The Impact of Covid-19 Pandemic on the Global Economy: Emphasis on Poverty Alleviation and Economic Growth

Vitenu‐Sackey, Prince Asare; Barfi, Richard

doi:10.18488/journal.29.2021.81.32.43

Cited by 87 publications

(61 citation statements)

References 11 publications

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“…In the first quarter of 2020, China's GDP fell by 6.8% year-on-year, and the GDP of Hubei region fell by 39.2% year-on-year (http://data.stats.gov.cn). Even countries that were not directly affected by the virus have suffered, and continue to suffer, economic damage, particularly low-and middle-income countries [67]. As the pandemic continues, many countries continue to implement blockade measures to protect people's safety.…”

Section: Discussionmentioning

confidence: 99%

Analysis on the Characteristics of Air Pollution in China during the COVID-19 Outbreak

Chen

Huang

et al. 2021

Atmosphere

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The COVID-19 pandemic poses a serious global threat to human health. In China, the government immediately implemented lockdown measures to curb the spread of this virus. These measures severely affected transportation and industrial production across the country, resulting in a significant change in the concentration of air pollutants. In this study, the Euclidean distance method was used to select the most similar meteorological field during the COVID-19 lockdown period. Changes in the concentration of air pollutants in China were analyzed under similar meteorological background conditions. Results indicate that, compared with data from 2015–2019, air quality in China significantly improved; with the exception of ozone (O3), the concentration of major air pollutants declined. Compared with baseline conditions, the reduction of air pollutants in China from 25 January to 22 February 2020 (Period 2) was the most significant. In particular, NO2 decreased by 41.7% in the Yangtze River Delta. In Period 2, the reduction of air pollutants in areas other than Hubei gradually decreased, but the reduction of NO2 in Wuhan reached 61.92%, and the reduction of air pollutants in various regions after February 23 was significantly reduced. By excluding the influence of meteorological factors and calculating the contribution of human activities to atmospheric pollutants by linear fitting, in Period 2 the effect of artificial controls on NO2 in Wuhan attained 30.66%, and reached 48.17% from 23 February to 23 March (Period 3). Results from this investigation provides effective theoretical support for pollution prevention and control in China.

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Section: Discussionmentioning

confidence: 99%

Analysis on the Characteristics of Air Pollution in China during the COVID-19 Outbreak

Chen

Huang

et al. 2021

Atmosphere

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“…McKibbin & Fernando (2020) menyatakan bahwa seluruh negara yang mengalami pandemi COVID-19 akan mengalami penurunan pertumbuhan ekonomi dengan tingkat yang berbeda, bergantung pada kebijakan yang dijalankan dan jumlah penduduk. Perlambatan ekonomi pada masa pandemi COVID-19 utamanya disebabkan oleh perubahan penyaluran dan permintaan akan barang dan jasa karena kebijakan pembatasan aktivitas yang dijalankan (Vitenu-sackey & Barfi, 2021). Chaplyuk et al (2021) menambahkan bahwa di tahun 2020, ekonomi global diprediksi akan terkoreksi hingga -3%, namun akan meningkat kembali sekitar 5,8% di tahun 2021.…”

Section: Dampak Pandemi Covid-19unclassified

“…Hal tersebut disebabkan perbedaan struktur ekonomi setiap wilayah. Wilayah yang ditopang oleh sektor industri yang membutuhkan keterlibatan sosial dan mobilitas tinggi seperti transportasi, pariwisata, dan perdagangan Dampak Pandemi Covid-19 Aeni paling merasakan dampak pandemi (Susilawati et al, 2020;Vitenu-sackey & Barfi, 2021). Pada masa pandemi, kondisi pertumbuhan ekonomi Kabupaten Pati lebih baik dibandingkan Jawa Tengah dan nasional.…”

Section: Dampak Ekonomi Pandemi Covid-19unclassified

Pandemi COVID-19: Dampak Kesehatan, Ekonomi, & Sosial

Aeni

2021

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ENGLISHCOVID-19 Pandemic started from March 2020 affected many aspects. This research aims to describe the impacts of pandemic on health, economic, and social in Pati District. It used both qualitative and quantitative approaches. It used secondary data that were obtained from relevant services and references. Then, the data were analyzed descriptively. This research resulted: (1) the impacts of the COVID-19 pandemic on health can be seen through the number of positive COVID-19 cases, mortality, and reduction in health service coverage. Higher positive COVID-19 cases were found in around the center of government and economic activities; (2) COVID-19 Pandemic has disturbed supply and demand of goods and services. This situation affected the decrease of economic growth. Pati’s economic structure is sustained by agriculture and manufactured that still showed positive growth. Thus, the economic slowdown caused the increase of unemployment, particularly on micro and small enterprises or household industries; (3) the impact of pandemic COVID-19 was represented by the poverty increase. Higher number of poor families was found in the areas having near-poor families and vulnerable ones. INDONESIAPandemi COVID-19 yang terjadi sejak bulan Maret 2020 memengaruhi segala aspek kehidupan. Tujuan penelitian adalah mendeskripsikan dampak pandemi dalam aspek kesehatan, ekonomi, dan kesehatan di Kabupaten Pati. Penelitian menggunakan pendekatan kualitatif dan kuantitatif secara bersama. Data yang digunakan adalah data sekunder yang diperoleh dari instansi maupun referensi yang relevan. Selanjutnya data tersebut diolah secara kualitatif dan kuantitatif. Hasil penelitian adalah (1) Dampak pandemi COVID-19 pada aspek kesehatan adalah jumlah kasus positif dan kematian yang cukup tinggi serta penurunan cakupan sebagian besar layanan kesehatan; kasus positif COVID-19 cukup tinggi terjadi di wilayah yang merupakan pusat pemerintahan atau dekat dengan pusat ekonomi; (2) Pandemi COVID-19 menyebabkan perubahan penawaran dan permintaan barang dan jasa. Kondisi tersebut berdampak terhadap penurunan pertumbuhan ekonomi. Struktur perekonomian Kabupaten Pati ditopang oleh sektor usaha pertanian dan industri pengolahan yang masih menunjukkan pertumbuhan positif selama pandemi. Perlambatan ekonomi tersebut selanjutnya menyebabkan peningkatan pengangguran, terutama pada sektor usaha mikro dan kecil serta industri rumah tangga; (3) Dampak sosial pandemi COVID-19 di Kabupaten Pati terwakili oleh peningkatan kemiskinan, dimana peningkatan kemiskinan lebih tinggi terjadi di wilayah yang yang memiliki jumlah keluarga hampir dan rentan miskin tinggi.

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“…The COVID-19 outbreak's disastrous impact has so far caused massive damages to nations worldwide, with ravaging instances of infected persons, morbidity, unemployment, bankruptcy, business closures, and poverty rates increasing by the day. According to the report of Vitenu-Sackey and Barfi, the number of infected persons reached 72,851,747 in December 2020, while deaths were counted at 1,643,339 [16]. Scholars and researchers were rapidly immersed in scrutinizing the economic effects of the ongoing crisis and rendered diverse analyses of the pandemics' impact on trade linkages [17][18][19][20].…”

Section: Covid-19 Pandemicmentioning

confidence: 99%

Sustaining Trade during COVID-19 Pandemic: Establishing a Conceptual Model Including COVID-19 Impact

2021

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The conceptual research aims to identify antecedents conducive to bilateral trade during the COVID-19 pandemic. Considering the relevance of bilateral trade for foreign policy and economy studies, there is a need for a renewed framework in times of extreme economic instability. As international commerce is essential for improving the country’s economy, we have examined how economic distance, population, trade percentage of GDP, exchange rate, and political changes interconnect and relate to COVID-19, influencing trade flows. This conceptual paper illustrates the likely impact of COVID-19 on international trade by exploring pandemics’ effects on standard trading parameters such as GDP, distance, policy stability, and population. We model the resulting shock as a multifaceted variable reflected in capital underutilization, manufacturing output decline, international trade costs inflation, production costs inflation, decrease in demand for certain services and shift from everyday needs towards activities that exclude the proximity between people, e.g., proclivity towards virtual market products. The sudden decrease in GDP and bilateral trade, as well as FDI, is amplified by further development of pandemics’ long-term consequences. We take COVID-19 to be a technological, financial, and policy shock significantly influencing international trade and economic development and argue that it will have a varying impact on diverse sectors and economies. The paper offers preliminary insight into the pandemic-related economics that are unfolding and deduce recommendations on positive changes in trading policy to fully leverage on arising trading opportunities and point to potential research directions.

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The Impact of Covid-19 Pandemic on the Global Economy: Emphasis on Poverty Alleviation and Economic Growth

Cited by 87 publications

References 11 publications

Analysis on the Characteristics of Air Pollution in China during the COVID-19 Outbreak

Analysis on the Characteristics of Air Pollution in China during the COVID-19 Outbreak

Pandemi COVID-19: Dampak Kesehatan, Ekonomi, & Sosial

Sustaining Trade during COVID-19 Pandemic: Establishing a Conceptual Model Including COVID-19 Impact

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