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The World Economy at COVID-19 Quarantine: Contemporary Review
International Journal of Economics, Finance and Management Sciences
Volume 8, Issue 2, April 2020, Pages: 63-74
Received: Apr. 13, 2020; Accepted: Apr. 30, 2020; Published: May 27, 2020
Views 311      Downloads 342
Author
Habtamu Legese Feyisa, Department of Economics, College of Business and Economics, Haramaya University, Dire Dawa (Harar), Ethiopia
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Abstract
Like the previous pandemics, Coronavirus (COVID-19) pandemic is first and foremost a public health threat, but it is also, and increasingly, an economic threat. On the other hand, the economic impact of a pandemic may not be long- lasting if the underlying cause is contained quickly. Currently the world is seriously affected by COVID-19 outbreak. Considering the evolving nature of the situation, it is too early to estimate the full impact of COVID-19 on the world economy, but many articles have been published and made available to the public on the actual and potential economic consequences of COVID-19. Most of them consider the partial economic effects of COVID-19 on different economic perspectives. Therefore, the general objective of this contemporary review is to prepare the bases for future solution by collecting and analyzing the results of previous articles and contextualization’s of their needs. The result of the review depicts the significant actual and projected impacts of COVID-19 on major macro-economic variables like: economic growth, unemployment and poverty level. Besides, the review also reflects the sectoral impacts of COVID-19 on manufacturing, service, trade, tourism & aviation and education sectors of the world economy.
Keywords
COVID-19, Pandemics, Economic Impact, Contraction; Health, Quarantine
To cite this article
Habtamu Legese Feyisa, The World Economy at COVID-19 Quarantine: Contemporary Review, International Journal of Economics, Finance and Management Sciences. Vol. 8, No. 2, 2020, pp. 63-74. doi: 10.11648/j.ijefm.20200802.11
Copyright
Copyright © 2020 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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