:10.11648/j.ajere.20220702.13

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Dynamic Quantile Impact of COVID-19 Pandemic on the Stock Markets in African Countries: Evidence from Rolling Window Analysis

Gouane Feudjio Cedric

Published in American Journal of Environmental and Resource Economics (Volume 7, Issue 2)

Received: 19 May 2022 Accepted: 11 June 2022 Published: 27 June 2022

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Abstract

A few studies have been conducted to present the impact that COVID-19 has had on the cost of mobile markets. The objective was to use rolling quantile and quantile on quantile strategies to report the quantile elements between COVID 19 and stock markets using daily data of COVID-19 cases, COVID-19 deaths and stock market ranging from 1st March 2020 to July 31, 2020 to estimate the relative effects of the COVID-19 pandemic on stock market performance in these countries. Quantile cointegration demonstrate that inventory costs are installed with COVID-19 cases, while QQRs show a weak positive relationship at upper quantiles of inventory costs, and a strong negative consequence is observed at lower quantiles of inventory costs. Overall, our posterior estimates show that in relative terms, stock market performance in Africa has reduced significantly during COVID-19. We view that, during our example period, there is basically no chance that the COVID-19 pandemic will significantly affect stock exchange execution in Africa. The experimental results demonstrated that the relapse coefficients of the quantile of financial exchanges changed with COVID-19 cases over the long term and were generally huge for countries without guarantees (5 countries among the 8 countries); furthermore, the results showed that COVID-19 cases can influence the stock market in certain quantiles. Our discoveries add to the conversation and examination on the monetary effect of the COVID-19 pandemic by giving exact proof that the pandemic has limiting consequences for financial exchange execution in African economies. A quantile-on-quantile survey found that the impacts of COVID-19 on market actions differed across quantiles and were heterogeneous and dynamic.

Published in	American Journal of Environmental and Resource Economics (Volume 7, Issue 2)
DOI	10.11648/j.ajere.20220702.13
Page(s)	60-67
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Quantile Impact, Stock Markets, COVID-19, Quantile-on-Quantile Regression, Rolling Window

References

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APA Style

Gouane Feudjio Cedric. (2022). Dynamic Quantile Impact of COVID-19 Pandemic on the Stock Markets in African Countries: Evidence from Rolling Window Analysis. American Journal of Environmental and Resource Economics, 7(2), 60-67. https://doi.org/10.11648/j.ajere.20220702.13

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Gouane Feudjio Cedric. Dynamic Quantile Impact of COVID-19 Pandemic on the Stock Markets in African Countries: Evidence from Rolling Window Analysis. Am. J. Environ. Resour. Econ. 2022, 7(2), 60-67. doi: 10.11648/j.ajere.20220702.13

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AMA Style

Gouane Feudjio Cedric. Dynamic Quantile Impact of COVID-19 Pandemic on the Stock Markets in African Countries: Evidence from Rolling Window Analysis. Am J Environ Resour Econ. 2022;7(2):60-67. doi: 10.11648/j.ajere.20220702.13

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@article{10.11648/j.ajere.20220702.13,
  author = {Gouane Feudjio Cedric},
  title = {Dynamic Quantile Impact of COVID-19 Pandemic on the Stock Markets in African Countries: Evidence from Rolling Window Analysis},
  journal = {American Journal of Environmental and Resource Economics},
  volume = {7},
  number = {2},
  pages = {60-67},
  doi = {10.11648/j.ajere.20220702.13},
  url = {https://doi.org/10.11648/j.ajere.20220702.13},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ajere.20220702.13},
  abstract = {A few studies have been conducted to present the impact that COVID-19 has had on the cost of mobile markets. The objective was to use rolling quantile and quantile on quantile strategies to report the quantile elements between COVID 19 and stock markets using daily data of COVID-19 cases, COVID-19 deaths and stock market ranging from 1st March 2020 to July 31, 2020 to estimate the relative effects of the COVID-19 pandemic on stock market performance in these countries. Quantile cointegration demonstrate that inventory costs are installed with COVID-19 cases, while QQRs show a weak positive relationship at upper quantiles of inventory costs, and a strong negative consequence is observed at lower quantiles of inventory costs. Overall, our posterior estimates show that in relative terms, stock market performance in Africa has reduced significantly during COVID-19. We view that, during our example period, there is basically no chance that the COVID-19 pandemic will significantly affect stock exchange execution in Africa. The experimental results demonstrated that the relapse coefficients of the quantile of financial exchanges changed with COVID-19 cases over the long term and were generally huge for countries without guarantees (5 countries among the 8 countries); furthermore, the results showed that COVID-19 cases can influence the stock market in certain quantiles. Our discoveries add to the conversation and examination on the monetary effect of the COVID-19 pandemic by giving exact proof that the pandemic has limiting consequences for financial exchange execution in African economies. A quantile-on-quantile survey found that the impacts of COVID-19 on market actions differed across quantiles and were heterogeneous and dynamic.},
 year = {2022}
}

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TY  - JOUR
T1  - Dynamic Quantile Impact of COVID-19 Pandemic on the Stock Markets in African Countries: Evidence from Rolling Window Analysis
AU  - Gouane Feudjio Cedric
Y1  - 2022/06/27
PY  - 2022
N1  - https://doi.org/10.11648/j.ajere.20220702.13
DO  - 10.11648/j.ajere.20220702.13
T2  - American Journal of Environmental and Resource Economics
JF  - American Journal of Environmental and Resource Economics
JO  - American Journal of Environmental and Resource Economics
SP  - 60
EP  - 67
PB  - Science Publishing Group
SN  - 2578-787X
UR  - https://doi.org/10.11648/j.ajere.20220702.13
AB  - A few studies have been conducted to present the impact that COVID-19 has had on the cost of mobile markets. The objective was to use rolling quantile and quantile on quantile strategies to report the quantile elements between COVID 19 and stock markets using daily data of COVID-19 cases, COVID-19 deaths and stock market ranging from 1st March 2020 to July 31, 2020 to estimate the relative effects of the COVID-19 pandemic on stock market performance in these countries. Quantile cointegration demonstrate that inventory costs are installed with COVID-19 cases, while QQRs show a weak positive relationship at upper quantiles of inventory costs, and a strong negative consequence is observed at lower quantiles of inventory costs. Overall, our posterior estimates show that in relative terms, stock market performance in Africa has reduced significantly during COVID-19. We view that, during our example period, there is basically no chance that the COVID-19 pandemic will significantly affect stock exchange execution in Africa. The experimental results demonstrated that the relapse coefficients of the quantile of financial exchanges changed with COVID-19 cases over the long term and were generally huge for countries without guarantees (5 countries among the 8 countries); furthermore, the results showed that COVID-19 cases can influence the stock market in certain quantiles. Our discoveries add to the conversation and examination on the monetary effect of the COVID-19 pandemic by giving exact proof that the pandemic has limiting consequences for financial exchange execution in African economies. A quantile-on-quantile survey found that the impacts of COVID-19 on market actions differed across quantiles and were heterogeneous and dynamic.
VL  - 7
IS  - 2
ER  -

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Author Information

Gouane Feudjio Cedric

Business Administration School, Hunan University, Changsha, China

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Gouane Feudjio Cedric. (2022). Dynamic Quantile Impact of COVID-19 Pandemic on the Stock Markets in African Countries: Evidence from Rolling Window Analysis. American Journal of Environmental and Resource Economics, 7(2), 60-67. https://doi.org/10.11648/j.ajere.20220702.13

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ACS Style

Gouane Feudjio Cedric. Dynamic Quantile Impact of COVID-19 Pandemic on the Stock Markets in African Countries: Evidence from Rolling Window Analysis. Am. J. Environ. Resour. Econ. 2022, 7(2), 60-67. doi: 10.11648/j.ajere.20220702.13

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AMA Style

Gouane Feudjio Cedric. Dynamic Quantile Impact of COVID-19 Pandemic on the Stock Markets in African Countries: Evidence from Rolling Window Analysis. Am J Environ Resour Econ. 2022;7(2):60-67. doi: 10.11648/j.ajere.20220702.13

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@article{10.11648/j.ajere.20220702.13,
  author = {Gouane Feudjio Cedric},
  title = {Dynamic Quantile Impact of COVID-19 Pandemic on the Stock Markets in African Countries: Evidence from Rolling Window Analysis},
  journal = {American Journal of Environmental and Resource Economics},
  volume = {7},
  number = {2},
  pages = {60-67},
  doi = {10.11648/j.ajere.20220702.13},
  url = {https://doi.org/10.11648/j.ajere.20220702.13},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ajere.20220702.13},
  abstract = {A few studies have been conducted to present the impact that COVID-19 has had on the cost of mobile markets. The objective was to use rolling quantile and quantile on quantile strategies to report the quantile elements between COVID 19 and stock markets using daily data of COVID-19 cases, COVID-19 deaths and stock market ranging from 1st March 2020 to July 31, 2020 to estimate the relative effects of the COVID-19 pandemic on stock market performance in these countries. Quantile cointegration demonstrate that inventory costs are installed with COVID-19 cases, while QQRs show a weak positive relationship at upper quantiles of inventory costs, and a strong negative consequence is observed at lower quantiles of inventory costs. Overall, our posterior estimates show that in relative terms, stock market performance in Africa has reduced significantly during COVID-19. We view that, during our example period, there is basically no chance that the COVID-19 pandemic will significantly affect stock exchange execution in Africa. The experimental results demonstrated that the relapse coefficients of the quantile of financial exchanges changed with COVID-19 cases over the long term and were generally huge for countries without guarantees (5 countries among the 8 countries); furthermore, the results showed that COVID-19 cases can influence the stock market in certain quantiles. Our discoveries add to the conversation and examination on the monetary effect of the COVID-19 pandemic by giving exact proof that the pandemic has limiting consequences for financial exchange execution in African economies. A quantile-on-quantile survey found that the impacts of COVID-19 on market actions differed across quantiles and were heterogeneous and dynamic.},
 year = {2022}
}

Copy | Download

TY  - JOUR
T1  - Dynamic Quantile Impact of COVID-19 Pandemic on the Stock Markets in African Countries: Evidence from Rolling Window Analysis
AU  - Gouane Feudjio Cedric
Y1  - 2022/06/27
PY  - 2022
N1  - https://doi.org/10.11648/j.ajere.20220702.13
DO  - 10.11648/j.ajere.20220702.13
T2  - American Journal of Environmental and Resource Economics
JF  - American Journal of Environmental and Resource Economics
JO  - American Journal of Environmental and Resource Economics
SP  - 60
EP  - 67
PB  - Science Publishing Group
SN  - 2578-787X
UR  - https://doi.org/10.11648/j.ajere.20220702.13
AB  - A few studies have been conducted to present the impact that COVID-19 has had on the cost of mobile markets. The objective was to use rolling quantile and quantile on quantile strategies to report the quantile elements between COVID 19 and stock markets using daily data of COVID-19 cases, COVID-19 deaths and stock market ranging from 1st March 2020 to July 31, 2020 to estimate the relative effects of the COVID-19 pandemic on stock market performance in these countries. Quantile cointegration demonstrate that inventory costs are installed with COVID-19 cases, while QQRs show a weak positive relationship at upper quantiles of inventory costs, and a strong negative consequence is observed at lower quantiles of inventory costs. Overall, our posterior estimates show that in relative terms, stock market performance in Africa has reduced significantly during COVID-19. We view that, during our example period, there is basically no chance that the COVID-19 pandemic will significantly affect stock exchange execution in Africa. The experimental results demonstrated that the relapse coefficients of the quantile of financial exchanges changed with COVID-19 cases over the long term and were generally huge for countries without guarantees (5 countries among the 8 countries); furthermore, the results showed that COVID-19 cases can influence the stock market in certain quantiles. Our discoveries add to the conversation and examination on the monetary effect of the COVID-19 pandemic by giving exact proof that the pandemic has limiting consequences for financial exchange execution in African economies. A quantile-on-quantile survey found that the impacts of COVID-19 on market actions differed across quantiles and were heterogeneous and dynamic.
VL  - 7
IS  - 2
ER  -

Copy | Download