Determining the COVID-19 effects on spillover between oil market and stock exchange: a global perspective analysis.

This paper investigates volatility spillovers between the global crude oil market and the stock markets of the global oil stock markets (Russian, Canada, China, Kuwait, and the USA) pre and after the COVID-19 pandemic. We use wavelet Granger causality methods to study the volatility spillovers between global oil stock markets, mainly from January 1, 2019, to March 31, 2021. Our Results (1) shows that WTI and Brent oil prices had a negative mean return before COVID-19 but a positive mean return during the pandemic spread. Other Results (2) find the positive, significantly lowest, and highest frequency during the COVID-19 outbreak for all selected countries. The results also show that the link between oil WTI & Brent prices and stock markets return in the lowest (33-66 days) and highest frequency range (4-16) before the Covid-19 epidemic, especially in the first quarter of 2020. Before the COVID-19 period, the Russian oil stock market is seriously prejudiced with oil prices on a modest scale, but not after the pandemic's start. This study also perceives direction opposite between the COVID-19 period. The Canadian and United States America oil and stock markets influence the lowest scale in the previous COVID-19 sample for the U.S. market. Moreover, this paper exposed that oil marketing highest oil futures in their portfolios than stock shares for all times. We found that oil price shocks had a more significant impact on the stock markets of the United States and Canada than on the stock markets of other countries.

Improving Public Health and Governance in COVID-19 Response: A Strategic Public Procurement Perspective.

Good governance is the basis of dealing with major emergencies and protecting public health. It has become a major issue of the central government to construct a scientific procurement and supply system of emergency supplies. This article constructs the analytical framework of strategic procurement and expounds the realization mechanism of strategic procurement under an emergency situation to reflect China's procurement practice in COVID-19 response and improve public health and governance. Using case study, semi-structured interviews, and the Nvivo text analysis, this study found that emphasizing the strategic function of securing the public health,the top status of MSG, cross-sector procurement team, strong procurement and supply integration, comprehensive and in-depth procurement synergy mechanism are the successful experiences of China's emergency procurement. However, due to the temporary nature of the emergency procurement mechanism, strategic procurement planning, procurement management specialization, and procurement supply integration still need to be improved. The findings of this study further suggest that to improve public health and governance, it is pivotal to reconstruct the government procurement law to make it compatible with the emergency procurement and transform the government procurement system into a strategic procurement in a consistent and coherent way.