Spatial Relationship between Economic Policy Uncertainty (EPU) and COVID-19 in BRICS Economies
DOI:
https://doi.org/10.4314/dasjr.v11i1.4Keywords:
COVID-19 pandemic; Economic Policy Uncertainty (EPU); BRICS; PWC; Copula; Wavelet Coherency.Abstract
The globe has already experienced numerous significant epidemics and pandemics in the first two decades of the twenty-first century. In theory, applying more complex mathematical and computational models to the development and consequences of epidemics should support policy and decision-making. We examine the impact of the novel coronavirus (COVID-19) pandemic on economic policy uncertainty (EPU) in the BRICS economies, namely, Brazil, Russia, India, China and South Africa. The Partial Wavelet Coherence (PWC) and Copula techniques would be used to examine the spatial relationship between Economic Policy Uncertainty (EPU) and COVID-19. The expected results are that the pandemic has a positive, statistically significant impact on EPU in BRICS economies.
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