Effects of COVID-19 on trade flows: Measuring their impact through government policy responses

Barbero, Javier; Fernández, Juan José De Lucio; Rodríguez‐Crespo, Ernesto

doi:10.1371/journal.pone.0258356

Cited by 58 publications

(49 citation statements)

References 67 publications

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“…The impact of COVID-19 was damaging on all economies, whether developed, less developed or transitioning, as in the case of the V4 countries. The global effect can be detected in the development of major macroeconomic indicators, as well as health and social indicators, around the world (e.g., Vidya and Prabheesh 2020;Anand et al 2020;Barbero et al 2021;Jindřichovská and U gurlu 2021).…”

Section: Conclusion and Discussionmentioning

confidence: 99%

Effect of COVID-19 on International Trade among the Visegrad Countries

Uğurlu

Jindřichovská

2022

JRFM

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The impact of the COVID-19 pandemic has been detrimental toall countries, despite the continuous efforts of governments on all continents to attempt to mitigate its damaging effects. All economic and social indicators have worsened. This study explores the impact of COVID-19 on international trade among the Visegrad Four (V4) countries. We employ data from Eurostat and FRED to explore this influence, using the monthly import and export data for the 2010 M1–2021 M4period. We estimate the trade model for each member country of the V4, exploring their trade relations with other V4 members. We employ a shift dummy and impulse dummy to show the effect of country lockdowns initiating possible structural change. After exploration, we found that the COVID-19 impact was evident in all countries, but not with the same strength. Looking outside the V4 group, we can also see that there are strong trade relations with Germany, which is the strongest European economy. For further exploration, we suggest investigating these outside links to complete the picture.

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Section: Conclusion and Discussionmentioning

confidence: 99%

Effect of COVID-19 on International Trade among the Visegrad Countries

Uğurlu

Jindřichovská

2022

JRFM

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“…Their results revealed that an increase in COVID-19 cases leads to a rise in the export of capital and consumption products among Malaysia and its trading partners. Barbero et al ( 2021 ) scrutinized the effect of COVID-19 on trade based on the state-of-the-art gravity technique and the data of 68 countries over the period of January 2019–October 2020. The empirical findings indicate different aspects.…”

Section: Literature Reviewmentioning

confidence: 99%

Impact of COVID-19 pandemic on exports: new evidence from selected European Union countries and Turkey

Cengiz

Manga

2022

Asia-Pac J Reg Sci

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The COVID-19 pandemic, a new type of coronavirus that the world faced, broke out at the end of 2019 causing numerous impacts on all countries. Particularly the European Union (EU) countries were notably affected by COVID-19 pandemic lockdowns and stringency policies. Furthermore, although Turkey was successful in combating many areas of the COVID-19 pandemic compared to the EU countries, its international trade was affected. This paper empirically investigates the impact of the COVID-19 pandemic on selected EU countries (Bulgaria, Estonia, France, Germany, Greece, Latvia, Lithuania, Luxembourg, Poland, Romania, Slovakia, Slovenia, Spain, Czechia) and Turkey’s exports with monthly panel data analyses over the March 2020–December 2021 period. The findings suggest that the COVID-19 pandemic had negative impacts on exports in the EU and Turkey. For example, a 1% increase in COVID-19 stringency reduced exports by 0.102%, and a 1% increase in total COVID-19 cases caused a decline in exports of 1.620%. Furthermore, the Dumitrescu–Hurlin panel causality test results show a two-way causality relationship between COVID-19 cases and export levels. In addition, unidirectional causality linkage exists from the COVID-19 stringency index. Therefore, causality test results confirm an impact of the COVID-19 pandemic on exports during the stringency measures and lockdowns.

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“…For instance, losses of food production in one sector (e.g., crops, livestock, aquaculture, fisheries) due to geographically localized shocks create challenges not only within the same sector and geographic region, but also across sectors and regions (Cottrell et al 2019 ). Global shocks, such as the COVID-19 pandemic, exacerbate or amplify these effects, although their consequences (some of which are not necessarily negative) are highly variable depending on the degree of interconnectedness (Barbero et al 2021 ; Dudek and Śpiewak 2022 ). Thus, it is crucial to evaluate the influence of these global shocks on the evolution of global interconnectedness.…”

Section: Introductionmentioning

confidence: 99%

Effects of global shocks on the evolution of an interconnected world

Viña

Liu

2022

Ambio

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As the world grows more interconnected through the flows of people, goods, and information, many challenges are becoming more difficult to address since human needs are increasingly being met through global supply chains. Global shocks (e.g., war, economic recession, pandemic) can severely disrupt these interconnections and generate cascading consequences across local to global scales. To comprehensively evaluate these consequences, it is crucial to use integrated frameworks that consider multiple interconnections and flows among coupled human and natural systems. Here we use the framework of metacoupling (human–nature interactions within as well as across adjacent and distant systems) to illustrate the effects of major global shocks on the evolution of global interconnectedness between the early 1900s and the 2010s. Based on these results we make a few actionable recommendations to reduce the negative impacts of an ongoing global shock, the COVID-19 pandemic, to promote global sustainability.

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Effects of COVID-19 on trade flows: Measuring their impact through government policy responses

Cited by 58 publications

References 67 publications

Effect of COVID-19 on International Trade among the Visegrad Countries

Effect of COVID-19 on International Trade among the Visegrad Countries

Impact of COVID-19 pandemic on exports: new evidence from selected European Union countries and Turkey

Effects of global shocks on the evolution of an interconnected world

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