2020
DOI: 10.22617/brf200096
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The Economic Impact of the COVID-19 Outbreak on Developing Asia

Abstract: From the information known at this point, several facts are pertinent. First, it belongs to the same family of coronaviruses that caused the Severe Acute Respiratory Syndrome (SARS) outbreak in 2003 and the Middle East Respiratory Syndrome (MERS) outbreak in 2012. Second, the mortality rate (number of deaths relative to number of cases), which is as yet imprecisely estimated, is probably in the range of 1%-3.4%-significantly lower than 10% for SARS and 34% for MERS (Table 1, first column), but substantially hi… Show more

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Cited by 159 publications
(134 citation statements)
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“…The global pandemic of COVID-19 affected the respective national gross domestic products (GDPs) ranging from 0.1 to 0.4%. However, this pandemic decreased the tourism arrival in many developing Asian economies by 50 to 90% compared to the previous year (9,22). In India, during lockdown, the agricultural sector and many supply chains (distribution, transport hurdles, marketing and processing) were greatly affected (23).…”
Section: Discussionmentioning
confidence: 99%
“…The global pandemic of COVID-19 affected the respective national gross domestic products (GDPs) ranging from 0.1 to 0.4%. However, this pandemic decreased the tourism arrival in many developing Asian economies by 50 to 90% compared to the previous year (9,22). In India, during lockdown, the agricultural sector and many supply chains (distribution, transport hurdles, marketing and processing) were greatly affected (23).…”
Section: Discussionmentioning
confidence: 99%
“…According to the International Labour Organization, the labor and economic crisis induced by the COVID-19 pandemic could lead to a rise in global employment from 5.3 million to 24.7 million. Overall, the global impact has been predicted to be in the range of $77 billion to $347 billion or 0.1% to 0.4% of global GDP [19].…”
Section: Management Of Sars-cov-2 Infectionmentioning
confidence: 99%
“…Declines in tourism and business travel, spillovers of weaker demand to other sectors and economies through trade and production linkages; supply-side disruptions to production and trade (which are distinct from demand-side shocks spilling over through trade and production linkages); and effects on health such as increased disease and mortality as well as shifts in health care spending [8][9][10]. The COVID -19 has affected educational systems worldwide, and it leads to the widespread closures of schools and universities.…”
Section: Introductionmentioning
confidence: 99%