<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0123-3033</journal-id>
<journal-title><![CDATA[Ingeniería y competitividad]]></journal-title>
<abbrev-journal-title><![CDATA[Ing. compet.]]></abbrev-journal-title>
<issn>0123-3033</issn>
<publisher>
<publisher-name><![CDATA[Facultad de Ingeniería, Universidad del Valle]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0123-30332024000100004</article-id>
<article-id pub-id-type="doi">10.25100/iyc.v26i1.12930</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[Causality and volatility in the Colcap index of the Colombian Stock Exchange as a result of Covid-19 infections and deaths]]></article-title>
<article-title xml:lang="es"><![CDATA[Causalidad y volatilidad en el índice Colcap de la Bolsa de valores de Colombia por contagios y muertes por Covid-19]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Solano-Benavides]]></surname>
<given-names><![CDATA[Elcira]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Alandete-Brochero]]></surname>
<given-names><![CDATA[Nelson]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad del Atlántico Faculty of Economic Sciences ]]></institution>
<addr-line><![CDATA[Barranquilla ]]></addr-line>
<country>Colombia</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>04</month>
<year>2024</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>04</month>
<year>2024</year>
</pub-date>
<volume>26</volume>
<numero>1</numero>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S0123-30332024000100004&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S0123-30332024000100004&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S0123-30332024000100004&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract This article analyses the causality and volatility of the Colcap index of the Colombian Stock Exchange caused by Covid-19 infections and deaths. The methodology is econometric by estimating linear and non- linear Granger causality tests. The test results show that the stock market investors overreacted to COVID- 19 infections and deaths. The non-linear causality test also determined that investors took the evolution of infections in the last three to 10 days and the number of deaths in the last 15 days into account for their investment decision. In contrast, the linear Granger test indicates that they considered the evolution of infections and deaths over the last 11 days.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Este artículo analiza la causalidad y volatilidad del índice Colcap de la Bolsa de Valores de Colombia por contagios y muertes por Covid-19. La metodología es econométrica mediante la estimación de los tests de causalidad de Granger lineal y no lineal. Los resultados obtenidos con los tests muestran que hubo una sobrerreacción de los inversionistas de la Bolsa de valores a los contagios y muertes por COVID-19. Así mismo, el test de causalidad no lineal determinó que los inversionistas tuvieron en cuenta para la decisión de inversión, la evolución de los contagios de los últimos tres a 10 días y del número de muertes los últimos 15 días. En cambio, el test de Granger lineal indica que tuvieron en cuenta la evolución de los contagios y muertes en los últimos 11 días.]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[Non-linear Granger test]]></kwd>
<kwd lng="en"><![CDATA[Linear Granger test]]></kwd>
<kwd lng="en"><![CDATA[Covid-19]]></kwd>
<kwd lng="en"><![CDATA[Volatility]]></kwd>
<kwd lng="en"><![CDATA[Infections]]></kwd>
<kwd lng="es"><![CDATA[Test Granger no lineal]]></kwd>
<kwd lng="es"><![CDATA[Test Granger lineal]]></kwd>
<kwd lng="es"><![CDATA[Covid-19]]></kwd>
<kwd lng="es"><![CDATA[Volatilidad]]></kwd>
<kwd lng="es"><![CDATA[Contagios]]></kwd>
</kwd-group>
</article-meta>
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