We use cookies on this website to give you a better user experience. By continuing to browse the site, you are agreeing to our use of cookies. Learn more

The Global Economic Impact of the COVID-19 Pandemic: The Second Wave and Policy Implications

The Global Economic Impact of the COVID-19 Pandemic: The Second Wave and Policy Implications
Date:
9 September 2021
Authors:
Gyeong Lyeob Cho, Minsuk Kim, Yun Kyung Kim
Tags:
Computabe General Equilibrium, COVID-19, Macroeconomy

Print Article:

This paper examines the macroeconomic impact of the COVID-19 pandemic through the Computable General Equilibrium model. Due to a second wave and a subsequent delay in economic recovery, the pandemic could lead to a permanent shock in capital accumulation and productivity. This implies that the shock may not merely affect the short-term growth rate but also negatively impact the future economic growth path from its pre-pandemic trend. Through simulations, in the mild scenario, countries lose 0.10% to 0.31% of their future economic growth rates; in the severe scenario, they lose 0.21% to 0.69%.

This research was conducted as a part of the project ‘ERIA Research on COVID-19’ at the Economic Research Institute for ASEAN and East Asia (ERIA).

The Global Economic Impact of the COVID-19 Pandemic: The Second Wave and Policy Implications

Search ERIA.org

Latest Multimedia

Indonesia's ASEAN Chairmanship 2023 High-Level Policy Dialogue: ASEAN Digital Community 2045

ERIA Knowledge Lab Discusses Scaling Up Innovation and Digital Technology Ecosystem

Is ASEAN Ready for Electric Vehicles? | ASEAN Insights Podcast

Related Articles

ASEAN, Connectivity, COVID-19, Trade
3 September 2021
Editor(s)/Author(s): Anming Zhang, Xiaoqian Sun, Sebastian Wandelt, Yahua Zhang, Shiteng Su, Ronghua Shen
This paper provides an in-depth description of the coronavirus disease (COVID-19) pandemic and its interactions with air transportation in the[...]
Aviation, Connectivity, COVID-19, healthcare
2 September 2021
Editor(s)/Author(s): Xiaowen Fu, David A. Hensher, Nicole T. T. Chen, Junbiao Su
This study quantifies the effects introduced by the COVID-19 pandemic on air connectivity and passenger travel[...]