Tetteh Joseph Emmanuel, Amoah Anthony, Ofori-Boateng Kenneth, Hughes George
Department of Banking and Finance, Central Business School, Central University, Ghana.
School of Sustainable Development, University of Environment and Sustainable Development, Ghana.
Sci Afr. 2022 Sep;17:e01300. doi: 10.1016/j.sciaf.2022.e01300. Epub 2022 Jul 28.
This paper presents the first comparative study of emerging stock markets' response to the COVID-19 pandemic with evidence from Ghana and Botswana. Using daily time-series data from March 1, 2020, to September 30, 2021, the study estimates parametric, semi-parametric and non-parametric models, and provides evidence to support the negative effects of the COVID-19 pandemic (i.e., the total number of reported COVID-19 cases and deaths) on the stock market performances of Ghana and Botswana. Interestingly, the study shows that the impact of the pandemic on Ghana's stock market is quantitatively greater than the stock market of Botswana. The study calls for fiscal and monetary policies to help firms on the stock market to survive the shock. Going forward, measures aimed at building a robust stock market to withstand such external shocks are critical.
本文首次对新兴股票市场对新冠疫情的反应进行了比较研究，并提供了来自加纳和博茨瓦纳的证据。该研究使用了2020年3月1日至2021年9月30日的每日时间序列数据，估计了参数模型、半参数模型和非参数模型，并提供证据支持新冠疫情（即报告的新冠病例和死亡总数）对加纳和博茨瓦纳股票市场表现的负面影响。有趣的是，该研究表明，疫情对加纳股票市场的影响在数量上大于博茨瓦纳的股票市场。该研究呼吁采取财政和货币政策，帮助股票市场上的公司度过冲击。展望未来，旨在建立一个稳健的股票市场以抵御此类外部冲击的措施至关重要。
