Opinions on the economic impact of the COVID-19 crisis and the world after – an international perspective

Tudorache Adrian Tudor () and Nicolescu Luminița ()
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Tudorache Adrian Tudor: Bucharest University of Economic Studies, Bucharest, Romania
Nicolescu Luminița: Bucharest University of Economic Studies, Bucharest, Romania

Proceedings of the International Conference on Business Excellence, 2021, vol. 15, issue 1, 873-887

Abstract: The COVID crisis affected the whole world at an unprecedented and unexpected level. There are concerns about the economic impact of the crisis and about how the world will be after the COVID-crisis ends. The present paper had as main objective to analyze the opinions of specialists about two aspects: a) economic impact of the COVID crisis at different levels in the economy (world, national economy, industry, business) and b) how will be the world order in the aftermath of the COVID crisis. The methodology used is literature review and documentation, followed by content analysis. The research revealed that the impact of the COVID-19 outbreak was huge at all levels in the economy, resulting in a global recession. Also, specialists appreciate that the world will not go back to how it was in 2019, there will be a clear distinction between the pre-COVID and the post-COVID eras, with a need for a new economic order after the crisis, that will emphasize global solidarity for the purpose of the common good.

Keywords: COVID crisis; economic impact; new world order (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:poicbe:v:15:y:2021:i:1:p:873-887:n:30

DOI: 10.2478/picbe-2021-0080

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