Journal of Global Economics

ISSN: 2375-4389

Open Access

Massomeh Hajilee

Department of Global Economics, University of Houston-Victoria, Victoria, United States

  • Review Article   
    The COVID-19 Pandemic Impact on Global Economy
    Author(s): Gerald Ileka* and Massomeh Hajilee

    The COVID-19 pandemic has affected the global economy in different ways. While some sectors such as aviation and tourism experienced a sharp decline in demand, others felt some growth. For example, the media and food retail industry are some of the sectors that have benefitted from the pandemic. They experienced a rise in demand for products and services as lockdowns and other measures to reduce the spread of the coronavirus forced people to remain at home and use online channels for entertainment and to order goods. Nevertheless, the COVID-19 pandemic has severely affected the globalization of consumption by lowering people's incomes and reducing the demand for goods and services. It indicates the need for governments to use a fiscal policy that involves changes to taxes and higher spending to boost people’s incomes and trigger growth through higher consumption. Thus, the e.. Read More»
    DOI: 10.37421/2375-4389.2021.9.367

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