Impact of the COVID-19 Pandemic on Economic Sentiment: A Cross-Country Study

Hongyuan Zhang, Yibing Ding and Jing Li

Emerging Markets Finance and Trade, 2021, vol. 57, issue 6, 1603-1612

Abstract: This paper empirically analyzes the impact of the COVID-19 pandemic on economic sentiment by constructing an econometric model using monthly data from 36 countries from December 2019 to October 2020. The results of this study show: (1) After the outbreak of the COVID-19 pandemic, economic sentiment fluctuated greatly, and even turned pessimistic. (2) It has a significant negative impact on economic sentiment. (3) It, however, has a substantial positive impact on consumer confidence, a major negative impact on industrial confidence, and no significant impact on services confidence.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:mes:emfitr:v:57:y:2021:i:6:p:1603-1612

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DOI: 10.1080/1540496X.2021.1897005

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