• ISSN: 2301-3567 (Print)
    • Abbreviated Title: J. Econ. Bus. Manag.
    • Frequency: Quarterly (2013-2014); Monthly (2015-2017); Quarterly (Since 2018); Bimonthly (Since 2022)
    • DOI: 10.18178/JOEBM
    • Editor-in-Chief: Prof. Eunjin Hwang
    • Executive Editor: Ms. Fiona Chu
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JOEBM 2021 Vol.9(4): 72-80 ISSN: 2301-3567
DOI: 10.18178/joebm.2021.9.4.659

Global Economic Impact of the 2019 Novel Coronavirus (2019-nCoV) Pandemic

Yijia Ren
Abstract—The current 2019 Novel Coronavirus (2019-nCoV) outbreak is estimated to have much larger economic effects because of the global response that involved shutting down of businesses and, in some cases, mandatory curfews and quarantines. This research aims to analyze and predict the global impact of the 2019 Novel Coronavirus or 2019-nCoV on global markets, as measured by Gross Domestic Product (GDP), employment, consumer spending (retail sales) and financial markets. It provides a projection of where the global stock markets may be heading for the latter half of 2020 based upon projected GDP, employment, and consumer spending. The research also considers the impact of previous virus outbreaks, such as the SARS crisis which created approximately $40 billion in economic damage. White points out that sectors such as travel and leisure in addition to energy and retail may suffer significant losses as a result of travel bans and lack of economic activity. The same is true of the restaurant industry, and most industries will be negatively impacted to some extent. Equipped with financial projections, an investor would be able to identify strategies to protect (or benefit from) their assets in the event of a worst-case scenario.

Index Terms—Coronavirus, economic impact, global pandemic, economic projections.

The author is with the University of Southern California, USA (e-mail: Sissi.renmfe@gmail.com).

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Cite:Yijia Ren, "Global Economic Impact of the 2019 Novel Coronavirus (2019-nCoV) Pandemic," Journal of Economics, Business and Management vol. 9, no. 4, pp. 72-80, 2021.

Copyright © 2021 by the authors. This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).

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