Economics at your fingertips  

The Causal Nexus of Consumer and Business Confidence Indexes in Early Pandemic Period: Evidence from OECD Countries

Inna Bielova (), Jaroslav Halík () and Lyudmila Ryabushka ()
Additional contact information
Inna Bielova: Department of Finance, Banking and Insurance, Sumy State University, 40000 Sumy, Ukraine
Jaroslav Halík: Department of International Business, Metropolitan University Prague, 1000 Prague, Czech Republic
Lyudmila Ryabushka: Department of Finance, Banking and Insurance, Sumy State University, 40000 Sumy, Ukraine

JRFM, 2021, vol. 14, issue 7, 1-14

Abstract: The COVID-19 pandemic has been shown dire consequences for the global economy, not only in the past and present but also in the future. These consequences are not only humanitarian but also financial and economic. This article raises the question of whether the state of the health system is a factor that determines the direction of changes in consumer and business sentiment during the COVID-19 or whether other factors are more significant. The goal is to find out whether there is real progress in the national health system of a particular country or a regression and on this base to answer the question: What is more important for the expectations of the population and industry during the spread of the pandemic; the dynamics of the development of the health system or other factors? To assess the dynamics of the development of the health care system in different countries, we used the annual data on individual health indicators of the OECD countries for 2006–2019. There were identified countries with dynamic development and a slowing/deteriorating health system. Based on Granger’s approach in EViews, we used the Augmented Dickey–Fuller test and admit that health care systems are not a determining factor in consumer and business sentiment during a pandemic, i.e., only economic factors. The research contributes to the developed COVID-19 research by examining the impact of the changes in the mutual influence of Confidence indexes and macro indicators during the pandemic.

Keywords: panel data; COVID-19; consumer confidence index; business confidence index; Granger causality test; taxonomic development coefficient (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link) (application/pdf) (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

JRFM is currently edited by Ms. Scarlett Liu

More articles in JRFM from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().

Page updated 2021-11-24
Handle: RePEc:gam:jjrfmx:v:14:y:2021:i:7:p:311-:d:590012