Beschreibung:
This study examines how the COVID-19 pandemic influences the interdependence of Asian stock markets from the initial outbreak to the Delta and Omicron variants, utilizing the Diebold and Yilmaz (2009, 2012, 2014) spillover index and network. Empirical results show that there is no permanent recipient or transmitter in Asia since the role switches dynamically. Though China is where the pandemic initially breaks out, it is not a shock contributor but a receiver. In addition, emerging markets illustrate a significant effect on regional spillover. This study provides references for market participants including governments, investors, and international organizations