Does the Indian Financial Market Nosedive because of the COVID-19 Outbreak, in Comparison to after Demonetisation and the GST?

• Published in: Emerging markets finance & trade Vol. 56; no. 10; pp. 2162 - 2180
• Main Authors: Mishra, Alok Kumar, Rath, Badri Narayan, Dash, Aruna Kumar
• Format: Journal Article
• Language: English
• Published: Abingdon Routledge 08.08.2020; Taylor & Francis Ltd
• Subjects: Coronavirus; Coronaviruses; COVID-19; exchange rate; FII; GST; India; Securities markets; stock returns; systemic risks

We investigate the impact of COVID-19 on the Indian financial market and compare it with the outcomes of two recent structural changes of the Indian economy: demonetization and implementation of the Goods and Services Tax (GST). Using daily stock return, net foreign institutional investment, and exc...