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Socio-economic impacts of novel coronavirus: The policy solutions

Olaniyi Evans

BizEcons Quarterly, 2020, vol. 7, 3-12

Abstract: Fear abounds regarding the novel coronavirus pandemic and the consequences. There are increasing numbers of confirmed deaths. These numbers are expected to surge when indirect costs due to lost productivity and comorbidities are taken into consideration. The economic implications are thus detrimental not only to public health systems but to trade and travel, food and agriculture industries, various market types and retail chains, among others. Among the suggested policy solutions are: proactive management approaches, health policy framework addressing many of the social determinants of health, education and health literacy, national and international shifts in investments, public and private partnerships and the establishment of the World Technical Council on Coronavirus. Effective implementation of these policy solutions will require full support of all stakeholders, including governments, the media, non-governmental organizations, health professionals, communities, and individuals.

Keywords: Socio-economic impacts; 2019 novel coronavirus; policy solutions (search for similar items in EconPapers)
JEL-codes: F15 F23 F36 G01 G02 G14 G15 (search for similar items in EconPapers)
Date: 2020
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