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Regional economic impact of COVID‐19 in Colombia: An input–output approach

Author

Listed:
  • Jaime Bonet‐Morón
  • Diana Ricciulli‐Marín
  • Gerson Javier Pérez‐Valbuena
  • Luis Armando Galvis‐Aponte
  • Eduardo A. Haddad
  • Inácio F. Araújo
  • Fernando S. Perobelli

Abstract

The aim of this paper is to assess the regional economic impact of the lockdown measures ordered by the national government to prevent the spread of COVID‐19. Using an input–output model, we estimate the economic loss of extracting groups of formal and informal workers from different economic sectors. Results show monthly economic losses that represent between 0.5% and 6.1% of national GDP, depending on the scenario considered. Accommodation and food services, real estate, administrative services, construction and trade are the most affected sectors. Regionally, Antioquia, Boyacá, San Andrés, Santander and Valle del Cauca appear as highly vulnerable to these restrictions. El objetivo de este artículo es evaluar el impacto económico regional de las medidas de confinamiento decretadas por el gobierno nacional para evitar la propagación de COVID‐19. Se utilizó un modelo de input–output para estimar la pérdida económica de la extracción de grupos de trabajadores formales e informales de los diferentes sectores económicos. Los resultados muestran pérdidas económicas mensuales que representan entre el 0,5% y el 6,1% del PIB nacional, dependiendo del escenario considerado. Los sectores más afectados son los servicios de hostelería y de alimentación, el sector inmobiliario, los servicios administrativos, la construcción y el comercio. A nivel regional, Antioquía, Boyacá, San Andrés, Santander y Valle del Cauca aparecen como altamente vulnerables a estas restricciones. 本稿では、COVID‐19の拡大を防止するために国が命じたロックダウン措置の地域経済に対する影響を評価する。産業連関モデルを用いて、様々な経済セクターの正規労働者及び非正規労働者のグループを抽出することにより経済的損失を推計する。結果から、考慮するシナリオによって、国のGDPの0.5%から6.1%に相当する月次の経済損失が示される。宿泊およびフードサービス、不動産、行政サービス、建設及び貿易が最も影響を受けるセクターである。地域的には、アンティオキア、ボヤカ、サン・アンドレス、サンタンデール、バジェ・デル・カウカがこれらの制限措置に対して非常に脆弱であると考えられる。

Suggested Citation

  • Jaime Bonet‐Morón & Diana Ricciulli‐Marín & Gerson Javier Pérez‐Valbuena & Luis Armando Galvis‐Aponte & Eduardo A. Haddad & Inácio F. Araújo & Fernando S. Perobelli, 2020. "Regional economic impact of COVID‐19 in Colombia: An input–output approach," Regional Science Policy & Practice, Wiley Blackwell, vol. 12(6), pages 1123-1150, December.
  • Handle: RePEc:bla:rgscpp:v:12:y:2020:i:6:p:1123-1150
    DOI: 10.1111/rsp3.12320
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    References listed on IDEAS

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    1. Fernando Salgueiro Perobelli & Eduardo Amaral Haddad & Jaime Bonet Moron & Geoffrey Hewings, 2010. "Structural Interdependence Among Colombian Departments," Economic Systems Research, Taylor & Francis Journals, vol. 22(3), pages 279-300.
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    3. Amaral Haddad, Eduardo & Fernandes de Araújo Junior, Inácio & Galvis-Aponte, Luis Armando, 2019. "Matriz Insumo-Producto Interregional de Colombia, 2015 (Nota Técnica)," TD NEREUS 10-2019, Núcleo de Economia Regional e Urbana da Universidade de São Paulo (NEREUS).
    4. Guerra, Ana-Isabel & Sancho, Ferran, 2010. "Measuring energy linkages with the hypothetical extraction method: An application to Spain," Energy Economics, Elsevier, vol. 32(4), pages 831-837, July.
    5. Yue-Jun Zhang & Xiao-Juan Bian & Weiping Tan, 2018. "The linkages of sectoral carbon dioxide emission caused by household consumption in China: evidence from the hypothetical extraction method," Empirical Economics, Springer, vol. 54(4), pages 1743-1775, June.
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    1. Bekhzod EGAMBERDIEV, 2021. "Household Impact Of The Covid-19 Pandemic From A Development Economics Perspective - A Review," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(1), pages 15-30, June.
    2. Soltanisehat, Leili & González, Andrés D. & Barker, Kash, 2023. "Modeling social, economic, and health perspectives for optimal pandemic policy decision-making," Socio-Economic Planning Sciences, Elsevier, vol. 86(C).

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