Market Openness and Its Relationship to Connecting Markets Due to COVID-19

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dc.contributor.authorChahuán-Jiménez, Karime
dc.contributor.authorRubilar-Torrealba, Rolando
dc.contributor.authorDe La Fuente-Mella, Hanns
dc.date.accessioned2022-11-30T02:46:16Z
dc.date.available2022-11-30T02:46:16Z
dc.date.issued2021
dc.description.abstractIn this research, statistical models were formulated to study the effect of the health crisis arising from COVID-19 in economic markets. Economic markets experience economic crises irrespective of effects corresponding to financial contagion. This investigation was based on a mixed linear regression model that contains both fixed and random effects for the estimation of parameters and a mixed linear regression model corresponding to the generalisation of a linear model using the incorporation of random deviations and used data on the evolution of the international trade of a group of 42 countries, in order to quantify the effect that COVID-19 has had on their trade relationships and considering the average state of trade relationships before the global pandemic was declared and its subsequent effects. To measure, quantify and model the effect of COVID-19 on trade relationships, three main indicators were used: imports, exports and the sum of imports and exports, using six model specifications for the variation in foreign trade as response variables. The results suggest that trade openness, measured through the trade variable, should be modelled with a mixed model, while imports and exports can be modelled with an ordinary linear regression model. The trade relationship between countries with greater economic openness (using imports and exports as a trade variable) has a higher correlation with the country’s health index and its effect on the financial market through its main trading index; the same is true for country risk. However, regarding the association with OECD membership, the relations are only with importsen_ES
dc.facultadFacultad de Ciencias Económicas y Administrativasen_ES
dc.file.nameChahuan_Mar2021.pdf
dc.identifier.citationChahuán-Jiménez, K.; Rubilar-Torrealba, R.; Fuente-Mella, H.d.l. Market Openness and Its Relationship to Connecting Markets Due to COVID-19. Sustainability 2021, 13, 10964. https://doi.org/10.3390/su131910964en_ES
dc.identifier.doihttps://doi.org/10.3390/su131910964
dc.identifier.urihttp://repositoriobibliotecas.uv.cl/handle/uvscl/7288
dc.languageen
dc.publisherMDPI
dc.rights© 2021 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/).
dc.sourceSustainability
dc.subjectCOVID-19en_ES
dc.subjectAPPLIED ECONOMETRICSen_ES
dc.subjectECONOMIC MARKETSen_ES
dc.subjectSTATISTICAL MODELLINGen_ES
dc.subjectSUSTAINABILITYen_ES
dc.titleMarket Openness and Its Relationship to Connecting Markets Due to COVID-19
dc.typeArticulo
uv.departamentoEscuela de Auditoria

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