COVID-19 crisis and risk spillovers to developing economies: evidence from AfricaCOVID-19 crisis and risk spillovers to developing economies: evidence from Africa Peer-Reviewed Journal Publication Δημοσίευση σε Περιοδικό με Κριτές 2024-02-262022enThis study provides new evidence on how risk spillovers occur from the United States to developing economies in Africa during the COVID-19 pandemic. The results show that downside risk exposures of African markets, financial firms and banks particularly increased during Phase I (30 January to 30 April 2020). The nature and magnitude of downside risk exposures of African financial markets were similar to those of the United States. Our results also reveal that the United States is a net transmitter of risk spillovers while Nigeria, South Africa, Egypt and Morocco are net recipients. Our conclusions offer guidance to risk managers, policymakers and investors.http://creativecommons.org/licenses/by/4.0/Journal of International Development344898–918Akhtaruzzaman_et_al_J. Int. Dev._34(4)_2022.pdfChania [Greece]Library of TUC2024-02-26application/pdf1.9 MBfree Akhtaruzzaman Md Benkraiem, Ramzi Boubaker, Sabri, 1974- Zopounidis Konstantinos Ζοπουνιδης Κωνσταντινος Wiley Africa COVID-19 Developing economies Risk spillovers Spectral risk measure Value at risk