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Spillover effect of Covid19 on the Global Economy

Author

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  • Hasnan Baber

    (Endicott, College of International Studies, Woosong University, United States)

Abstract

The pandemic of COVID19 has disrupted every aspect of life. From groceries to medicines, travel to events, sports to funerals, economics to politics and religion to social rights all domains of life have been shaken up by this infectious virus. The impact is deep and will have a lasting effect. The situation is severe in some countries and it is too soon to estimate the exact impact of COVID19 on the global economy. This is a review article examining different facets of the pandemic to understand the impact on the economy. This article examines the effect of this crisis on the financial markets, banking, hospitality, and health care sectors. The data comes from various reports published by the various organizations and institutions worldwide and the recent limited research literature available on this topic. The bitter truth is that the pandemic will have a substantial and extended negative impact on the global economy, especially on the financial and hospitality industry.

Suggested Citation

  • Hasnan Baber, 2020. "Spillover effect of Covid19 on the Global Economy," Transnational Marketing Journal, Oxbridge Publishing House, UK, vol. 8(2), pages 177-196, October.
    • Handle: RePEc:mig:tmjrnl:v:8:y:2020:i:2:p:177-196
    DOI: https://doi.org/10.33182/tmj.v8i2.1067
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    Cited by:

    1. Salesi, Vinolia Kilinaivoni & Kan Tsui, Wai Hong & Fu, Xiaowen & Gilbey, Andrew, 2022. "Strategies for South Pacific Region to address future pandemics: Implications for the aviation and tourism sectors based on a systematic literature review (2010–2021)," Transport Policy, Elsevier, vol. 125(C), pages 107-126.
    2. Gao Tianming & Vasilii Erokhin & Aleksandr Arskiy & Mikail Khudzhatov, 2021. "Has the COVID-19 Pandemic Affected Maritime Connectivity? An Estimation for China and the Polar Silk Road Countries," Sustainability, MDPI, vol. 13(6), pages 1-39, March.
    3. Lizheng Ma & Congzhi Zhang & Kai Lisa Lo & Xiangyan Meng, 2023. "Can Stringent Government Initiatives Lead to Global Economic Recovery Rapidly during the COVID-19 Epidemic?," IJERPH, MDPI, vol. 20(6), pages 1-16, March.
    4. Hasnan Baber, 2021. "Efficacy of COVID-19 screening system and customer satisfaction in banks: moderating role of the perceived threat and health risk," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 26(4), pages 295-304, December.

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