The aim of the paper is to assess changes in mobility in public transport in Poland, as a consequence of the development of the COVID-19 pandemic. We analyse the problem from the country and regional (voivodeships) perspective. The data come from Google COVID19 Community Mobility Reports, the Ministry of Health of Poland, and the Oxford COVID-19 Government Response Tracker. The research covers the period between 2 March and 19 July 2020. The obtained results show that there is negative but insignificant relationship between human mobility changes in public transport and the number of new confirmed COVID-19 cases in Poland. The strength and statistical significance of the correlation varies substantially across voivodeships. As far as the relationship between changes in mobility in public transport and the stringency of Polish government’s anti-COVID-19 policy is concerned, the results confirm a strong, negative and significant correlation between analysed variables at the national and regional level. Moreover, based on one factor variance analysis (ANOVA) and the Tukey’s honest significance test (Tukey’s HSD test) we indicate that there are significant differences observed regarding the changes in mobility in public transport depending on the level of stringency of anti-COVID-19 regulation policy both in Poland and all voivodeships. The results might indicate that the forced lockdown to contain the development of the COVID-19 pandemic has effectively contributed to social distancing in public transport in Poland and that government restrictions, rather than a local epidemic status, induce a greater decrease in mobility.
The recent outbreak of the coronavirus pandemic has made a significant impact on the global financial markets. The aim of this paper is to assess the short-term reaction of the Visegrad countries’ financial markets to the COVID-19 pandemic. The Visegrad Group is a political alliance of four Central European countries, namely Czechia, Hungary, Poland, and Slovakia. The financial assessment is based on the EUR/CZK, EUR/HUF, and EUR/PLN exchange rates and the major blue-chip stock market indices, that is Prague PX, Budapest BUX, Warsaw WIG20, and Bratislava SAX. It is evident that the ongoing pandemic has changed the expectations of the financial market participants about the future value of exchange rates in the Visegrad countries. This study indicates that, as a consequence of COVID-19, higher probability has been attached to the large depreciation of the Czech koruna (CZK), the Hungarian forint (HUF), and the Polish zloty (PLN) than to their large appreciation. Moreover, based on the TGARCH model, the positive and significant correlation between the number of reported COVID-19 cases and the exchange rates has been confirmed, implying that the ongoing pandemic has resulted in the depreciation of the Visegrad currencies. Additionally, the result of the TGARCH model reveals that there is a significant and negative link between the Visegrad stock market indices and the COVID-19 spread.
The outbreak and rapid spread of the COVID-19 pandemic has hit the global financial markets, including the energy sector. Alternative energy belongs to the economy’s key sectors concerning environmental issues and seems to be a full-fledged alternative for fossil-based conventional energy. This paper aims to assess the impact of COVID-19 on the stock market indices related to the alternative and conventional energy sector. We use daily data on the Morgan Stanley Capital International (MSCI) Global Alternative Energy Index, the MSCI All Country World Index (ACWI) Energy Index, and self-developed Average-49 COVID-19 New Cases Index and Average-49 Stringency Index. The research covers the period January–October 2020. The average level of the MSCI Global Alternative Energy Index in COVID-19 year was more than a quarter higher than in 2019 while the MSCI ACWI Energy fell almost one-third in the same period. Based on the Markov-switching model, we show that both the MSCI Global Alternative Energy and the MSCI ACWI Energy are not significantly affected by the epidemic status. The analysed indices decline as the government anti-COVID-19 policy becomes more stringent, but the relationship is statistically significant only in the high-volatility regime. In comparison to the conventional energy index, we reveal that the alternative energy index stays most of its time in the low-volatility regime without being adversely and significantly affected by the COVID-19 related indicators. Our study shows that the alternative energy sector, represented by the MSCI Global Alternative Energy Index, seems to be more resistant to COVID-19 than the conventional energy sector. It might imply that the novel coronavirus pandemic has not depreciated but emphasised the growing concern about climate change and environmental pollution.
The paper aims to identify groups of countries characterised by a similar human mobility reaction to COVID-19 and investigate whether the differences between distinguished clusters result from the stringency of government anti-COVID-19 policy or are linked to another macroeconomic factor. We study how COVID-19 affects human mobility patterns, employing daily data of 124 countries. The analysis is conducted for the first and second waves of the novel coronavirus pandemic separately. We group the countries into four clusters in terms of stringency level of government anti-COVID-19 policy and six mobility categories, using k-means clustering. Moreover, by applying the Kruskal–Wallis test and Wilcoxon rank-sum pairwise comparison test, we assess the existence of significant differences between the distinguished clusters. We confirm that the pandemic has caused significant human mobility changes. The study shows that a more stringent anti-COVID-19 policy is related to the greater decline in mobility. Moreover, we reveal that COVID-19-driven mobility changes are also triggered by other factors not related to the pandemic. We find the Human Development Index (HDI) and its components as driving factors of the magnitude of mobility changes during COVID-19. The greater human mobility reaction to COVID-19 refers to the country groups representing higher HDI levels.
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