Economic Effects of COVID-19 Pandemic and Potential Solutions

Nteka Nikoletta

doi:doi:10.11648/j.ijefm.20210904.13

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Economic Effects of COVID-19 Pandemic and Potential Solutions

Nteka Nikoletta

Published in International Journal of Economics, Finance and Management Sciences (Volume 9, Issue 4)

Received: 14 June 2021 Accepted: 30 June 2021 Published: 13 August 2021

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Abstract

Background: The pandemic scenario has existed for many years as a possibility by health scientists but was never taken seriously. The arrival of the virus about a year ago caught the whole world unprepared. The inability to tackle the virus with any medication has led many governments to quarantine so that the health crisis can be alleviated. However, the existence of this crisis has turned into an economic crisis, as many companies have stopped operating and many people do not have the income they had in previous years. Purpose: The purpose of this article is to describe the COVID-19 pandemic crisis, to analyze its effects on the world economy, but also to propose solutions. Method: This article is conducted as a literature review. Results: COVID-19 pandemic has dramatically affected all aspects of world economy. Conclusion: The World Bank is an international financial institution that provides financial and technical assistance to developing countries for development projects with the stated goal of reducing poverty. Nevertheless, it has played an important role in this pandemic with the funding of many governments as the World Bank has developed a new strategy that focuses on eradicating extreme poverty and promoting shared prosperity in a sustainable way. It is committed to helping countries achieve these goals with proven solutions that incorporate WBG knowledge and financial development services.

Published in	International Journal of Economics, Finance and Management Sciences (Volume 9, Issue 4)
DOI	10.11648/j.ijefm.20210904.13
Page(s)	159-164
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Pandemic, COVID-19, Crisis

References

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[15]	Taleb, N. N. (2007). The Black Swan: the impact of highly improbable. USA: Penguin Publishers. https://www.bloomberg.com/news/videos/2020-03-31/nassim-taleb-says-whiteswan-coronavirus-pandemic-was-preventable-video; 2020.
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Nteka Nikoletta. (2021). Economic Effects of COVID-19 Pandemic and Potential Solutions. International Journal of Economics, Finance and Management Sciences, 9(4), 159-164. https://doi.org/10.11648/j.ijefm.20210904.13

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ACS Style

Nteka Nikoletta. Economic Effects of COVID-19 Pandemic and Potential Solutions. Int. J. Econ. Finance Manag. Sci. 2021, 9(4), 159-164. doi: 10.11648/j.ijefm.20210904.13

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AMA Style

Nteka Nikoletta. Economic Effects of COVID-19 Pandemic and Potential Solutions. Int J Econ Finance Manag Sci. 2021;9(4):159-164. doi: 10.11648/j.ijefm.20210904.13

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@article{10.11648/j.ijefm.20210904.13,
  author = {Nteka Nikoletta},
  title = {Economic Effects of COVID-19 Pandemic and Potential Solutions},
  journal = {International Journal of Economics, Finance and Management Sciences},
  volume = {9},
  number = {4},
  pages = {159-164},
  doi = {10.11648/j.ijefm.20210904.13},
  url = {https://doi.org/10.11648/j.ijefm.20210904.13},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20210904.13},
  abstract = {Background: The pandemic scenario has existed for many years as a possibility by health scientists but was never taken seriously. The arrival of the virus about a year ago caught the whole world unprepared. The inability to tackle the virus with any medication has led many governments to quarantine so that the health crisis can be alleviated. However, the existence of this crisis has turned into an economic crisis, as many companies have stopped operating and many people do not have the income they had in previous years. Purpose: The purpose of this article is to describe the COVID-19 pandemic crisis, to analyze its effects on the world economy, but also to propose solutions. Method: This article is conducted as a literature review. Results: COVID-19 pandemic has dramatically affected all aspects of world economy. Conclusion: The World Bank is an international financial institution that provides financial and technical assistance to developing countries for development projects with the stated goal of reducing poverty. Nevertheless, it has played an important role in this pandemic with the funding of many governments as the World Bank has developed a new strategy that focuses on eradicating extreme poverty and promoting shared prosperity in a sustainable way. It is committed to helping countries achieve these goals with proven solutions that incorporate WBG knowledge and financial development services.},
 year = {2021}
}

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TY  - JOUR
T1  - Economic Effects of COVID-19 Pandemic and Potential Solutions
AU  - Nteka Nikoletta
Y1  - 2021/08/13
PY  - 2021
N1  - https://doi.org/10.11648/j.ijefm.20210904.13
DO  - 10.11648/j.ijefm.20210904.13
T2  - International Journal of Economics, Finance and Management Sciences
JF  - International Journal of Economics, Finance and Management Sciences
JO  - International Journal of Economics, Finance and Management Sciences
SP  - 159
EP  - 164
PB  - Science Publishing Group
SN  - 2326-9561
UR  - https://doi.org/10.11648/j.ijefm.20210904.13
AB  - Background: The pandemic scenario has existed for many years as a possibility by health scientists but was never taken seriously. The arrival of the virus about a year ago caught the whole world unprepared. The inability to tackle the virus with any medication has led many governments to quarantine so that the health crisis can be alleviated. However, the existence of this crisis has turned into an economic crisis, as many companies have stopped operating and many people do not have the income they had in previous years. Purpose: The purpose of this article is to describe the COVID-19 pandemic crisis, to analyze its effects on the world economy, but also to propose solutions. Method: This article is conducted as a literature review. Results: COVID-19 pandemic has dramatically affected all aspects of world economy. Conclusion: The World Bank is an international financial institution that provides financial and technical assistance to developing countries for development projects with the stated goal of reducing poverty. Nevertheless, it has played an important role in this pandemic with the funding of many governments as the World Bank has developed a new strategy that focuses on eradicating extreme poverty and promoting shared prosperity in a sustainable way. It is committed to helping countries achieve these goals with proven solutions that incorporate WBG knowledge and financial development services.
VL  - 9
IS  - 4
ER  -

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Author Information

Nteka Nikoletta

Faculty of Economics, South-West University “Neofit Rilsky”, Blagoevgrad, Bulgaria

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APA Style

Nteka Nikoletta. (2021). Economic Effects of COVID-19 Pandemic and Potential Solutions. International Journal of Economics, Finance and Management Sciences, 9(4), 159-164. https://doi.org/10.11648/j.ijefm.20210904.13

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ACS Style

Nteka Nikoletta. Economic Effects of COVID-19 Pandemic and Potential Solutions. Int. J. Econ. Finance Manag. Sci. 2021, 9(4), 159-164. doi: 10.11648/j.ijefm.20210904.13

Copy | Download

AMA Style

Nteka Nikoletta. Economic Effects of COVID-19 Pandemic and Potential Solutions. Int J Econ Finance Manag Sci. 2021;9(4):159-164. doi: 10.11648/j.ijefm.20210904.13

Copy | Download

@article{10.11648/j.ijefm.20210904.13,
  author = {Nteka Nikoletta},
  title = {Economic Effects of COVID-19 Pandemic and Potential Solutions},
  journal = {International Journal of Economics, Finance and Management Sciences},
  volume = {9},
  number = {4},
  pages = {159-164},
  doi = {10.11648/j.ijefm.20210904.13},
  url = {https://doi.org/10.11648/j.ijefm.20210904.13},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20210904.13},
  abstract = {Background: The pandemic scenario has existed for many years as a possibility by health scientists but was never taken seriously. The arrival of the virus about a year ago caught the whole world unprepared. The inability to tackle the virus with any medication has led many governments to quarantine so that the health crisis can be alleviated. However, the existence of this crisis has turned into an economic crisis, as many companies have stopped operating and many people do not have the income they had in previous years. Purpose: The purpose of this article is to describe the COVID-19 pandemic crisis, to analyze its effects on the world economy, but also to propose solutions. Method: This article is conducted as a literature review. Results: COVID-19 pandemic has dramatically affected all aspects of world economy. Conclusion: The World Bank is an international financial institution that provides financial and technical assistance to developing countries for development projects with the stated goal of reducing poverty. Nevertheless, it has played an important role in this pandemic with the funding of many governments as the World Bank has developed a new strategy that focuses on eradicating extreme poverty and promoting shared prosperity in a sustainable way. It is committed to helping countries achieve these goals with proven solutions that incorporate WBG knowledge and financial development services.},
 year = {2021}
}

Copy | Download

TY  - JOUR
T1  - Economic Effects of COVID-19 Pandemic and Potential Solutions
AU  - Nteka Nikoletta
Y1  - 2021/08/13
PY  - 2021
N1  - https://doi.org/10.11648/j.ijefm.20210904.13
DO  - 10.11648/j.ijefm.20210904.13
T2  - International Journal of Economics, Finance and Management Sciences
JF  - International Journal of Economics, Finance and Management Sciences
JO  - International Journal of Economics, Finance and Management Sciences
SP  - 159
EP  - 164
PB  - Science Publishing Group
SN  - 2326-9561
UR  - https://doi.org/10.11648/j.ijefm.20210904.13
AB  - Background: The pandemic scenario has existed for many years as a possibility by health scientists but was never taken seriously. The arrival of the virus about a year ago caught the whole world unprepared. The inability to tackle the virus with any medication has led many governments to quarantine so that the health crisis can be alleviated. However, the existence of this crisis has turned into an economic crisis, as many companies have stopped operating and many people do not have the income they had in previous years. Purpose: The purpose of this article is to describe the COVID-19 pandemic crisis, to analyze its effects on the world economy, but also to propose solutions. Method: This article is conducted as a literature review. Results: COVID-19 pandemic has dramatically affected all aspects of world economy. Conclusion: The World Bank is an international financial institution that provides financial and technical assistance to developing countries for development projects with the stated goal of reducing poverty. Nevertheless, it has played an important role in this pandemic with the funding of many governments as the World Bank has developed a new strategy that focuses on eradicating extreme poverty and promoting shared prosperity in a sustainable way. It is committed to helping countries achieve these goals with proven solutions that incorporate WBG knowledge and financial development services.
VL  - 9
IS  - 4
ER  -

Copy | Download