THE IMPACT OF COVID 19 PANDEMIC ON THE TOURISM AND TRANSPORTATION SECTORS: EVIDENCE FROM BORSA ISTANBUL

İbrahim Halil Uçar and Erkan Alsu
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Erkan Alsu: Gaziantep Universitesi

Ekonomi Maliye Isletme Dergisi, 2025, vol. 8, issue 1, 91-111

Abstract: The Covid-19 pandemic is recognized as one of the most important pandemics of the last century and has led to a global recession and decline, affecting all sectors in different ways. In this study, volatility spillovers between variables are analyzed. In this context, Covid daily case count, volatility spillovers between Borsa Istanbul tourism and transportation indices are examined with the EGARCH model using daily data covering the period 15 March 2020- 31 May 2022. According to the results of the conditional variance equation derived from the EGARCH model, it is determined that there is a volatility spillover from the Covid variable to the tourism and transport indices, but this volatility interaction is not asymmetric and positive and negative shocks do not have any effect on the volatility of these indices.

Keywords: Covid; Tourism; Transportation Index; EGARCH (search for similar items in EconPapers)
JEL-codes: C10 C22 C92 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:gnx:emid43:2025-8-1-1560605

DOI: 10.46737/emid.1560605

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