Multivariate economic analysis of the government policies and COVID-19 on financial sector Online publication date: Fri, 21-Jan-2022
by Monika Mangla; Nonita Sharma; Sourabh Yadav; Vaishali Mehta; Deepti Kakkar; Prabhakar Kandukuri
International Journal of Computer Applications in Technology (IJCAT), Vol. 66, No. 3/4, 2021
Abstract: The sudden pandemic outbreak of COVID-19 has led to disruption in trade, travel and commerce by halting manufacturing, industries, and all other sundry activities. Global markets plummeted, leading to erosion of around US $6 trillion within just one week during February 2020. During the same week, the S&P 500 index alone experienced a loss of more than US $5 trillion in the USA, while other top 10 companies in the S&P 500 suffered a loss of more than US $1.4 trillion. This manuscript performs multivariate analysis of the financial markets during the COVID-19 period and thus correlates its impact on the worldwide economy. An empirical evaluation of the effect of containment policies on financial activity, stock market indices, purchasing manager index and commodity prices are also carried out. The obtained results reveal that the number of lockdown days, fiscal stimulus and overseas travel bans significantly influences the level of economic activity.
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