Spillover of COVID-19: Impact on the Global Economy

Ozili, Peterson K; Arun, Thankom

doi:10.2139/ssrn.3562570

Cited by 966 publications

(880 citation statements)

References 10 publications

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“…Several markets reacted to the pandemic and a number of industries were affected from the COVID-19 shock (Ozili and Arun, 2020). The global demand for air travel, including travel in and out of Africa, dropped significantly and the resulting loss of revenue was estimated at US$113bn according to the International Air Transport Association (IATA) estimates.…”

Section: Socioeconomic Impact: Understanding Market Reactions In Africamentioning

confidence: 99%

COVID-19 in Africa: Socioeconomic Impact, Policy Response and Opportunities

Ozili¹

2020

SSRN Journal

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The COVID-19 or coronavirus pandemic which has affected the global economy has also affected the African economy through spillovers to African countries. Many African countries have taken bold quarantine and lockdown measures to control the spread of COVID-19 although this has come at a cost such as the collapse of health systems and a painful economic crisis or recession. A coordinated and bold response by African authorities is needed. First, public funds should be provided to improve the capacity of health systems in African countries. Second, financial support should be provided to individuals, entrepreneurs and corporations to help them cope with the adverse effect of the coronavirus crisis. Third, employers should be granted incentives to preserve employment during the crisis to avoid mass layoff of workers. Finally, the Central bank in African countries should provide liquidity and credit support as well as asset purchase programs to prevent credit and liquidity crunch in domestic financial markets. JEL code: G21, G28, I11, I18

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Section: Socioeconomic Impact: Understanding Market Reactions In Africamentioning

confidence: 99%

COVID-19 in Africa: Socioeconomic Impact, Policy Response and Opportunities

Ozili¹

2020

SSRN Journal

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“…9. Business continuity and workplace public health measures: Business continuity is an important domain in the societal response for COVID-19, as public health measures have negative spill over effects on the economy [33] . MOH as the grassroots health manager had to take the leadership role according to the government circulars and guidelines to restore the economy.…”

Section: Resultsmentioning

confidence: 99%

Role of MOH as a grassroots public health manager in preparedness and response for COVID-19 pandemic in Sri Lanka

Adikari¹,

Pathirathna²,

Kumarawansa³

et al. 2020

AIMS Public Health

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Pandemic transmission of COVID-19 virus warranted activation of public health responses in all countries. Public health unit system of Sri Lanka (also known as the Medical Officer of Health unit system) managed by a medical doctor with special training in public health, the Medical officer of Health (MOH), with a team of grassroots field staff who are well aware of the community and supported by a network of infrastructure. The aim of the study was to describe the managerial role of the MOH as a grassroots public health manager in the preparedness and response for COVID-19 pandemic. The research team studied the key documents communicated to MOH by the national authorities. The study revealed, national level authorities used the MOH to implement COVID-19 control and preventive decisions through their technical and managerial directives. MOH unit earned trustworthiness in the community due to their deep-rooted ground level operations. Further, MOH system possess deep understanding and extensive connectivity with the community. Therefore, implementation of rigid prevention and control measures was well facilitated within the assigned geographical public health unit area.

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“…Existing literature found diverse results in these regards. Ozili and Arun (2020) have conducted an empirical study on the effect of social distancing policy that was adopted to prevent the spread of the Corona Virus, based on four continents: North America, Africa, Asia, and Europe. The study found that 30 days of social distancing policy or lockdown hurts the economy through its negative impact on stock prices.…”

Section: Literature Reviewmentioning

confidence: 99%

“…week from 24 th to 28 th February (Ozili and Arun, 2020). The market value of Standard & Poor (S&P) 500 indexes declined to 30% since the Covid-19 outbreak.…”

mentioning

confidence: 99%

The Outbreak of COVID-19 Pandemic and Its Impact on Stock Market Volatility: Evidence from a Worst-affected Economy

Bora

Basistha

2020

Preprint

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The outbreak of COVID-19 has affected the entire global financial market in an unprecedented way. Due to the disruptions that emerged in the global market; the financial market of India also reacted to the pandemic and witnessed sharp volatility. Given the COVID-19 situation, this paper empirically investigates the impact of COVID-19 on the Indian stock market. Using daily closing prices of indices such as Nifty and Sensex, this study examines the volatility of these indices over the period 3rd September 2019 to 10th July 2020. Further, the study has attempted to make a comparative analysis of the return of the stock market in pre-COVID-19 and during the COVID-19 situation. GARCH model is used to capture the volatility of the indices. Findings reveal that the stock market in India has experienced volatility during the pandemic period. While comparing the results with that of the pre-COVID-19 period, we find that return on the indices is higher in the pre-COVID-19 period than during COVID-19. The return of both the stock market reached the bottom line during the first lockdown period, which is from24th March to 6th April.

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Spillover of COVID-19: Impact on the Global Economy

Cited by 966 publications

References 10 publications

COVID-19 in Africa: Socioeconomic Impact, Policy Response and Opportunities

COVID-19 in Africa: Socioeconomic Impact, Policy Response and Opportunities

Role of MOH as a grassroots public health manager in preparedness and response for COVID-19 pandemic in Sri Lanka

The Outbreak of COVID-19 Pandemic and Its Impact on Stock Market Volatility: Evidence from a Worst-affected Economy

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