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Do Philippine Stocks Catch Coronavirus? Some Econometric Check-Up On Pandemic Data, 2021-2022, Mark Reniel M. Amarila, Luisito C. Abueg
Do Philippine Stocks Catch Coronavirus? Some Econometric Check-Up On Pandemic Data, 2021-2022, Mark Reniel M. Amarila, Luisito C. Abueg
Journal of Economics, Management and Agricultural Development
Using daily data from March 1, 2021 to March 31, 2022, the USD-PHP exchange rate and pandemic-related variables such as the number of cases, vaccinations, and stringency index in relation to the movements of Philippine Stock Exchange index (PSEi) were investigated. The paper views vaccination as an instrument for reducing economic uncertainty, subsequently providing a positive sentiment for investors and stock market. Ordinary least squares, autoregressive distributed lags, and vector autoregression was used to show some dynamics based on time series data. Particularly, there are indications of reported cases being negatively correlated and statistically significant for PSEi. Further, impulse response …