The Impact of the SARS-CoV-19 Pandemic on the Global Gross Domestic Product

Abstract

The rapid, unexpected, and large-scale expansion of the SARS-CoV-19 pandemic has led to a global health and economy crisis. However, although the crisis itself is a worldwide phenomenon, there have been considerable differences between respective countries in terms of SARS-CoV-19 morbidities and fatalities as well as the GDP impact. The object of this paper was to study the influence of the SARS-CoV-19 pandemic on global gross domestic product. We analyzed data relating to 176 countries in the 11-month period from February 2020 to December 2020. We employed SARS-CoV-19 morbidity and fatality rates reported by different countries as proxies for the development of the pandemic. The analysis employed in our study was based on moving median and quartiles, Kendall tau-b coefficients, and multi-segment piecewise-linear approximation with Theil–Sen trend lines. In the study, we empirically confirmed and measured the negative impact of the SARS-CoV-19 pandemic on the respective national economies. The relationship between the pandemic and the economy is not uniform and depends on the extent of the pandemic’s development. The more intense the pandemic, the more adaptive the economies of specific countries become.

Conversion of Sars-Cov-2 Threats into Business Opportunities by Polish Outpatient Clinics

“…As indicated above, the total statutory sales revenue of studied the Company has declined in 2020 compared to 2019. This observation is aligned to already indicated by numerous other scholars decline in revenues of companies worldwide (Digital Results, Endeavor and Small Companies Big Business, 2020; Korneta and Rostek, 2021). Hence, if not the considerable change of sales structure of studied Company its financial results would not improve but likewise the majority of companies would decline.…”

“…The first one results from different forms of isolation imposed by the governments, such as shutdowns of events and corporate offices, quarantines, and lockdowns. The second one results from the uncertainty about the situation and its further development, which leads eventually to a considerable decrease in consumers spending (Korneta and Rostek, 2021;Ozili and Arun, 2020). The latter reason relates to a change of consumer behaviours and needs (Yuan et al, 2021).…”

“…The Sars-Cov-2 pandemic has been considered the most significant concurrent public health and economic crises in recent times, resulting in many lives being taken away and sharp declines in the economies of majority of the countries (Klein and Todesco, 2021;Korneta and Rostek, 2021). From a management perspective, it has been already indicated that pandemic caused a major exogenous shock, which has considerably altered the competitive landscape for both small and large companies (Amankwah-Amoah et al, 2021;Wenzel et al, 2020).…”

Prevalence of Sleep Problems Among Chinese Medical Students: A Systematic Review and Meta-Analysis

“…The unique characteristics of regions in the north, such as higher latitudes which leads to different geographical attributes ( 42 ) and work-rest patterns, and limitation of the economic development level ( 43 ), may cause the higher prevalence of low sleep quality ( 44 ). We investigated the latitudes of the cities where these medical colleges are located, from the map website, and use GDP and GDP per capita as variables ( Supplementary Table 2 ) reflecting the economic level of these cities ( 45 , 46 ). The results of the meta-regression showed that latitude and GDP per capita are the sources of heterogeneity between studies, and the correlation analysis shows that prevalence is positively correlated with latitude (CC = 0.929, P <0.001) and negatively correlated with GDP per capita (CC = −0.919, P = 0.003), which consistent with the results of meta-regression.…”

Ensuring the business continuity of production companies in conditions of COVID-19 pandemic in Poland – Applied measures analysis

“…Publications on the topic of modelling and forecasting the development of a pandemic dominate [ 13 ]. There are also available macroeconomic studies on the impact of COVID-19 on the global economy [ 14 ], individual countries, and industries in terms of economic indicators [ 15 ].…”