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Regional Differences in the Economic Impact of Lockdown Measures to Prevent the Spread of COVID-19: A Case Study for Colombia

In: The Colombian Economy and Its Regional Structural Challenges

Author

Listed:
  • Jaime Bonet

    (Banco de la República)

  • Diana Ricciulli

    (Banco de la República)

  • Gerson Javier Pérez-Valbuena

    (Banco de la República)

  • Eduardo A. Haddad

    (University of São Paulo)

  • Inácio F. Araújo

    (University of São Paulo)

  • Fernando S. Perobelli

    (Federal University of Juiz de Fora)

Abstract

This chapter analyzes the regional economic differences on the impact of lockdown measures ordered by Colombia's national government to prevent the spread of COVID-19. Using an input–output model, we estimate the regional economic losses of extracting a group of formal and informal workers from different sectors of the economy. Results show regional differences in the impact of lockdown on labor markets, local economies, and its productive sectors. We find that peripheral regions (Amazonía, Caribe, Pacífica, and Llanos and Orinoquia) concentrate a higher number of informal workers in the group of employees in lockdown than the central regions (Eje Cafetero and Antioquia, and Central). Regarding economic impact, losses range between 5,4% of GDP for the region Amazonía to 6,3% for Eje Cafetero and Antioquia. Moreover, while the sector of services concentrates the highest losses in the regions Eje Cafetero and Antioquia, Central, Caribe, and Pacífica, in Amazonía, and Llanos and Orinoquia, the economic activities mostly affected belong to mining and agriculture.

Suggested Citation

  • Jaime Bonet & Diana Ricciulli & Gerson Javier Pérez-Valbuena & Eduardo A. Haddad & Inácio F. Araújo & Fernando S. Perobelli, 2023. "Regional Differences in the Economic Impact of Lockdown Measures to Prevent the Spread of COVID-19: A Case Study for Colombia," Advances in Spatial Science, in: Eduardo A. Haddad & Jaime Bonet & Geoffrey J. D. Hewings (ed.), The Colombian Economy and Its Regional Structural Challenges, chapter 0, pages 327-358, Springer.
    • Handle: RePEc:spr:adspcp:978-3-031-22653-3_12
    DOI: 10.1007/978-3-031-22653-3_12
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    JEL classification:

    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • R15 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Econometric and Input-Output Models; Other Methods
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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