Dynamics of Foreign Portfolio Investment and Stock Market Returns During the COVID-19 Pandemic - Evidence From India

Prabheesh Kp (prabheeshkp@gmail.com)
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Prabheesh Kp: Indian Institute of Technology Hyderabad, India

Asian Economics Letters, 2021, vol. 1, issue 2, 1-5

Abstract: This paper examines the causality relation between stock returns and foreign portfolio (FPI) flows in the Indian context during the COVID-19 pandemic. Using daily data and the Toda and Yamamoto Granger causality test, the study finds that unidirectional causality runs from FPI flows to stock returns during the pandemic.

Keywords: covid-19; foreign portfolio investment; stock returns (search for similar items in EconPapers)
JEL-codes: G15 I1 O16 (search for similar items in EconPapers)
Date: 2021
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