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Economies
Special Issues
Commodity Markets’ Reaction to COVID-19 Outbreak
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Commodity Markets’ Reaction to COVID-19 Outbreak

A special issue of Economies (ISSN 2227-7099). This special issue belongs to the section "Macroeconomics, Monetary Economics, and Financial Markets".

Deadline for manuscript submissions: closed (29 February 2024) | Viewed by 14117

Special Issue Editor

Prof. Dr. Ştefan Cristian Gherghina

E-Mail Website
Guest Editor
Department of Finance, Faculty of Finance and Banking, Bucharest University of Economic Studies, 010552 Bucharest, Romania
Interests: corporate finance; corporate governance; quantitative finance; sustainable development
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

The COVID-19 pandemic is a social disaster, and its lethal rapid spread has caused unprecedented economic outrage around the world. The coronavirus crisis also triggered an extraordinary surge in uncertainty, lowered the value of securities, and brought financial markets to their lowest point since the 2008–9 global financial crisis. Additionally, commodity prices worldwide were considerably lower due to declining Chinese demand, with the outbreak harshly impacting production, aviation, and transportation fuel. The pandemic has contributed to a decrease in the demand for oil, which has resulted in lower oil prices and output. On April 20, 2020, the West Texas Intermediate crude oil price fell into the negative region for the first time in history. Furthermore, due to the outbreak affecting major auto and home appliance manufacturing plants, copper demand has decreased, while silver prices have dropped to their lowest level since 2009. However, following the economic domino effect from COVID-19, the price of gold achieved an unprecedented high as central banks decreased interest rates and flooded markets with cash. Furthermore, the monthly rise in food prices from March to April 2020 was larger than any other monthly shift since the 1970s.

This Special Issue will cover a wide range of topics, including, but not limited to:

  • Investigating the risk spillover effect of the COVID-19 pandemic on the energy sector.
  • Exploring the influence of the coronavirus crisis on natural gas prices.
  • Assessing the volatility of oil prices during the COVID-19 pandemic.
  • Researching the effect of COVID-19 on the volatility of precious metals.
  • Analyzing the impact of COVID-19 uncertainty on oil and gold prices.
  • Evaluating the effect of the COVID-19 pandemic on industrial metals’ futures.
  • Exploring the hedge and safe haven features of gold during the COVID-19 pandemic.
  • Examination of the impact of COVID-19 on agricultural commodities.
  • Inspecting the connectedness between oil and agricultural commodity prices during the COVID-19 pandemic.

Dr. Ştefan Cristian Gherghina
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Economies is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1800 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • COVID-19
  • pandemic panic and commodity prices
  • volatility spillovers in commodity markets
  • coronavirus crisis and oil prices
  • COVID-19 and natural gas prices
  • pandemic and the energy sector
  • COVID-19 and gold prices
  • pandemic and the hedge as well as safe haven properties of gold
  • COVID-19 and agricultural commodity markets

Published Papers (4 papers)

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Research

21 pages, 1071 KiB  
Article
The Mediating Effect of Perceived Trust in the Adoption of Cutting-Edge Financial Technology among Digital Natives in the Post-COVID-19 Era
by Udit Chawla, Rajesh Mohnot, Harsh Vikram Singh and Arindam Banerjee
Economies 2023, 11(12), 286; https://doi.org/10.3390/economies11120286 - 22 Nov 2023
Cited by 1 | Viewed by 2256
Abstract
The primary aim of this research is to thoroughly examine the determinants that influence customers’ intention towards embracing FinTech products and services, thereby enriching our understanding of the adoption and utilization trends within the FinTech industry in the aftermath of the COVID-19 pandemic. [...] Read more.
The primary aim of this research is to thoroughly examine the determinants that influence customers’ intention towards embracing FinTech products and services, thereby enriching our understanding of the adoption and utilization trends within the FinTech industry in the aftermath of the COVID-19 pandemic. This is quantitative research in the context of India covering five major tech-savvy cities—Mumbai, Bengaluru, New Delhi, Pune, and Chennai. Using structural equation modeling (SEM), the mediation effect of Perceived Trust was examined in order to see the relationship between the retrieved constructs and their attributes. Predominantly, the data delve into the utilization of financial technology and the prevailing embrace of this transformative innovation by contemporary Indian society. From the findings, it has emerged that the three factors influencing Customer Intention to Adopt FinTech products are “Perceived Security”, “Perceived Risks”, and “Perceived Trust”. The significance of Perceived Security in the realm of defending against cyber risks and safeguarding personal information has been discovered to have a profound effect on individuals’ inclination to embrace FinTech. Likewise, acknowledging the potential risks and uncertainties that come with FinTech has proven to have a favorable impact on the intention to adopt. Notably, the perception of trust, which encompasses aspects such as the credibility of the company and the user-friendly nature of the technology, has been identified as a significant driver towards adoption. Full article
(This article belongs to the Special Issue Commodity Markets’ Reaction to COVID-19 Outbreak)
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15 pages, 809 KiB  
Article
The Impact of COVID-19 on the Volatility of Copper Futures
by Oscar Melo-Vega-Angeles and Bryan Chuquillanqui-Lichardo
Economies 2023, 11(7), 200; https://doi.org/10.3390/economies11070200 - 24 Jul 2023
Viewed by 2916
Abstract
The COVID-19 pandemic has introduced significant uncertainty across various economic sectors, most notably in the industrial sector due to the high volatility in copper futures markets. These markets play a crucial role in the construction, electrical networks, electronic products, and industrial machinery industries. [...] Read more.
The COVID-19 pandemic has introduced significant uncertainty across various economic sectors, most notably in the industrial sector due to the high volatility in copper futures markets. These markets play a crucial role in the construction, electrical networks, electronic products, and industrial machinery industries. Therefore, the aim of this study is to evaluate the impact of the COVID-19 pandemic on the volatility of copper futures returns from 2 January 2018 to 30 December 2022 using an extended ARMA(m,n)–GARCH(p,q) framework. According to the results, the occurrence of the pandemic nearly doubled the long-run equilibrium volatility of returns compared to the values obtained in the pre-pandemic period. Hence, we conclude that the COVID-19 pandemic has a significant influence on the volatility in the copper futures market. Full article
(This article belongs to the Special Issue Commodity Markets’ Reaction to COVID-19 Outbreak)
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17 pages, 325 KiB  
Article
The Impact of COVID-19 Pandemic on Islamic and Conventional Banks’ Profitability
by Sayyed Sadaqat Hussain Shah, Ștefan Cristian Gherghina, Rui Miguel Dantas, Saliha Rafaqat, Anabela Batista Correia and Mário Nuno Mata
Economies 2023, 11(4), 104; https://doi.org/10.3390/economies11040104 - 24 Mar 2023
Cited by 3 | Viewed by 5334
Abstract
The banking sector has a significant impact on a nation’s financial stability and economic development. As one of the fundamental components of the financial sector, banks offer services that are essential for the expansion of the markets. The stability of the financial system [...] Read more.
The banking sector has a significant impact on a nation’s financial stability and economic development. As one of the fundamental components of the financial sector, banks offer services that are essential for the expansion of the markets. The stability of the financial system is significantly impacted by the efficiency of the banking sector. COVID-19 has had a tremendous effect on the economy. This pandemic cannot be disregarded, considering how widespread it has been and how many people it has affected globally. Both society and the global economy have undergone profound change. Hence, it is critical to ascertain how severely the outbreak has impacted the banking system. To assess the potential impact of pandemic, the current study examined conventional and Islamic banking. This study also investigates how COVID-19’s moderating effect influences the banking system. Financial statements from 10 conventional banks and 5 Islamic banks in Pakistan are the sources of this study’s sample data. COVID-19 is a moderator in this study. The empirical estimations by means of the fixed-effects approach suggests that the moderator has a large impact on bank profitability. In addition, COVID-19 appears to have a stronger influence on the Islamic banking system. Full article
(This article belongs to the Special Issue Commodity Markets’ Reaction to COVID-19 Outbreak)
21 pages, 2975 KiB  
Article
Capturing the Effect of the COVID-19 Pandemic Outbreak on the Financial Performance Disparities in the Energy Sector: A Hybrid MCDM-Based Evaluation Approach
by Anas A. Makki and Ammar Y. Alqahtani
Economies 2023, 11(2), 61; https://doi.org/10.3390/economies11020061 - 13 Feb 2023
Cited by 3 | Viewed by 2542
Abstract
The COVID-19 pandemic has impacted the financial performance of companies in different sectors. One of the most important sectors affected is the energy sector. Therefore, this research study aims to conduct a financial performance evaluation of companies in the Saudi energy sector in [...] Read more.
The COVID-19 pandemic has impacted the financial performance of companies in different sectors. One of the most important sectors affected is the energy sector. Therefore, this research study aims to conduct a financial performance evaluation of companies in the Saudi energy sector in 2019, 2020, and 2021. This is to capture and analyze the effect on companies before, during, and post the COVID-19 pandemic, respectively. A hybrid multicriteria decision-making (MCDM) approach is followed to achieve the objective. The financial performance evaluation of energy companies is based on four financial dimensions and 11 performance indicators. Results revealed that energy companies’ efficiency and profitability were relatively the most important dimensions, followed by leverage and liquidity. Furthermore, results revealed the relative importance of the indicators from the most to the least important. Results also revealed the effect of COVID-19 on energy companies’ financial performance, demonstrating the change over the three years. Implications include providing insights for energy companies on the financial dimensions and indicators to be maintained and monitored in the case of pandemics. Furthermore, to assist decision-makers in the energy sector in developing strategies to mitigate financial performance disparities during and post-pandemics. Full article
(This article belongs to the Special Issue Commodity Markets’ Reaction to COVID-19 Outbreak)
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