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Socio-economic impacts of novel coronavirus: The policy solutions

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Abstract

Fear abounds regarding the novel coronavirus pandemic and the consequences. There are increasing numbers of confirmed deaths. These numbers are expected to surge when indirect costs due to lost productivity and comorbidities are taken into consideration. The economic implications are thus detrimental not only to public health systems but to trade and travel, food and agriculture industries, various market types and retail chains, among others. Among the suggested policy solutions are: proactive management approaches, health policy framework addressing many of the social determinants of health, education and health literacy, national and international shifts in investments, public and private partnerships and the establishment of the World Technical Council on Coronavirus. Effective implementation of these policy solutions will require full support of all stakeholders, including governments, the media, non-governmental organizations, health professionals, communities, and individuals.

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  • Evans, Olaniyi, 2020. "Socio-economic impacts of novel coronavirus: The policy solutions," BizEcons Quarterly, Strides Educational Foundation, vol. 7, pages 3-12.
  • Handle: RePEc:ris:buecqu:0013
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    References listed on IDEAS

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    1. Nwaogwugwu, Chii & Evans, Olaniyi, 2019. "What are the Short-run and Long-run Drivers of Human Capital Development in Nigeria?," MPRA Paper 97130, University Library of Munich, Germany.
    2. David H Molyneux & Peter J Hotez & Alan Fenwick, 2005. "“Rapid-Impact Interventions”: How a Policy of Integrated Control for Africa's Neglected Tropical Diseases Could Benefit the Poor," PLOS Medicine, Public Library of Science, vol. 2(11), pages 1-1, October.
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    Cited by:

    1. Wale-Awe, Olawale Isaac, 2020. "The Covid-19 pandemic lockdown: Curtailing the negative economic impacts," BizEcons Quarterly, Strides Educational Foundation, vol. 8, pages 3-14.
    2. Sharma, Piyush & Leung, T.Y. & Kingshott, Russel P.J. & Davcik, Nebojsa S. & Cardinali, Silvio, 2020. "Managing uncertainty during a global pandemic: An international business perspective," Journal of Business Research, Elsevier, vol. 116(C), pages 188-192.
    3. Pantano, Eleonora & Pizzi, Gabriele & Scarpi, Daniele & Dennis, Charles, 2020. "Competing during a pandemic? Retailers’ ups and downs during the COVID-19 outbreak," Journal of Business Research, Elsevier, vol. 116(C), pages 209-213.
    4. H Manjula Bai, 2020. "The Socio-Economic Implications of the Coronavirus Pandemic (COVID-19): A Review," ComFin Research, Shanlax Journals, vol. 8(4), pages 8-17, October.
    5. Seyed Reza Mirnezami & Sajad Rajabi, 2021. "Changing Primary Energy Consumption Due to COVID-19: The Study 20 European Economies," International Journal of Energy Economics and Policy, Econjournals, vol. 11(1), pages 615-631.
    6. Uddin, Godwin, 2020. "Prudential guidelines and financial system stability in Nigeria," MPRA Paper 104964, University Library of Munich, Germany.
    7. Junxiong Li & Alan G. Hallsworth & J. Andres Coca‐Stefaniak, 2020. "Changing Grocery Shopping Behaviours Among Chinese Consumers At The Outset Of The COVID‐19 Outbreak," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 111(3), pages 574-583, July.
    8. Irfan, Muhammad & Akram, Waqar & James Hooper, Vincent, 2020. "What factors can help COVID-19 patients to recover quickly in Pakistan," MPRA Paper 103053, University Library of Munich, Germany, revised 15 Sep 2020.

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    More about this item

    Keywords

    Socio-economic impacts; 2019 novel coronavirus; policy solutions;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • G01 - Financial Economics - - General - - - Financial Crises
    • G02 - Financial Economics - - General - - - Behavioral Finance: Underlying Principles
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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