Assessment by Comparison of COVID-19 and World-wide Islamic Financial Turmoil: Testimony from US Economy


  • Dr. Aijaz Ali Khoso Assistant Professor, University of Sufism and Modern Sciences, Bhitshah, Sindh. Author
  • Dr. Muhammad Shoaib Khan Pathan Assistant Professor, University of Sufism and Modern Sciences, Bhitshah, Sindh. Author
  • Dr. Ali Murad Lajwani Assistant Professor, University of Sufism and Modern Sciences, Bhitshah, Sindh. Author


Coronavirus, monetary exercises, worldwide monetary emergencies, pandemic, downturn, US


The Covid-19 emergency had significant adverse consequences all throughout the planet, influencing numerous economies and demolishing their conditions, which might have prompted an extreme downturn or even a downturn. The quantity of positive cases has risen pointedly lately, and passing’s have additionally topped. The goal of this review is to look at the effect of the worldwide monetary emergency and the COV-19 epidemic on the macro-economic factors of the U.S market. It likewise gives a comprehension in distinct structure to dissect and look at the worldwide monetary emergency and the COV-19 disease in plain and graphic structure. Tables and the normal technique are utilized for investigation. For realistic configurations, graphs were utilized for the last year 2008 and the start of the 2009 worldwide monetary emergency. The outcomes demand that the current COVID-19 pandemic is a more noteworthy weight on monetary action than the worldwide monetary emergency. Moreover, the impact of the crisis on the chances of a recession in the recent epidemic is not exactly on the hour of worldwide monetary emergency.


Ahmed, E., Stern, N., & Xie, C. (2019). From rescue to recovery: towards a post-pandemic sus-tainable transition for China [Working paper]. China Development Research Foundation. 20China.pdf.

Alfaroe, L., Chari, A., Greenland, A. N., & Schott, P. K. (2019). Aggregate and firm-level stock returns during pandemics, in real time. National Bureau of Economic Research.

Baker, S. R., Bloom, N., Davis, S. J., & Terry, S. J. (2020). Covid-induced economic uncertainty.

National Bureau of Economic Research.

Banerdte, W. B., Smrekar, S. E., Banfield, D., Giardini, D., Golombek, M., Johnson, C. L., Lognonne, P., Spiga, A., Spohn, T., Perrin, C., St€ahler, S. C., Antonangeli, D., Asmar, S., Beghein, C., Bowles, N., Bozdag, E., Chi, P., Christensen, U., Clinton, J., … Wieczorek, M. (2019). Initial results from the InSight mission on Mars. Nature Geoscience, 13(3), 183–189.

Barua, S. (2020). Understanding coronanomics: The economic implications of the coronavirus (COVID-19) pandemic., 3566477

Chen, H., Qian, W., & Wen, Q. (2020). The impact of the COVID-19 pandemic on consump-tion: Learning from high frequency transaction data. Available at SSRN 3568574.

Gangopadhyaya, A., & Garrett, A. B. (2020). Unemployment, health insurance, and the COVID-19 recession. Health Insurance, and the COVID-19 Recession. Retrieved April 1, 2020 from,

Gao, X., Ren, Y., & Umar, M. (2020). To what extent does COVID-19 drive stock market vola-tility? A comparison between the U.S. and China. Economic Research-Ekonomska Istrazivanja, 1–21.

Holingue, C., Badillo-Goicoechea, E., Riehm, K. E., Veldhuis, C. B., Thrul, J., Johnson, R. M., Fallin, M. D., Kreuter, F., Stuart, E. A., & Kalb, L. G. (2020). Mental distress during the COVID-19 pandemic among US adults without a pre-existing mental health condition: Findings from American trend panel survey. Preventive Medicine, 139, 106231. https://doi. org/10.1016/j.ypmed.2020.106231

Mirzas, N., Hasnaoui, J. A., Naqvi, B., & Rizvi, S. K. A. (2019a). The impact of human capital efficiency on Latin American mutual funds during Covid-19 outbreak. Swiss Journal of Economics and Statistics, 156(1), 1–7.

Mirzas, N., Naqvi, B., Rahat, B., & Rizvi, S. K. A. (2019b). Price reaction, volatility timing and funds’ performance during Covid-19. Finance Research Letters, 36, 101657. 10.1016/

Rizvi, S. K. A., Mirzas, N., Naqvi, B., & Rahat, B. (2019a). Covid-19 and asset management in EU: A preliminary assessment of performance and investment styles. Journal of Asset Management, 21(4), 281–291.

Rizvi, S. K. A., Yarovaye, L., Mirzas, N., & Naqvi, B. (2019b). The impact of COVID-19 on val-uations of non-financial European firms. Available at SSRN 3705462.

Roye, D., Tripathy, S., Kar, S. K., Sharma, N., Verma, S. K., & Kaushal, V. (2019). Study of knowledge, attitude, anxiety & perceived mental healthcare need in Indian population dur-ing COVID-19 pandemic. Asian Journal of Psychiatry, 51, 102083. ajp.2020.102083

Sharife, A., Aloui, C., & Yarovaye, L. (2021). COVID-19 pandemic, oil prices, stock market, geopolitical risk and policy uncertainty nexus in the US economy: Fresh evidence from the wavelet-based approach. International Review of Financial Analysis, 70, 101496. https://doi. org/10.1016/j.irfa.2020.101496

Su, C.-W., Dai, K., Ullah, S., & Andlib, Z. (2021a). COVID-19 pandemic and unemployment dynamics in European economies. Economic Research-Ekonomska Istrazivanja, 1–13. https://

Su, C.-W., Huang, S.-W., Qin, M., & Umar, M. (2021b). Does crude oil price stimulate eco-nomic policy uncertainty in BRICS? Pacific-Basin Finance Journal, 66, 101519. https://doi. org/10.1016/j.pacfin.2021.101519

Su, C.-W., Khan, K., Tao, R., & Umar, M. (2020a). A review of resource curse burden on infla-tion in Venezuela. Energy, 204, 117925.

Su, C.-W., Qin, M., Tao, R., & Umar, M. (2020b). Financial implications of fourth industrial revolution: Can bitcoin improve prospects of energy investment? Technological Forecasting and Social Change, 158, 120178.

Su, C.-W., Song, Y., & Umar, M. (2020c). Financial aspects of marine economic growth: From the perspective of coastal provinces and regions in China. Ocean & Coastal Management, 204, 105550.

Suu, C.-W., Umar, M., & Khan, Z. (2021d). Does fiscal decentralization and eco-innovation pro-mote renewable energy consumption? Analyzing the role of political risk. Science of the Total Environment, 751, 142220.

Umar, M., Su, C.-W., Rizvi, S. K. A., & Lobont¸, O.-R. (2021a). Driven by fundamentals or exploded by emotions: Detecting bubbles in oil prices. Energy, 231, 120873. 10.1016/

Umar, M., Su, C.-W., Rizvi, S. K. A., & Shao, X.-F. (2021b). Bitcoin: A safe haven asset and a winner amid political and economic uncertainties in the US? Technological Forecasting and Social Change, 167, 120680.

Wenzhie, Z., Suyun, H. U., Lianhua, H. O. U., Tao, Y., Xin, L., Bincheng, G. U. O., & Zhi, Y. (2019). Types and resource potential of continental shale oil in China and its boundary with tight oil. Petroleum Exploration and Development, 47(1), 1–11.

Yarovaye, L., Mirzas, N., Abaidi, J., & Hasnaoui, A. (2020). Human capital efficiency and equity funds’ performance during the COVID-19 pandemic. International Review of Economics & Finance, 71, 584–591.




How to Cite

Assessment by Comparison of COVID-19 and World-wide Islamic Financial Turmoil: Testimony from US Economy. (2021). International Research Journal of Management and Social Sciences, 2(2), 104-118.

Similar Articles

1-10 of 14

You may also start an advanced similarity search for this article.

Most read articles by the same author(s)