Market Openness and Its Relationship to Connecting Markets Due to COVID-19

In this research, statistical models were formulated to study the effect of health crisis arising from COVID-19 in economic markets. Economic markets experience crises irrespective effects corresponding financial contagion. This investigation was based on a mixed linear regression model that contains both fixed and random for estimation parameters generalisation using incorporation deviations used data evolution international trade group 42 countries, order quantify has had their relationships considering average state before global pandemic declared its subsequent effects. To measure, relationships, three main indicators used: imports, exports sum imports exports, six specifications variation foreign as response variables. The results suggest openness, measured through variable, should be modelled with model, while can an ordinary model. relationship between countries greater openness (using variable) higher correlation country’s index market trading index; same is true country risk. However, regarding association OECD membership, relations are only imports.