An Updated Assessment of the Economic Impact of COVID-19

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dc.contributor.authorPark, Cyn-Young; Villafuerte, James P.; Abiad, Abdul; Narayan, Badri; Banzon, Eduardo; Samson, Jindra Nuella G.; Aftab, Ammar; Tayag, Mara Claire
dc.date.accessioned2021-10-05T15:06:09Z
dc.date.available2021-10-05T15:06:09Z
dc.date.issued2020-05
dc.descriptionThis brief presents new projections on the economic impact of COVID-19 and highlights policy implications. New analysis using the Global Trade Analysis Project model estimates that the global economic impact of COVID-19 could reach $5.8 trillion (6.4% of global GDP) under a 3-month containment scenario, and $8.8 trillion (9.7% of global GDP) under a 6-month containment scenario. It also updates estimates for Asia and the Pacific. The brief highlights that policy interventions could reduce the impact of COVID-19 by 30% under the short containment scenario and by 40% under the long containment scenario. It notes that strong income and employment protection are crucial.
dc.format.extent16
dc.identifier.isbn9789292622145
dc.identifier.isbn9789292622152
dc.identifier.issn2071-7202
dc.identifier.issn2218-2675
dc.identifier.urihttps://www.adb.org/publications/updated-assessment-economic-impact-covid-19
dc.identifier.urihttps://hdl.handle.net/20.500.14540/5713
dc.subject.otherEconomics
dc.subject.otherHealth
dc.subject.otherCommunicable and vector-borne diseases
dc.subject.otherEmerging diseases
dc.subject.otherCOVID-19
dc.subject.otherIndustry and trade
dc.subject.otherSocial development and protection
dc.subject.otherSocial protection - labor and employment
dc.titleAn Updated Assessment of the Economic Impact of COVID-19
local.publication.countryRegional - Asia and the Pacific

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