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Appraisal of Global Economic Outlook in the time of COVID-19

dc.contributor.authorAbyaya Neopane
dc.contributor.authorSwarnim Waglé
dc.date.accessioned2020-08-17T02:15:56Z
dc.date.available2020-08-17T02:15:56Z
dc.date.issued2020-06-30
dc.identifier.urihttp://hdl.handle.net/11540/12209
dc.description.abstractTowards the end of 2019, the global economy appeared to be on an optimistic path of expansion, financial markets were bullish, and trade and political tensions were predictable. The onslaught of COVID-19 in early 2020, has abruptly cast a dark shadow of uncertainty through a concerted health, economic and humanitarian crisis playing out synchronously across the world. As countries have tried to ‘flatten the curve’ through lockdowns and social distancing guidelines, these measures have restricted the flow of goods, capital and labor, disrupted global supply chains, and resulted in losses of jobs and income, defaults and bankruptcies. Global efforts to flatten the ‘infection curve’ has triggered a macroeconomic ‘recession curve’. The IFIs have projected a contraction of the global economy ranging between 3.3 percent and 5.2 percent, which is likely to worsen under more pessimistic scenarios. Cross border flows such as trade, capital flows and remittances also are expected to shrink in 2020. Likewise, logistics restrictions have prompted multinational firms to either diversify supplies over efficiency gains or turn inwards. Tourist arrivals is estimated to fall by 60 to 80 percent in 2020, translating to a decline in international tourism receipts (exports) of USD 80 billion globally. Nevertheless, countries are trying to carve safe corridors or ‘bubbles’ where groups of countries that have tamed the spread of coronavirus would be allowed to travel only among themselves as tourists or even temporary migrants. Furthermore, consumers tend to buy more essential goods and postpone conspicuous consumption in uncertain times: worldwide spending on tourism has seen a fall of over 50 percent. Likewise, lockdowns have prompted adoption of digital and low-touch activities. Some countries stand out for having tackled COVID-19 through widespread testing and contact tracing, early preparedness; harnessing of technology, often a result of sustained public investments in health infrastructure and leadership that believes in accountability.
dc.languageEnglish
dc.publisherInstitute for Integrated Development Studies
dc.titleAppraisal of Global Economic Outlook in the time of COVID-19
dc.typeReports
dc.subject.expertAged Health
dc.subject.expertQuality of Health Care
dc.subject.expertPublic Health
dc.subject.expertPartnerships in Health Reform
dc.subject.expertHealth Systems
dc.subject.expertDevelopment projects
dc.subject.expertPhysical infrastructure
dc.subject.expertSoft infrastructure
dc.subject.expertInfrastructure finance
dc.subject.expertInfrastructure bonds
dc.subject.expertPandemic
dc.subject.expertVaccination
dc.subject.expertWorld Health Organization
dc.subject.expertQuality of Health Care
dc.subject.expertPartnerships in Health Reform
dc.subject.expertHealth
dc.subject.expertHealth Standards
dc.subject.expertHealth Care Cost Control
dc.subject.expertHealth Care Access
dc.subject.expertHealth Risk
dc.subject.expertHealth Issues
dc.subject.expertEnvironmental Health Hazards
dc.subject.expertEducation, Health and Social Protection
dc.subject.expertUrbanization
dc.subject.expertUrban Services
dc.subject.expertUrban Planning
dc.subject.expertUrban Conditions
dc.subject.expertSanitary facilities
dc.subject.expertHealth facilities
dc.subject.expertHygiene
dc.subject.expertWaste disposal
dc.subject.expertHealth hazards
dc.subject.expertPublic health
dc.subject.expertSocial Aspects Of Poverty
dc.subject.expertPrivate Healthcare
dc.subject.expertMacroeconomic
dc.subject.expertMacroeconomic Analysis
dc.subject.expertMacroeconomic Framework
dc.subject.expertMacroeconomic Models
dc.subject.expertMacroeconomic Performance
dc.subject.expertMacroeconomic Planning
dc.subject.expertMacroeconomic Policies
dc.subject.expertMacroeconomic Reform
dc.subject.expertMacroeconomic Stabilization
dc.subject.expertFinancial crisis
dc.subject.adbMedical Economics
dc.subject.adbDisease Control
dc.subject.adbOccupational Hygiene
dc.subject.adbMedical Services
dc.subject.adbHealth Costs
dc.subject.adbSanitation
dc.subject.adbDiseases
dc.subject.adbWater Quality
dc.subject.adbRespiratory Diseases
dc.subject.adbHealth Indicators
dc.subject.adbDisadvantaged Groups
dc.subject.adbSocial condition
dc.subject.adbHealth Care Services
dc.subject.adbHealth Standards
dc.subject.adbHealth Service Management
dc.subject.adbHealth Costs
dc.subject.adbMedical Statistics
dc.subject.adbLockdown
dc.subject.adbUrban Population
dc.subject.adbTraditional Medicine
dc.subject.adbMedical Statistics
dc.subject.adbDrug Policy
dc.subject.adbPreventive Medicine
dc.subject.adbMedical Economics
dc.subject.adbDisease Control
dc.subject.adbSanitation
dc.subject.adbHealth Hazards
dc.subject.adbDisadvantaged Groups
dc.subject.adbSocial condition
dc.subject.adbEconomic dependence
dc.subject.adbEconomic assistance
dc.subject.adbRecession
dc.subject.adbInternational monetary relations
dc.subject.adbInternational monetary relations
dc.subject.adbInternational trade
dc.subject.adbNational accounting
dc.subject.adbMarket
dc.subject.adbTravel restriction
dc.subject.adbMigration
dc.subject.adbStay at home
dc.subject.adbBailout
dc.subject.adbInterest rate
dc.subject.adbTourism
dc.subject.naturalHospices
dc.subject.naturalDelivery of health care
dc.subject.naturalPrevention of disease
dc.subject.naturalHealth status indicators
dc.subject.naturalSanitation services
dc.subject.naturalCost of medical care
dc.subject.naturalHealth status indicators
dc.subject.naturalSanitation services
dc.subject.naturalSickness
dc.subject.naturalIllness
dc.subject.naturalPrevention of disease
dc.subject.naturalHealth status indicators
dc.subject.naturalCost and standard of living
dc.subject.naturaldisabilities
dc.subject.naturalNutrition and state
dc.subject.naturalFood policy
dc.subject.naturalNutrition policy
dc.subject.naturalCovid
dc.subject.naturalHealth status indicators
dc.subject.naturalMedical and health care industry
dc.subject.naturalVaccination
dc.subject.naturalDelivery of medical care
dc.subject.naturalCost and standard of living
dc.subject.naturalEconomic conditions
dc.subject.naturalExchange
dc.subject.naturalComparative economics
dc.subject.naturalIndex number
dc.subject.naturalMonetary policy
dc.subject.naturalValue analysis
dc.subject.naturalAdjustment cost
dc.subject.naturalTransaction cost
dc.subject.naturalConditionality
dc.subject.naturalInternational relations
dc.subject.naturalSocial change
dc.subject.naturalSocial accounting
dc.subject.naturalInequality of income
dc.subject.naturalMass society
dc.subject.naturalSocial policy
dc.subject.naturalSocial stability
dc.subject.naturalPopulation|SMEs
dc.subject.naturalUnemployment
dc.contributor.imprintInstitute for Integrated Development Studies
oar.themeHealth
oar.themeEconomics
oar.adminregionAsia and the Pacific Region
oar.countryBangladesh
oar.countryBhutan
oar.countryIndia
oar.countryMaldives
oar.countryNepal
oar.countrySri Lanka
oar.countryBrunei Darussalam
oar.countryCambodia
oar.countryIndonesia
oar.countryLao People's Democratic
oar.countryMalaysia
oar.countryMyanmar
oar.countryPhilippines
oar.countrySingapore
oar.countryThailand
oar.countryViet Nam
oar.countryCook Islands
oar.countryFiji Islands
oar.countryKiribati
oar.countryMarshall Islands
oar.countryFederated States of Micronesia
oar.countryNauru
oar.countryPalau
oar.countryPapua New Guinea
oar.countrySamoa
oar.countrySolomon Islands
oar.countryTimor-Leste
oar.countryTonga
oar.countryTuvalu
oar.countryVanuatu
oar.countryAfghanistan
oar.countryArmenia
oar.countryAzerbaijan
oar.countryGeorgia
oar.countryKazakhstan
oar.countryKyrgyz Republic
oar.countryPakistan
oar.countryTajikistan
oar.countryTurkmenistan
oar.countryUzbekistan
oar.countryPeople's Republic of China
oar.countryHong Kong
oar.countryChina
oar.countryRepublic of Korea
oar.countryMongolia
oar.countryTaipei,China
oar.identifierOAR-011573
oar.authorNeopane, Abyaya
oar.authorWaglé, Swarnim
oar.importTRUE
oar.googlescholar.linkpresenttrue


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