DEAL WITH THE FALLOUT ECONOMIC DISORDER IN SOUTH ASIAN COUNTRIES FROM COVID-19
PDF

Keywords

COVID-19
Pandemic effects
Policy Responses
South Asia
Macroeconomic Indicators

How to Cite

Baig, U., Darukhanawalla, B. H., & Khan, Z. S. (2020). DEAL WITH THE FALLOUT ECONOMIC DISORDER IN SOUTH ASIAN COUNTRIES FROM COVID-19. Journal of Social Sciences and Humanities, 59(2), 117–134. Retrieved from https://www.jsshuok.com/oj/index.php/jssh/article/view/416

Abstract

The prime objective of this study is to discuss the economic impact of the COVID-19 crisis concerning Pakistan and globally across South Asian developing countries. It also demonstrates those economic indicators through which the economic performance of the countries is influenced considering the prospective global economic costs of COVID-19 under different scenarios. The study systematically reviewed the literature on historical pandemic crises and the most recent Covid-19 fallout economic disorder in South Asian countries. Considering the history of human civilization, there are varied instances of severe epidemics that are caused by numerous viruses. It is observed that the prevailing outbreak of COVID-19 has eventually affected large scale manufacturing, service sectors and arose supply side constraint to an extent. On the contrary, GDP and consumption declined sharply. Furthermore, sudden loss of service sector jobs and the rise in food prices have created an economic crisis for developing countries of South Asia.  The study attempts to discuss the policy responses given by the World Bank, International Monetary Fund, Asian Development Bank, The State Bank of Pakistan, and the Ministry of finance, Pakistan encountered due to the deteriorating international environment, fiscal stress, and difficulties in financial liquidity markets and provides relevant policies for the better prospect of Pakistan's economy after comparing it with other South Asian countries affected by this pandemic vulnerabilities. 

PDF

References

Afelt, Aneta, Roger Frutos, and Christian Devaux. "Bats, coronaviruses, and deforestation: Toward the emergence of novel infectious diseases?." Frontiers in microbiology 9 (2018): 702.

Allocati, N., A. G. Petrucci, P. Di Giovanni, M. Masulli, C. Di Ilio, and V. De Laurenzi. "Bat–man disease transmission: zoonotic pathogens from wildlife reservoirs to human populations." Cell death discovery 2, no. 1 (2016): 1-8.

Asian Development Bank, What Drives Innovation in Asia? (2020)

Backer, Jantien A., Don Klinkenberg, and Jacco Wallinga. "Incubation period of 2019 novel coronavirus (2019-nCoV) infections among travellers from Wuhan, China, 20–28 January 2020." Eurosurveillance 25, no. 5 (2020): 2000062.

Barro, Robert J., Jose F. Ursua, and Joanna Weng. "The coronavirus and the Great Influenza epidemic: Lessons from the “Spanish Flu” for the coronavirus’ potential effects on mortality and economic activity." NBER Working Paper 26866 (2020).

Boissay, Frederic, and Phurichai Rungcharoenkitkul. Macroeconomic effects of Covid-19: an early review. No. 7. Bank for International Settlements, 2020.

Bremer, Scott, Paul Schneider, and Bruce Glavovic. "Climate change and amplified representations of natural hazards in institutional cultures." In Oxford Research Encyclopedia of Natural Hazard Science. 2019.

Broadstock, David C., and Dayong Zhang. "Social-media and intraday stock returns: The pricing power of sentiment." Finance Research Letters 30 (2019): 116-123.

Chakraborty, Indranil, and Prasenjit Maity. "COVID-19 outbreak: Migration, effects on society, global environment and prevention." Science of the Total Environment (2020): 138882.

Chen, Qianying, Andrew Filardo, Dong He, and Feng Zhu. "Financial crisis, US unconventional monetary policy and international spillovers." Journal of International Money and Finance 67 (2016): 62-81.

Coutts, Andrew, Jason Beringer, and Nigel Tapper. "Changing urban climate and CO2 emissions: implications for the development of policies for sustainable cities." Urban Policy and Research 28, no. 1 (2010): 27-47.

Fan, Yi, Kai Zhao, Zheng-Li Shi, and Peng Zhou. "Bat coronaviruses in China." Viruses 11, no. 3 (2019): 210.

Gates, Bill. "Responding to Covid-19—a once-in-a-century pandemic?." New England Journal of Medicine 382, no. 18 (2020): 1677-1679.

Gormsen, Niels Joachim, and Ralph SJ Koijen. "Coronavirus: Impact on stock prices and growth expectations." University of Chicago, Becker Friedman Institute for Economics Working Paper 2020-22 (2020).

International Monetary Fund, IMF COVID-19 Response—A New Short-Term Liquidity Line to Enhance The Adequacy Of The Global Financial Safety Net. Decision No. 15420-(13/61), (2020).

International Monetary Fund, the World Economic Outlook, April 2020: The Great Lockdown, (2020).

Loayza, Norman V., and Steven Pennings. "Macroeconomic policy in the time of COVID-19: A primer for developing countries." (2020).

McKibbin, Warwick J., and Roshen Fernando. "The global macroeconomic impacts of COVID-19: Seven scenarios." (2020).

Ministry of Finance Pakistan, Monthly Performance, April 2020, Economic Adviser's Wing, (2020).

Over, Mead. "The macroeconomic impact of HIV/AIDS in sub-Saharan Africa." World Bank AFTPN Working Paper 3 (1992).

Palese, Peter. "Influenza: old and new threats." Nature medicine 10, no. 12 (2004): S82-S87.

Patterson, K. David, and Gerald F. Pyle. "The geography and mortality of the 1918 influenza pandemic." Bulletin of the History of Medicine 65, no. 1 (1991): 4-21.

Hui, David S., and Malik Peiris. "Severe acute respiratory syndrome and other emerging severe respiratory viral infections." Respirology (Carlton, Vic.) 24, no. 5 (2019): 410.

Summers, Lawrence H., and Lant Pritchett. "Wealthier is healthier." J Human Resources 31, no. 4 (1996): 841-868.

PRS Group. "International country risk guide methodology." URL: http://www. prsgroup. com/wp-content/uploads/2012/11/icrgmethodology. pdf (accessed November 24, 2018) (2012).

Reid, Ann H., and Jeffery K. Taubenberger. "There” and Back Again." Laboratory investigation 79, no. 2 (1999): 95.

Robalino, David A., Albertus Voetberg, and Oscar Picazo. "The macroeconomic impacts of AIDS in Kenya estimating optimal reduction targets for the HIV/AIDS incidence rate." Journal of Policy Modeling 24, no. 2 (2002): 195-218.

Robalino, David A., Carol Jenkins, and El Karim Maroufi. The risks and macroeconomic impact of HIV/AIDS in the Middle East and North Africa: Why waiting to intervene can be costly. The World Bank, 2002.

United Nations Department for Economic and Social Affairs, (2020). World economic situation and prospects 2020. 978-92-1-109181-6

Upadhaya, Bedanand, Chaminda Wijethilake, Pawan Adhikari, Kelum Jayasinghe, and Thankom Arun. "COVID-19 policy responses: reflections on governmental financial resilience in South Asia." Journal of Public Budgeting, Accounting & Financial Management (2020).

Zhang, Dayong, Min Hu, and Qiang Ji. "Financial markets under the global pandemic of COVID-19." Finance Research Letters (2020)

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

Copyright (c) 2020 Umair Baig, Batool Huzaifah Darukhanawalla, Zeba Shariff Khan

Metrics

Metrics Loading ...