Asia-Pacific Resilience: Evaluating Energy Market, Financial Market and Black Swan Event Policy Responses

Abstract

In response to the onset of any black swan event i.e., COVID-19, the governments of global economies were prompted to implement stringent policies, overwhelming the extent and intensity of past pandemics e.g. Spanish Flu and the 1957-58 influenza outbreak to name the few.  This study is an attempt to analyze the impact of the government stringent policies on oil price, exchange rates, stick returns, and commodity prices in order to combat the mortality rate of COVID-19. Our results illustrate that the commodity prices leave more definite impressions as compared to oil prices and exchange rates, while the stock returns are significantly impacted by government stringent measures. This study further accentuates the crucial role of policy actions for combating the economic effects of black swan event while backing the balanced measures which safeguard public health along with the economic stability.