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- W4206112830 abstract "No AccessJul 2020Special Focus: Regional Macroeconomic Implications of COVID-19Authors/Editors: World BankWorld BankSearch for more papers by this authorhttps://doi.org/10.1596/978-1-4648-1553-9_SpecialFocusAboutView ChaptersFull TextPDF (4.2 MB) ToolsAdd to favoritesDownload CitationsTrack Citations ShareFacebookTwitterLinked In Abstract: Stresses that the rapid rise of COVID-19 cases, together with the wide range of measures to slow the spread of the virus, has slowed economic activity precipitously in many emerging market and developing economies (EMDEs), with disruptions proving more severe and protracted in countries with larger domestic outbreaks, greater exposure to international spillovers (particularly through exposure to global commodity and financial markets, global value chains, and tourism), and larger pre-existing challenges such as informality. Growth forecasts for all regions have seen severe downgrading, with Latin America and the Caribbean (LAC) and Europe and Central Asia (ECA) experiencing larger downgrades, partly due to their exposure to global spillovers. Many countries have avoided more adverse outcomes through sizable fiscal and monetary policy support measures. Despite these measures, per capita incomes in all EMDE regions should contract in 2020, causing millions to fall back into poverty, the first net increase in global poverty since 1998. ReferencesAcemoglu, D, U Akcigit, and W Kerr. 2015. “Networks and the Macroeconomy: An Empirical Exploration”. Research Discussion Paper 25, Bank of Finland, Helsinki. CrossrefGoogle ScholarADB (Asian Development Bank). 2020. Asian Development Outlook 2020: What Drives Innovation in Asia? April. Manila, Philippines: Asian Development Bank. Google ScholarAhmed, S, M Appendino, and M Ruta. 2015. “Depreciations Without Exports. 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LinkGoogle ScholarMaliszewska, M, A Mattoo, and D van der Mensbrugghe. 2020. “The Potential Impact of COVID-19 on GDP and Trade: A Preliminary Assessment.” Policy Research Working Paper 9211, World Bank, Washington, DC. LinkGoogle ScholarSforza, A and M Steininger. 2020. “Globalization in the Time of COVID-19.” CESifo Working Paper, Munich Society for the Promotion of Economic Research, Munich, Germany. Google ScholarTaglioni, D and V Zavack. 2016. “Innocent Bystanders: How Foreign Uncertainty Shocks Harm Exporters.” Policy Research Paper 6226. World Bank, Washington, DC. Google ScholarWorld Bank. 2019a. Global Economic Prospects: Darkening Skies. January. Washington, DC: World Bank. Google ScholarWorld Bank. 2019b. World Development Report 2020: Trading for Development in the Age of Global Value Chains. Washington DC: World Bank. LinkGoogle ScholarWorld Bank. 2019c. Trade Integration as a Pathway to Development? LAC Semiannual Report. Washington, DC: World Bank. LinkGoogle ScholarWorld Bank. 2020a. Africa’s Pulse: Assessing the Economic Impact of COVID-19 and Policy Responses in Sub-Saharan Africa. April. Washington, DC: World Bank. Google ScholarWorld Bank. 2020b. World Bank East Asia and Pacific Economic Update: East Asia and Pacific in the Time of COVID-19. April. Washington, DC: World Bank. LinkGoogle ScholarWorld Bank. 2020c. “COVID-19 Crisis Through a Migration Lens.” Migration and Development Brief 32, World Bank, Washington, DC. Google ScholarWorld Bank. 2020d. Semiannual Report of the Latin America and Caribbean Region: The Economy in the Time of COVID-19. April. Washington, DC: World Bank. Google ScholarWorld Bank. 2020e. MENA Economic Update: How Transparency can Help the Middle East and North Africa. April. Washington, DC: World Bank. Google ScholarWorld Bank. 2020f. Europe and Central Asia Economic Update: Fighting COVID-19. April. Washington, DC: World Bank. Google ScholarWorld Bank. 2020g. South Asia Economic Focus: The Cursed Blessing of Public Banks. April. Washington, DC: World Bank. LinkGoogle Scholar Previous chapterNext chapter FiguresreferencesRecommendeddetails View Published: June 2020ISBN: 978-1-4648-1553-9e-ISBN: 978-1-4648-1580-5 Copyright & Permissions Related TopicsHealth Nutrition and PopulationInternational Economics & TradeMacroeconomics and Economic GrowthPrivate Sector Development KeywordsCOVID-19CORONAVIRUSPANDEMICSMACROECONOMIC SHOCKSHEALTH SHOCKSGLOBAL ECONOMYEMERGING MARKETS AND DEVELOPING ECONOMIESEMDESFORECASTINGECONOMIC DEVELOPMENTPUBLIC HEALTHCOMMUNICABLE DISEASESRECESSIONLOCKDOWNSECONOMIC CONTRACTIONREGIONAL ECONOMYSPILLOVER EFFECTSPER CAPITA INCOMEPOVERTY STATISTICSMONETARY POLICYFINANCIAL SUBSIDIES PDF DownloadLoading ..." @default.
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