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Covid-19: Restrictions, Economic Losses And Incentives. European And Global Overview

Author

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  • Virginia CÂMPEANU

Abstract

The viral epidemic COVID-19 started in December 2019 in a large city of China, Wuhan with a population of about 20 million, similar to that of Romania. The huge speed of virus spread inside China, then outside the borders has determined the World Health Organization (WHO) to declare on January 30, 2020, "Global emergency for public health" (pandemic). In mid-March, the epicentre of the epidemic moved from Asia to Europe, where the number of cases continues to grow and 6 of the first 10 countries with the most cases and deaths caused by COVID-19 are members of the European Union. The objective of this article is to reveal the results of an analysis regarding the incidence of coronavirus COVID-19 on a European and global level by the last decade of March 2020, the economic losses registered by the affected countries and the consequences at a global level (recession and significant decrease of international trade). In the last part of the article, we present case studies on three developed countries - France, the United Kingdom and the USA - in particular to reveal the wide range of government incentives government incentives initiated by them to save the economy and jobs, which can be adapted from country to country depending on resources.

Suggested Citation

  • Virginia CÂMPEANU, 2020. "Covid-19: Restrictions, Economic Losses And Incentives. European And Global Overview," Euroinfo, Institute for World Economy, Romanian Academy, vol. 4(1), pages 3-20, March.
  • Handle: RePEc:iem:eurinf:v:4:y:2020:i:1:p:3-20
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    File URL: http://www.iem.ro/rem/index.php/euroinfo/article/view/739/822
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    More about this item

    Keywords

    COVID-19; public health and economic development; government expenditures and policies; government expenditures and welfare programs; EU; France; UK; USA;
    All these keywords.

    JEL classification:

    • E71 - Macroeconomics and Monetary Economics - - Macro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on the Macro Economy
    • I15 - Health, Education, and Welfare - - Health - - - Health and Economic Development
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
    • H51 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Health
    • H53 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Welfare Programs

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