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Regional differences in the economic impact of lockdown measures to prevent the spread of COVID-19: A case study for Colombia

Author

Listed:
  • Diana Ricciulli-Marín
  • Jaime Bonet-Morón
  • Gerson Javier Pérez-Valbuena
  • Eduardo A. Haddad
  • Inácio F. Araújo
  • Fernando S. Perobelli

Abstract

This paper analyses the regional economic differences in the impact of lockdown measures to prevent the spread of COVID-19 ordered by Colombia’s national gov- ernment. Using an input-output model, we estimate regional economic losses by extracting a group of formal and informal workers from different sectors of the economy. Results show regional differences in the impact of lockdown measures on their labour markets, local economies, and productive sectors. We also find that peripheral regions consolidate a higher number of informal workers in isolation than the interior regions. Regarding the economic impact, regional losses range between 5,4% of the GDP (Amazonia) and 6,3% (the Coffee Area and Antioquia). ****** Este artículo analiza las diferencias regionales en el impacto económico de las medidas de aislamiento ordenadas para evitar la propagación del COVID-19 en Colombia. Por medio de un modelo insumo-producto, se estiman las pérdidas económicas que resultan de extraer un grupo de empleados formales e informales de los distintos sectores de la economía. Los resultados señalan diferencias regio- nales en el impacto del confinamiento sobre el mercado laboral, las economías locales y sus sectores productivos. Se encuentra que las regiones periféricas con- centran un mayor número de informales en aislamiento que las regiones centrales. Las pérdidas económicas oscilan desde 5,4○% del PIB (Amazonía) hasta 6,3○% (Eje Cafetero y Antioquia).

Suggested Citation

  • Diana Ricciulli-Marín & Jaime Bonet-Morón & Gerson Javier Pérez-Valbuena & Eduardo A. Haddad & Inácio F. Araújo & Fernando S. Perobelli, 2021. "Regional differences in the economic impact of lockdown measures to prevent the spread of COVID-19: A case study for Colombia," Revista Cuadernos de Economia, Universidad Nacional de Colombia, FCE, CID, vol. 40(85), pages 977-998, December.
    • Handle: RePEc:col:000093:020308
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    References listed on IDEAS

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    1. Aum, Sangmin & Lee, Sang Yoon (Tim) & Shin, Yongseok, 2021. "Inequality of fear and self-quarantine: Is there a trade-off between GDP and public health?," Journal of Public Economics, Elsevier, vol. 194(C).
    2. Jaime Bonnet M., 2006. "Cambio estructural regional en Colombia: una aproximación con matrices insumo-producto," Coyuntura Económica, Fedesarrollo, June.
    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. Haddad, Eduardo Amaral & Perobelli, Fernando Salgueiro & Araújo, Inácio Fernandes, 2020. "Input-Output Analysis of COVID-19: Methodology for Assessing the Impacts of Lockdown Measures," TD NEREUS 1-2020, Núcleo de Economia Regional e Urbana da Universidade de São Paulo (NEREUS).
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    More about this item

    Keywords

    COVID-19; inter-regional input-output matrix; regional development.;
    All these keywords.

    JEL classification:

    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • R15 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Econometric and Input-Output Models; Other Methods
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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