This study investigates the impact of coronavirus disease 2019 (COVID-19) on economic development of China by measuring the HP financial index as an alternative variable of the digital economy. This study shows that economy of China developed further with the dissemination of COVID-19. Furthermore, the digital economy increased the level of economic development more prominently at the onset of COVID-19 pandemic. Moreover, an analysis of regional heterogeneity reveals that the eastern region maintained economic stability through its digital economy during COVID-19, while the central region improved its digital economy during COVID-19 pandemic. Although the economically underdeveloped western region has not suffered too seriously from COVID-19 pandemic, considering the sustained impact of disease and the uncertainty of its transmission speed, the region should vigorously develop its digital economy to manage public risk.

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The economic recession caused by the restrictions on the spread of the Coronavirus disrupted the economic life of many countries. The primary purpose of the paper is to measure the impacts of intra-regional trade and investment on the green recovery of five Central Asian economies over 2010–2021 through employing annual data and the panel co-integration approach. The results confirmed that the degree of green trade openness positively and significantly affects the green recovery. The estimated coefficient of direct foreign investment is negative. The patent coefficient is not statistically significant, and the official exchange rate has a positive effect. Financial development has a positive and significant coefficient. The paper has several policy implications, such as enhancing green FDI (Foreign Direct Investment), supporting green innovation, and promoting green trade liberalism for scholars and policymakers.

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