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The Economic Shock of the Health Crisis in 2020: Comparing the Scale of Governments Support

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  • Jacques Sapir

    (EHESS-Paris, Foreign Member of the Russian Academy of Science, CEMI-IFAEE–Centre Robert de Sorbon)

Abstract

Consequences of the COVID-19 epidemic have come as a major shock to all developed and developing economies. This occurred in a relatively short period of time. Even the collapse of 2008–2010, what was described as “subprime crises”, seems to fade in comparison. This health crisis had seriously shaken the global economy and forced most governments to take measures to support economic activity that were considered exceptional at the time. These measures had moreover had significant consequences, either within emerging countries or within developed countries, and in particular in Europe. These consequences weighed on economic dynamics in the years that followed.

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  • Jacques Sapir, 2021. "The Economic Shock of the Health Crisis in 2020: Comparing the Scale of Governments Support," Studies on Russian Economic Development, Springer, vol. 32(6), pages 579-592, November.
    • Handle: RePEc:spr:sorede:v:32:y:2021:i:6:d:10.1134_s1075700721060186
    DOI: 10.1134/S1075700721060186
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    References listed on IDEAS

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    1. Luca Fornaro & Martin Wolf, 2020. "Covid-19 coronavirus and macroeconomic policy," Economics Working Papers 1713, Department of Economics and Business, Universitat Pompeu Fabra.
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    7. Serena Ng, 2021. "Modeling Macroeconomic Variations after Covid-19," NBER Working Papers 29060, National Bureau of Economic Research, Inc.
    8. Mr. Christian H Ebeke & Nemanja Jovanovic & Ms. Laura Valderrama & Jing Zhou, 2021. "Corporate Liquidity and Solvency in Europe during COVID-19: The Role of Policies," IMF Working Papers 2021/056, International Monetary Fund.
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    Cited by:

    1. Tessier, Philippe & Wolff, François-Charles, 2025. "Did the COVID-19 pandemic change the importance of health for life satisfaction? Evidence from France," Economics & Human Biology, Elsevier, vol. 56(C).

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