COVID-19: The Impact on the Economy and Policy Responses—A Review
Publication | March 2021
Asian economies were among the earliest epicenters of the epidemic, but they also demonstrated more effectiveness in controlling the spread of the virus.
The impact of the COVID-19 pandemic is far-reaching. We selectively review the rapidly growing literature, focusing on (1) the impact of COVID-19 on the labor market, both in terms of overall employment and work-from-home arrangements; (2) how COVID-19 may impact the reorganization of the global supply chain; (3) how COVID-19 accelerated the digitization of the economy, and how this impacts the small and medium-sized businesses; and (4) government policy responses.
WORKING PAPER NO: 1236
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