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Features of the COVID-19 Crisis – Reflections of Economic and Financial Indicators

Author

Listed:
  • Adina Criste

    (“Victor Slăvescu†Centre for Financial and Monetary Research, Romania)

  • Iulia Lupu

    (“Victor Slăvescu†Centre for Financial and Monetary Research, Romania)

Abstract

Recently, the world economy has been under strong pressure from several major events, with the COVID-19 crisis being one of them. Usually, the economic crises are specific to the financial environment, but the COVID-19 crisis is exogenous to the financial system, being induced by the political decision taken by the states of the world to quarantine the economy because of the pandemic. The article aims to highlight the main features that define the COVID-19 pandemic crisis, in economic and financial terms, analysing the development of specific indicators during the crisis, at the level of several countries, both developed and emerging. The financial sector has played a double role: on the one hand as the channel of transmission to the real economy of the reaction to the initial shock, and on the other hand, as a factor in shaping the initial conditions that have increased the sensitivity of the economy to shock.

Suggested Citation

  • Adina Criste & Iulia Lupu, 2022. "Features of the COVID-19 Crisis – Reflections of Economic and Financial Indicators," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 215-223, September.
    • Handle: RePEc:ovi:oviste:v:xxii:y:2022:i:1:p:215-223
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    References listed on IDEAS

    as
    1. Claudio Borio, 2020. "The Covid-19 economic crisis: dangerously unique," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 55(4), pages 181-190, October.
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    4. Veronica Guerrieri & Guido Lorenzoni & Ludwig Straub & Iván Werning, 2022. "Macroeconomic Implications of COVID-19: Can Negative Supply Shocks Cause Demand Shortages?," American Economic Review, American Economic Association, vol. 112(5), pages 1437-1474, May.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    global crisis; political decisions; stock market indices; global economy; deep uncertainty;
    All these keywords.

    JEL classification:

    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • F60 - International Economics - - Economic Impacts of Globalization - - - General
    • G01 - Financial Economics - - General - - - Financial Crises
    • G19 - Financial Economics - - General Financial Markets - - - Other

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