How the coronavirus crisis is affecting the Korean economy: Evidence from the stock market

South Korea has proven resilient through crises. During the COVID-19 pandemic, Korea has used testing and contact tracing to keep the number of cases per capita far below those in the U.S. and Europe. This paper uses sectoral stock returns to gauge the impact of the pandemic on the Korean economy. T...

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Autor principal:	Willem Thorbecke
Formato:	article
Lenguaje:	EN
Publicado:	Elsevier 2021
Materias:	Korea Coronavirus Stock returns Dual labor market Regional economics. Space in economics HT388
Acceso en línea:	https://doaj.org/article/798de83c92d749f4b263999301afe7a1
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spelling	oai:doaj.org-article:798de83c92d749f4b263999301afe7a12021-12-03T04:01:19ZHow the coronavirus crisis is affecting the Korean economy: Evidence from the stock market2667-111510.1016/j.aglobe.2021.100004https://doaj.org/article/798de83c92d749f4b263999301afe7a12021-01-01T00:00:00Zhttp://www.sciencedirect.com/science/article/pii/S2667111521000049https://doaj.org/toc/2667-1115South Korea has proven resilient through crises. During the COVID-19 pandemic, Korea has used testing and contact tracing to keep the number of cases per capita far below those in the U.S. and Europe. This paper uses sectoral stock returns to gauge the impact of the pandemic on the Korean economy. The results indicate that industrial machinery stocks have doubled in value in the eight months since the crisis hit. Other sectors that benefit individuals hunkered at home such as consumer digital services, software and computer services, leisure goods, and electronic entertainment have also done well. On the other hand, sectors providing services such as travel and leisure, casinos and gambling, and convenience stores have languished. The crisis has benefited sectors producing goods and employing higher-skilled workers and harmed sectors providing services and employing lower-skilled workers. This risks perpetuating disparities that existed in Korea before the pandemic.Willem ThorbeckeElsevierarticleKoreaCoronavirusStock returnsDual labor marketRegional economics. Space in economicsHT388ENAsia and the Global Economy, Vol 1, Iss 1, Pp 100004- (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Korea Coronavirus Stock returns Dual labor market Regional economics. Space in economics HT388
spellingShingle	Korea Coronavirus Stock returns Dual labor market Regional economics. Space in economics HT388 Willem Thorbecke How the coronavirus crisis is affecting the Korean economy: Evidence from the stock market
description	South Korea has proven resilient through crises. During the COVID-19 pandemic, Korea has used testing and contact tracing to keep the number of cases per capita far below those in the U.S. and Europe. This paper uses sectoral stock returns to gauge the impact of the pandemic on the Korean economy. The results indicate that industrial machinery stocks have doubled in value in the eight months since the crisis hit. Other sectors that benefit individuals hunkered at home such as consumer digital services, software and computer services, leisure goods, and electronic entertainment have also done well. On the other hand, sectors providing services such as travel and leisure, casinos and gambling, and convenience stores have languished. The crisis has benefited sectors producing goods and employing higher-skilled workers and harmed sectors providing services and employing lower-skilled workers. This risks perpetuating disparities that existed in Korea before the pandemic.
format	article
author	Willem Thorbecke
author_facet	Willem Thorbecke
author_sort	Willem Thorbecke
title	How the coronavirus crisis is affecting the Korean economy: Evidence from the stock market
title_short	How the coronavirus crisis is affecting the Korean economy: Evidence from the stock market
title_full	How the coronavirus crisis is affecting the Korean economy: Evidence from the stock market
title_fullStr	How the coronavirus crisis is affecting the Korean economy: Evidence from the stock market
title_full_unstemmed	How the coronavirus crisis is affecting the Korean economy: Evidence from the stock market
title_sort	how the coronavirus crisis is affecting the korean economy: evidence from the stock market
publisher	Elsevier
publishDate	2021
url	https://doaj.org/article/798de83c92d749f4b263999301afe7a1
work_keys_str_mv	AT willemthorbecke howthecoronaviruscrisisisaffectingthekoreaneconomyevidencefromthestockmarket
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How the coronavirus crisis is affecting the Korean economy: Evidence from the stock market

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