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Title:Vpliv pandemije covida-19 na finančno stabilnost
Authors:Goričan, Nataša (Author)
Romih, Dejan (Mentor) More about this mentor... New window
Files:.pdf VS_Gorican_Natasa_2020.pdf (1,59 MB)
MD5: CCE078645F7B37DA10275068AE7506C0
 
Language:Slovenian
Work type:Diploma project paper (mb13)
Typology:2.11 - Undergraduate Thesis
Organization:EPF - Faculty of Business and Economics
Abstract:Novi koronavirus SARS-CoV-2 se je nenadno pojavil in pretresel svetovno prebivalstvo. Covid-19 je bil marca 2020 razglašen za globalno pandemijo. Gre za virus, katerega najpogostejši simptomi so vročina, utrujenost in suh kašelj. V hujših primerih se razvijejo težave z dihanjem, večina okuženih pa okreva brez bolnišničnega zdravljenja. Virus se prenaša kapljično, okužimo se lahko tudi ob stiku z onesnaženimi površinami. Zaradi hitrega širjenja virusa med ljudmi po svetu so bile vlade primorane sprejeti stroge ukrepe, kot so uporaba mask, karantena, samoizolacija, šolanje in delo od doma, odsvetujeta pa se tudi zbiranje in druženje večjega števila ljudi. Vsi ti strogi ukrepi so bili sprejeti z namenom zajezitve širjenja virusa med prebivalstvom. Nenadna situacija je zelo pretresla svetovno gospodarstvo, saj so se podjetja tako rekoč čez noč zapirala oziroma so začela poslovati z manjšim obsegom ljudi, kar je privedlo do množičnih odpuščanj. Tako so morale vlade sprejeti tudi ukrepe, s pomočjo katerih so pomagale prebivalcem preživeti težke čase. Zaradi pandemije covida-19 so močne posledice utrpeli letalstvo, turizem, avtomobilska industrija ter storitve. Pandemija covida-19 vpliva tudi na finančne posrednike, finančno infrastrukturo in finančne trge. V času pandemije velik pomen pripisujemo tudi digitalizaciji, saj lahko varno in učinkovito delujemo na daljavo, torej brez osebnega stika ter posledično brez nevarnosti za okužbo. Vrednosti delnic na borzah so strmo padle, prav tako obveznice. Vrednosti indeksov Dow Jones in S&P 500 sta na primer padli za več kot 25 %. Vpliv pandemije covida-19 na finančno stabilnost lahko razložimo tudi s pomočjo indeksov stresa, ki so namenjeni merjenju trenutnega stanja nestabilnosti v finančnem sistemu. Tako smo s pomočjo indeksa NEW CISS za evrsko območje in ZDA ugotovili, da se je vrednost najprej povečala, kar pomeni, da se je povečal sistemski finančni stres. S pomočjo indeksa VIX in VSTOXX smo ugotovili, da je volatilnost v času pandemije covida-19 naraščala, kar pomeni, da je bilo tudi tveganje večje. Od velike finančne krize naprej predstavlja pandemija covida-19 zagotovo največji šok za gospodarstvo evrskega območja in ZDA. Problem, s katerim se soočamo, je, da pandemija covida-19 še ni končana, prav tako še niso iznašli cepiva proti virusu. Vsi ti dejavniki nas puščajo v negotovem položaju, saj pravzaprav ne vemo, kako se bodo stvari razpletle. V delu diplomskega projekta smo ugotovili, da pandemija covida-19 negativno vpliva na finančno stabilnost v evrskem območju in ZDA ter da sta ECB in Fed sprejela različne ukrepe za preprečitev finančne nestabilnosti.
Keywords:covid-19, finančna stabilnost, finančni sistem, pandemija, SARS-CoV-2.
Year of publishing:2020
Publisher:[N. Goričan]
Source:Maribor
UDC:336
COBISS_ID:33562627 New window
NUK URN:URN:SI:UM:DK:FAZJWFZX
Views:607
Downloads:255
Metadata:XML RDF-CHPDL DC-XML DC-RDF
Categories:EPF
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Licences

License:CC BY-NC-ND 4.0, Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International
Link:http://creativecommons.org/licenses/by-nc-nd/4.0/
Description:The most restrictive Creative Commons license. This only allows people to download and share the work for no commercial gain and for no other purposes.
Licensing start date:01.09.2020

Secondary language

Language:English
Title:The impact of the covid-19 pandemic on financial stability
Abstract:The new coronavirus SARS-CoV-2 suddenly appeared and shocked the world population. Covid-19 was declared a global pandemic in March 2020. The most common symptoms are fever, fatigue, a dry cough and in severe cases, patients develop breathing problems. Most patients recover without hospital treatment. The rapid spread of the virus in the global population has forced governments to impose strict measures aiming to curb infection, such as wearing face masks, working from home, quarantining, self-isolating and banning gatherings in large numbers. Throughout the pandemic, the significance of digitalization has been realized, which allows safe and effective remote working without personal contact and consequently without the risk of infection. However, this sudden global pandemic has shocked the world economy, with businesses closing almost overnight or only being able to service a reduced number of customers. Governments, therefore, have also introduced measures to help overcome the financial difficulties. The covid-19 pandemic has consequences for tourism, the automotive industry and services, financial intermediaries, the financial infrastructure and financial markets. Stock prices on the stock exchanges and bonds fell sharply. For example, the value of the Dow Jones and S&P 500 fell more than 25%. The impact of the covid-19 pandemic on financial stability can also be interpreted from the stress index, which measures the instability in the financial system. Using the New CISS index for the euro area and the USA, we found that the value first increased, which means that systemic financial stress increased. From the VIX and VSTOXX indices, we found that volatility increased during the covid-19 pandemic, which means that the risk also increased. The covid-19 pandemic has been the greatest shock to the euro economy and the USA since the financial crisis. Further, the covid-19 pandemic is not over and no vaccine against the virus has yet been developed. All these factors leave the global society in a precarious position without knowledge of how things will unfold. In this study, we found that the covid-19 pandemic has impacted negatively on financial stability in the euro area and the USA although the European Central Bank and the Federal Reserve System have taken various measures to prevent financial instability.
Keywords:covid-19, financial stability, financial system, pandemic, SARS-CoV-2.


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