Impact of COVID-19 pandemic on the energy markets

Shaikh, Imlak

doi:10.1007/s10644-021-09320-0

Cited by 63 publications

(47 citation statements)

References 75 publications

(64 reference statements)

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“…The need for further and rapid action to limit the increase in uncertainty in the post-COVID-19 era, as well as the need to control the resulting high transition risks in the green recovery, along with avoiding physical and liability risks in terms of firm financial status, has forced the discussion with respect to the role that government could play in the transition to a green economy (Sartzetakis 2020 ; Shaikh 2021 ). Since the green production and green recovery-oriented transition will carry high costs, these transition costs will diminish firms’ profit maximization targets.…”

Section: Theoretical Discussion and Econometric Specificationsmentioning

confidence: 99%

Fiscal policy benefits and green recovery of firms: an experimental exploration of Chinese listed firms in post-Covid-19

Zhang

2021

Econ Change Restruct

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In the wake of the COVID-19 pandemic, fiscal policy is an important tool to facilitate green recovery of the economy. This paper uses the low-energy-intensive incentive support policy implemented by the Chinese government as a trial and explores the impact of fiscal policy on the green recovery of firms. Using Chinese listed-firm data from 2019Q1 to 2021Q1, we use the difference-in-differences method to estimate policy effects, leading to several findings. First, our fundamental results show that the government's low-energy-intensive support policy can significantly improve low-energy-intensive firm performance more than that of high-energy-consuming firms, with respect to return on assets, return on equity and Tobin’s Q. Second, regarding the mechanisms involved, our estimation results indicate that the low-energy-intensive support policy works by alleviating financial constraints to improve firm performance. Third, our empirical findings indicate that low-energy-intensive support policy can increase current ratio, liquidity and cash flow, resulting in improved firm financial resources. Finally, the fiscal support policy reduces management and financial costs, thus improving firm performance. Our findings recommend adoption of well-designed fiscal policies in regions where green economic recovery is needed.

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Section: Theoretical Discussion and Econometric Specificationsmentioning

confidence: 99%

Fiscal policy benefits and green recovery of firms: an experimental exploration of Chinese listed firms in post-Covid-19

Zhang

2021

Econ Change Restruct

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“…The third type of common methods for assessing the impact of the pandemic is the econometric model. Using econometric models, Aruga et al [ 26 ] examined the impacts of COVID-19 on energy consumption in India, Shaikh [ 27 ] revealed the effects of the COVID-19 on energy markets, and Iqbal et al [ 28 ] assessed the impacts of the pandemic on energy consumption and carbon emissions. The econometric model can reflect the historical trend of the economy and the schedule of economic impact, but it is constrained by the nature of past economic relations and cannot predict possible changes in economic events or activities.…”

Section: Literature Reviewmentioning

confidence: 99%

The Impacts of COVID-19 on China’s Economy and Energy in the Context of Trade Protectionism

Feng

2021

IJERPH

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In the current context of rising trade protectionism, deeply understanding the impacts of COVID-19 on economy and energy has important practical significance for China to cope with external shocks in an uncertain environment and enhance economic resilience. By constructing an integrated economic and energy input-output model including the COVID-19 shock, this paper assesses the impacts of COVID-19 on China’s macro-economy and energy consumption in the context of trade protectionism. The results are shown as follows. First, in the context of protectionism, the outbreak of COVID-19 in China would cause a 2.2–3.09% drop in China’s GDP and a 1.56–2.48% drop in energy consumption, while adverse spillovers from global spread of COVID-19 would reduce its GDP by 2.27–3.28% and energy consumption by 2.48–3.49%. Second, the negative impacts of domestic outbreak on China’s construction, non-metallic mineral products, and services would be on average 1.29% higher than those on other industries, while the impacts of global spread of COVID-19 on export-oriented industries such as textiles and wearing apparel would be on average 1.23% higher than other industries. Third, the effects of two wave of the pandemic on China’s fossil energy consumption would be on average 1.44% and 0.93% higher than non-fossil energy consumption, respectively.

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“…In analyses related to the economic and financial impact of COVID-19, a strand of research on the impact of COVID-19 on the energy market has emerged. Shaikh [40] models the volatility of energy markets and shows the impact of different phases of the pandemic on these markets. He shows that information about the number of deaths during the pandemic negatively affects the stock and energy futures markets.…”

Section: Literature Reviewmentioning

confidence: 99%

Decline in Share Prices of Energy and Fuel Companies on the Warsaw Stock Exchange as a Reaction to the COVID-19 Pandemic

Bieszk‐Stolorz

Markowicz

2021

Energies

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Many factors influence the prices of energy commodities and the value of energy and fuel companies. Among them there are the following factors: economic, social, environmental and political, and recently also the COVID-19 pandemic. The aim of the paper is to examine what the probability and intensity of a decrease in the prices of shares of energy and fuel companies listed on the Warsaw Stock Exchange (Poland) was during the first wave of the pandemic in the first quarter of 2020. The study used the survival analysis methods: the Kaplan-Meier estimator, the test of equality of duration curves and the Cox non-proportional hazards model. The analysis showed that the probability and intensity of price decline of energy and fuel companies in the initial period was the same as that of other companies. The differences become apparent only after 50 days from the established maximum of their value. The risk of price declines in energy and fuel companies increased significantly. This situation was related both to a temporary reduction in demand for energy and fuels, pandemic restrictions introduced in individual countries and the behaviour of stock market investors.

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Impact of COVID-19 pandemic on the energy markets

Cited by 63 publications

References 75 publications

Fiscal policy benefits and green recovery of firms: an experimental exploration of Chinese listed firms in post-Covid-19

Fiscal policy benefits and green recovery of firms: an experimental exploration of Chinese listed firms in post-Covid-19

The Impacts of COVID-19 on China’s Economy and Energy in the Context of Trade Protectionism

Decline in Share Prices of Energy and Fuel Companies on the Warsaw Stock Exchange as a Reaction to the COVID-19 Pandemic

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