Pandemics and the Asia-Pacific Islamic Stocks
Afees Salisu () and
Asian Economics Letters, 2021, vol. 1, issue 1, 1-5
In this paper, we examine the potential of the Asia-Pacific Islamic stock market to serve as a good hedge against uncertainty due to pandemics and epidemics (UPE). Relying on a new dataset for UPE, we find evidence in favour of the hedging potential of the Asia-Pacific Islamic stocks against UPE albeit with lower hedging effectiveness during the COVID-19 pandemic. Further, results show improved out-of-sample forecasts of stock returns when using the UPE predictor.
Keywords: islamic stocks; conventional stocks; pandemics; hedging; predictability (search for similar items in EconPapers)
JEL-codes: G15 G17 I1 (search for similar items in EconPapers)
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Asian Economics Letters is currently edited by Chun-Ping Chang (Shih Chien University, Taiwan) and Professor Chien-Chiang Lee (Nanchang University, China)
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