CORONAVIRUS IMPACT ON GLOBAL ECONOMY

Meri Boshkoska and Nikolche Jankulovsk
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Meri Boshkoska: FACULTY OF ECONOMICS – PRILEP UNIVERSITY ST.KLIMENT OHRIDSKI – BITOLA, REPUBLIC OF NORTH MACEDONIA
Nikolche Jankulovsk: FACULTY OF BIOTECHNICAL SCIENCE – BITOLA UNIVERSITY ST.KLIMENT OHRIDSKI – BITOLA, REPUBLIC OF NORTH MACEDONIA

Annals - Economy Series, 2020, vol. 4, 18-24

Abstract: The COVID-19 pandemic is having a severe effects on both workers and employers in different countries and industries worldwide. In this paper we analyzed the impact of the corona crisis on the global economic growth and the main questions addressed here are the effects of corona crisis on the global manufacturing activity and service industry. The research results showed that at the beginning of 2020 when the coronavirus emerged in Wuhan, China and has spread around the world causing a pandemic, it brought the global economy on its knees in a very short period of time. Also, the results indicate that the global economy will take years to recover from the corona crisis. The research is done by exploring of the latest economic analysis related to the COVID-19 pandemic in order to identify its effects on world economy throughout the first half of 2020.

Keywords: COVID-19; coronavirus; crisis; economic slowdown; global economy; black swan (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2020:v:4:p:18-24

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