The Role of Government Actions in the Economic Recovery Process: International Evidence During Pandemic Period

Yuchen Chen ()
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Yuchen Chen: Mount Holyoke College

A chapter in Proceedings of the 2023 5th International Conference on Economic Management and Cultural Industry (ICEMCI 2023), 2024, pp 614-620 from Springer

Abstract: Abstract This paper examines the role of government policy enforced during the pandemic in global economic indicators, such as foreign direct investment, exports, and imports. During the pandemic, the world economy has taken a hit and governments take action urgently to stabilize the economic situation. We mainly focus on data from seven large economic volume countries —— Australia, Brazil, Canada, China, India, the United Kingdom, and the United States. Incorporating evidence from the data and models presented in this paper, this study demonstrates that government policies have different impacts on economic indicators. An increase in the stringency index and government response index leads to a decrease in foreign direct investment, exports, and imports. However, an increase in the containment and health index has the opposite effect, leading to an increase in foreign direct investment, exports, and imports.

Keywords: international trade; Covid-19; government action; economic recovery (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-368-9_73

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DOI: 10.2991/978-94-6463-368-9_73

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