The Impacts of Novel Coronavirus (COVID-19) Pandemic Outbreak on Global Economy: A Quantitative Analysis
Md. Amir Hossain
Sch J Econ Bus Manag | 197-208
DOI : 10.36347/sjebm.2020.v07i06.001
The aim of this paper is to investigate the recessive impacts of the novel coronavirus (COVID-19) pandemic outbreak on the global economy in reference to the reports of the international agencies, including UNCTAD, OECD, UN, DESA, IBIS, and CDCP. How millions of people living in the vulnerable countries of the world are being infected and affected by the fatal virus is the main target of this study. The dreadful effects are prevailing in the global economy. Consequently, the worst case scenario has been created in macro economies. Global economy has become paralyzed and become stagnant. For this purpose, the paper would like to focus on the duty and responsibility of the global leaders through coordination and cooperation so that global economy can be invigorated. The impacts of the coronavirus on unemployment, capital flight, contraction of foreign direct investment, supply shock, demand shock, manufacturing industries, electronic goods, hospitality, tourism and cruise ships, oil prices, pharmaceuticals and healthcare, fashionable and luxurious products of the whole world have been discussed in this paper faithfully. Also, the adverse impacts of the COVID-19 on Bangladesh economies, including garment industries, remittance, and internal economy have been unveiled. Thus, paper would like to explore the current picture of the global economic crisis.
Original Research Article
June 26, 2020
Coronavirus (COVID-19) and the Survival of Small and Medium Enterprises in Abeokuta, Ogun State Nigeria
Shodiya Olayinka Abideen
Sch J Econ Bus Manag | 209-214
DOI : 10.36347/sjebm.2020.v07i06.002
This study assessed the relationship between COVID-19 and the survival of Small and Medium Enterprises. The survey research design was employed in carrying out the study and SMEs owners in Abeokuta, Ogun State, Nigeria constituted the population. The study used the Yamane formula for calculating sample size to derive a total of 261 SMEs as the sample size for this study. Data for the study was collected using a standardized questionnaire and the collected data was analyzed using inferential statistics (regression analysis and correlation analysis). The result of the analysis unveiled those COVID-19 sub-variables (lockdown days, internal movement restriction and international travel restriction, with Beta value of (β¬= -412, β¬=-281 and β¬=-044) all have significant negative relationship with the survival of SME businesses. Based on the finding, the study recommended that more financial and social aids/stimuli should be provided for SMEs owners in order to keep them operational during and after the pandemic. The study also recommended that social, health and economic infrastructures such as public health system, social welfare programs and digital economy should be worked upon.