Impact of covıd-19 on selected African stock markets

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dc.contributor.advisorKoy, Ayben
dc.contributor.authorAbdi Hassan, Fartun
dc.date.accessioned2022-11-01T16:40:55Z
dc.date.available2022-11-01T16:40:55Z
dc.date.issued2021
dc.departmentEnstitüler, Sosyal Bilimler Enstitüsü, Afrika Çalışmaları ve Uluslararası İlişkiler Ana Bilim Dalıen_US
dc.descriptionTez (Yüksek Lisans) -- İstanbul Ticaret Üniversitesi -- Kaynakça var.en_US
dc.description.abstractABSTRACT The study aimed to determine the impact of COVID-19 on the selected African stock markets. The stock indices analyzed in the study are FTSE 30 for South Africa, NGSE 30 for Nigeria, EGX 30 for Egypt and NSE 20 for Kenya. The study used stock indices of the major stock markets in selected countries in a weekly data range from January 2020 to December 2020. The relationship between the stock indices, the number of COVID-19 cases and the number of COVID-19 deaths are analyzed by using ARDL model, VECM and Granger causality tests. Findings showed that the COVID cases only influenced the stock prices of the respective markets at the beginning of the pandemic. However, they have no significant effect on the stock markets in African countries in the long-run or short-run. Keywords: COVID-19, cases, deaths, stock prices, cointegration ÖZET Çalışma, COVID-19'un seçilen ülkelerin Afrika borsaları üzerindeki etkisini belirlemeyi amaçladı. Çalışmada analiz edilen hisse senedi endeksleri Güney Afrika için FTSE 30, Nijerya için NGSE 30, Mısır için EGX 30 ve Kenya için NSE 20'dir. Çalışma, Ocak 2020'den Aralık 2020'ye kadar haftalık bir veri aralığında seçilen ülkelerdeki büyük borsaların hisse senedi endekslerini kullandı. Hisse senedi endeksleri, COVID-19 vakalarının sayısı ve COVID-19 ölümlerinin sayısı arasındaki ilişki, ARDL modeli, VECM ve Granger nedensellik testleri kullanılarak. Bulgular, COVID vakalarının yalnızca salgının başlangıcında ilgili piyasaların hisse senedi fiyatlarını etkilediğini gösterdi. Ancak, Afrika ülkelerindeki borsalar üzerinde uzun vadede veya kısa vadede önemli bir etkisi yoktur. Anahtar kelimeler: COVID-19, vakalar, ölümler, hisse senedi fiyatları, eşbütünleşme iii ACKNOWLEDGEMENT I wish to convey my most profound appreciation to my supervisor Prof. Dr. Ayben Koy. She has offered her endless support throughout my entire process of developing this thesis. She ensured that I followed the guidelines to the letter. She never got tired of my persistent consultation throughout the period. Thank you so much, Dr. Ayben. You are the best. I am also sending my great appreciation to my teachers in the Finance Department at Istanbul Commerce University for their valuable contribution to this thesis. I am gratefully indebted to their support throughout the process of researching and writing this thesis. Finally, I must extend the highest appreciation to my lovely parents, who provided me every opportunity in life to achieve my dreams and realize every step of my goals. Without your endless support, nothing would have been possible for me to achieve. Thank you. iv TABLE OF CONTENTS Abstract . i Özet . ii Acknowledgement . iii List of Tables . vi List of Figures . vii List of Abbreviations . viii INTRODUCTION . 1 1. 1 Evolution of African Stock Markets . 2 1. 2 Aims of the Study . 9 1. 3 Study Rationale . 9 1. 4 Structure of the Study . 10 THEORY AND LITERATURE REVIEW . 11 2. 1 Theory . 11 2. 2 Literature . 13 2. 3 COVID-19 Measures . 17 2. 4 Effect of COVID-19 Measures . 20 2. 5 Empirical Review . 26 2. 6 Summary . 32 METHODOLOGY . 33 3. 1 Introduction . 33 3. 2 Research Design . 33 3. 3 Diagnostic Tests . 33 v 3. 4 Model Specification . 35 3. 5 Data Analysis . 36 EMPIRICAL RESULTS AND ANALYSIS . 39 4. 1 Descriptive Statistics . 39 4. 2 Diagnostic tests . 49 4. 3 ARDL model . 53 4. 4 Cointegration . 56 4. 5 VECM Analysis . 58 CONCLUSION . 60 REFERENCES . 63en_US
dc.identifier.endpage69en_US
dc.identifier.startpage1en_US
dc.identifier.urihttps://katalog.ticaret.edu.tr/e-kaynak/tez/89530.pdf
dc.identifier.urihttps://hdl.handle.net/11467/5712
dc.identifier.yoktezid685713en_US
dc.institutionauthorAbdi Hassan, Fartun
dc.language.isoenen_US
dc.publisherİstanbul Ticaret Üniversitesien_US
dc.relation.publicationcategoryTezen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.titleImpact of covıd-19 on selected African stock marketsen_US
dc.typeMaster Thesisen_US

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