This report summarizes the global economic effects and policy responses to the pandemic provided by governments and international institutions. The global economy could decline by 3% in 2020 before growing by 5.8% in 2021, based on IMF’s forecast of April 14, 2020. Global trade is projected to fall by 11% and oil prices are projected…Read More

This paper focuses on the socio-economic determinants that contribute to COVID-19 cases/deaths among countries. By leveraging Bayesian model averaging techniques and country level data, the authors identify 29 potential determinants grouped into several broad categories: healthcare infrastructure, national health statistics, societal characteristics, economic performance, demographic structure and natural environment. Their results suggest two determinants with…Read More

This briefing summarizes the key findings from several dialogues organized by the World Economic Forum about the impact of COVID-19 on the global financial system. These discussions among senior leaders from financial institutions, international organizations, central banks and other institutions led to four main policy recommendations: 1) “flattening the curve” of firm mortality; 2) making…Read More

This paper uses epidemiological Susceptible-Infectious-Recovered (SIR) models to quantify the impacts of social and economic interactions in transmitting infectious diseases. When otherwise rational individuals misevaluate the effects of their activities, the risk of infection for others is greater. If those infected engage in full social and economic activity while those susceptible reduce their activity, then…Read More

This paper addresses two theoretical questions: Can the COVID-19 supply shock lead to deficient demand? When — if at all — and how should governments intervene to correct for a recession? The authors have outlined a variety of conditions where a demand shortage leads to a reduction in output and employment that is larger than…Read More

During the COVID-19 crisis, most countries have kept customs administrations and cross-border agencies running to allow trade in essential goods. ASYCUDA World — a computerized customs management system that covers most foreign trade procedures — provides necessary support to better deal with this pandemic by adopting policies and procedures that ensure the smooth functioning of…Read More

This paper reviews the literature on how the pandemic impacts poor communities. The authors looked at research on the economic consequences of the pandemic on four different continents. They highlight the difficulty for the poor to adhere to self-isolation and social distancing measures. Several strategies to minimize the impact of the pandemic on the livelihoods…Read More