| Issue |
E3S Web Conf.
Volume 431, 2023
XI International Scientific and Practical Conference Innovative Technologies in Environmental Science and Education (ITSE-2023)
|
|
|---|---|---|
| Article Number | 07039 | |
| Number of page(s) | 14 | |
| Section | Environmental Economic, Policy and Law | |
| DOI | https://doi.org/10.1051/e3sconf/202343107039 | |
| Published online | 13 October 2023 | |
US and China pharmaceutical sector reaction to the COVID-19 pandemic
1 The National Research University Higher School of Economics, 190121, SoyuzaPechatnikov street, building 16, St. Petersburg, Russian Federation
2 Moscow Witte University, 115494, Moscow, Russian Federation
3 State Corporation of Russian Technologies, 24 Usacheva str., 119048, Moscow, Russia
* Corresponding author: angela-1309.m@yandex.ru
This study investigates the performance of pharmaceutical stocks in China and the United States, considering the changes in composite market index, market volatility and economic policy uncertainty. Volatility has been intensified in both markets. During two periods, before and in COVID time, the Chinese pharmaceutical sector mainly performs in connection with overall markets, and volatility from the EU stock market contributes sector changes during the COVID period, while the US sector exhibits a positive correlation with market volatility during the pandemic. Policy uncertainty is not a significant factor in markets within the COVID window. An asymmetric effect is found in both markets during the pandemic. The study’s findings provide investors, policy-makers' information to adopt effective strategies under different market situations in future public emergencies.
© The Authors, published by EDP Sciences, 2023
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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