Research Article
Stock Market Reaction to Government Stimulus Packages: Evidence from Indonesia, Malaysia, Philippines, Singapore, and Thailand
@INPROCEEDINGS{10.4108/eai.27-7-2021.2316874, author={Firstyan Nathan Sakke and Buddi Wibowo}, title={Stock Market Reaction to Government Stimulus Packages: Evidence from Indonesia, Malaysia, Philippines, Singapore, and Thailand}, proceedings={Proceedings of the 4th International Conference on Economics, Business and Economic Education Science, ICE-BEES 2021, 27-28 July 2021, Semarang, Indonesia}, publisher={EAI}, proceedings_a={ICE-BEES}, year={2022}, month={3}, keywords={covid-19 coronavirus stock market government stimulus package event study}, doi={10.4108/eai.27-7-2021.2316874} }- Firstyan Nathan Sakke
Buddi Wibowo
Year: 2022
Stock Market Reaction to Government Stimulus Packages: Evidence from Indonesia, Malaysia, Philippines, Singapore, and Thailand
ICE-BEES
EAI
DOI: 10.4108/eai.27-7-2021.2316874
Abstract
COVID-19 is an unprecedented event and had a negative effect on the stock market around the world. In order to lessen the effect, the government took action with economic stimulus packages. This study examines how the stock market responded to every stimulus package offered by the Government in Indonesia, Malaysia, Philippines, Singapore, and Thailand. The method used in this study is event study, we used 7-day cumulative abnormal return to measure the market’s response to the stimulus packages. Interestingly, The result shows that the market in Indonesia, Malaysia, Philippines, and Singapore in general reacted negatively while Thailand’s market reacted positively to the stimulus packages.
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