A Perspective on How Coronavirus Commenced and its Disruptive Impact on Global Economy

Authors: Manchanda P and Jaiswal AK*

DOI: 10.23880/jqhe-16000226

Volume 4, Issue 3

Abstract

This COVID-19 pandemic has a colossal impact on individuals as well as society. The discipline of health economics has grown significantly in recent years and new methodologies and techniques have been developed to evaluate the economic burden of the diseases. Amid the lockdown, scarce resources and increasing medical costs have highlighted the need to quantify the burden of COVID-19 on the healthcare system and thus the present study tried to make accurate economic assessments of the impact of this disease. The outbreak of the COVID-19 pandemic is an unprecedented shock to the economies globally. With the prolonged nation-wide lockdown, global economic downturn, and imbalances of demand and supply sides, the global economy is facing an extended period of slowdown, which is likely to be existing for a while now. The magnitude of the economic impact will depend upon the duration and severity of this global health crisis and the manner in which the situation unfolds once the economy starts to recover.

Keywords: Coronavirus; COVID-19; Economic Impact; Global Economy

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