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Economic & Financial Impacts
Several countries are witnessing the economic and financial impact of the novel coronavirus pandemic. There is lingering uncertainty about its severity and length.
With changes seen in global business practices and consumer behaviours, there seem to be stronger effects on economies than previously thought. The financial system has been impacted significantly with a predicted loss of global income that runs into trillions of dollars. This could worsen even further as the world economy is said to head into a recession. Developing countries will see increasing pressures on containing fiscal deficits and foreign exchange rate.
It's not Economy vs. Lives, It's Lives vs. Lives
by Deepa Mani & Shashwat Alok
The contraction of economic activity due to the lockdown has led to intense discussions around the question of whether lockdowns are the appropriate policy response to the outbreak. How long of a lockdown can we afford? Is the stringency of the lockdown appropriate? Should the intensity of lockdown vary based on the exposure of regions to Covid-19 risk? These are all critical questions.
Above excerpt taken from a media publication. This is an ongoing study.
Here Today, Gone Tomorrow: COVID-19 and Supply Chain Disruption
by Kanika Mahajan (Ashoka University) & Shekhar Tomar (ISB)
This paper looks at the disruption in food supply chains due to COVID-19 induced economic shutdown in India. We use a novel dataset from one of the largest online grocery retailers to look at the impact on product availability and prices in three major cities. We find that product availability fell by 10 percent for vegetables, fruits, and edible oils, while there was a minimal impact on their prices. The fall in availability is mostly on account of products, which were listed less frequently on the website in the pre-lockdown period. Additionally, the fall in availability was smaller for products that are manufactured near the retail centers. These findings suggest that supply chain disruptions are the main driver behind the observed fall in product availability.