Spillover of COVID-19: Impact on the Global Economy

By Peterson K. Ozili, T. Arun. Social Science Research Network, 2020

1,210 citations recorded by the source corpus.

How did a health crisis translate to an economic crisis? Why did the spread of the coronavirus bring the global economy to its knees? The answer lies in two methods by which coronavirus stifled economic activities. First, the spread of the virus encouraged social distancing which led to the shutdown of financial markets, corporate offices, businesses and events. Second, the exponential rate at which the virus was spreading, and the heightened uncertainty about how bad the situation could get, led to flight to safety in consumption and investment among consumers, investors and international trade partners.

Subfields: Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/34b91c0c541b527e8b48d63e6bd041f8aea1c5d6

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Citations in the corpus

Impact of COVID-19 pandemic on stock markets: Conventional vs. Islamic indices using wavelet-based multi-timescales analysis (2021, background): “…Zhang, Hu, and Ji, 2020; He et al., 2020; Yilmazkuday, 2020; Baker, Bloom, Davis, Kost, Sammon, and Viratyosin, 2020; Ramelli and Wagner, 2020; Ozili and Arun, 2020; Mazur, Dang, and Vega, 2020, Hasan et al., 2021; Li, 2021; Yarovaya, Elsayed, and Hammoudeh, 2021; Uddin, Chowdhury, Anderson,…”
Timed intervention in COVID-19 and panic buying (2020, neutral): “However, this policy can result in substantial and unintentional financial, economic, and social consequences at both macro and micro levels (Ozili and Arun, 2020).”
Stock Market Response during COVID-19 Lockdown Period in India: An Event Study (2020, background): “Ozili and Arun (2020) analyze the impact of COVID-19 on the global economy; the period of the study started from the beginning of 2020 to March when COVID-19 spread to most of the countries.”
COVID-19 pandemic and economic crisis: the Nigerian experience and structural causes (2020, background): “Ozili (2020) show that the COVID-19 pandemic and the lockdown restrictions had negative socioeconomic consequences for African countries.”
Investigating the emerging COVID-19 research trends in the field of business and management: A bibliometric analysis approach (2020, background): “Despite the closure of international borders, maintaining trade flow is crucial to ensure access to essential goods like medicine and food in addition to supporting jobs and economic activities (Ozili & Arun, 2020).”
COVID-19 pandemic digitization lessons for sustainable development of micro-and small- enterprises (2021, background): “The negative global economic impact in such a short period of time has been unprecedented ( Ozili and Arun, 2020 ).”
COVID-19 in Africa: socio-economic impact, policy response and opportunities (2020, background): “Some argue that social distancing will trigger a painful recession (Ozili and Arun, 2020).”
COVID-19 and Indian Economy: Impact on Growth, Manufacturing, Trade and MSME Sector (2020, background): “Further, there is mounting pressure from supply side as the lock-down in India and across the countries has given a severe shock to supply chain (Ozili & Arun, 2020).”