Is the effect of a health crisis symmetric for physical and digital financial assets? An assessment of gold and bitcoin during the pandemic

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dc.authorid0000-0001-5009-8745
dc.authorid0000-0002-0585-3075
dc.authorid0000-0002-5131-577X
dc.authorscopusid57218585431
dc.authorscopusid58695751900
dc.authorscopusid58696249800
dc.authorwosidGLR-5098-2022
dc.authorwosidCAJ-4841-2022
dc.authorwosidJVY-0465-2024
dc.contributor.authorBadshah, Waqar
dc.contributor.authorMusah, Mohammed
dc.contributor.authorKhan, Asad ul Islam
dc.contributor.editorÖzer, Ercan
dc.contributor.otherYönetim Bilimleri Fakültesi, İktisat Bölümü
dc.date.accessioned2023-11-23T12:47:13Z
dc.date.available2023-11-23T12:47:13Z
dc.date.issued2023
dc.departmentİHÜ, Yönetim Bilimleri Fakültesi, İktisat Bölümü
dc.departmentİHÜ, Lisansüstü Eğitim Enstitüsü, İktisat Ana Bilim Dalı
dc.description.abstractThe emergence of the covid-19 health crisis, in this advanced technological era where connections between markets, nations, and economies have grown stronger than ever before, the shock of the COVID-19 pandemic quickly had an impact on both physical and digital financial assets. The Chinese financial market experienced the first consequences of the covid-19 pandemic, then spilled over to other financial markets, including those for cryptocurrencies and the precious metals. This study examines the impact of the covid-19 pandemic on the volatilities of the dynamics of bitcoin and gold. Both assets share some characteristics, such as online trading platforms, however, gold is a tangible financial asset unlike bitcoin, which is digitally generated without any physical form. This study argues that the similarities and differences between bitcoin and gold play major roles in how the covid19 crisis affected their respective dynamics. Using daily data ranging from 9/22/2014 to 1/ 31/2023 and employing ARMA as the mean equation for GARCH model, the impact of the health crisis (covid-19) is examined on the volatilities of the prices and volumes of bitcoin and gold. Empirical evidence points out that, the pandemic has a symmetric impact on the volatilities of bitcoin and gold price returns, causing them to be more volatile. The impact of the covid-19 observed on the volume returns of the assets, however, is asymmetrical. The empirical results give evidence to the role that the vital differences existing between these assets played during the covid-19 pandemic.
dc.identifier.citationBadshah, W., Musah, M., Khan, A. I. (2023). Is the effect of a health crisis symmetric for physical and digital financial assets? An assessment of gold and bitcoin during the pandemic. PLOS ONE, 18(11), 1-22. https://doi.org/10.1371/journal.pone.0288762
dc.identifier.doi10.1371/journal.pone.0288762
dc.identifier.endpage22
dc.identifier.issn1932-6203
dc.identifier.issue11
dc.identifier.pmid37963128
dc.identifier.scopus2-s2.0-85176783273
dc.identifier.scopusqualityQ1
dc.identifier.startpage1
dc.identifier.urihttps://doi.org/10.1371/journal.pone.0288762
dc.identifier.urihttps://hdl.handle.net/20.500.12154/2453
dc.identifier.volume18
dc.identifier.wosWOS:001124285200023
dc.identifier.wosqualityQ2
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakPubMed
dc.indekslendigikaynakScopus
dc.institutionauthorMusah, Mohammed
dc.institutionauthorKhan, Asad ul Islam
dc.institutionauthorid0000-0002-0585-3075
dc.institutionauthorid0000-0002-5131-577X
dc.language.isoen
dc.publisherPublic Library of Science
dc.relation.ispartofPLOS ONE
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Öğrenci
dc.relation.publicationcategoryÖğrenci
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmz20240905
dc.subjectPandemic
dc.subjectCOVID-19
dc.subjectEmergence
dc.subjectTechnological
dc.subjectGold
dc.subjectBitcoin
dc.titleIs the effect of a health crisis symmetric for physical and digital financial assets? An assessment of gold and bitcoin during the pandemic
dc.typeArticle
dspace.entity.typePublication
relation.isAuthorOfPublication5d56d061-267c-4b33-8b78-b50e651ee5aa
relation.isAuthorOfPublication.latestForDiscovery5d56d061-267c-4b33-8b78-b50e651ee5aa
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