In response to the global expansion of COVID-19, governments around the world have implemented social distancing measures resulting in an unprecedented fall in economic activity. Consequently, the economic growth forecasts for 2020 have been adjusted downward in most countries, yet the magnitude of the decline has been different. In this article, we examine the economic vulnerability to COVID-19-measured as the change in GDP growth forecasts for 2020-and its determinants for a sample of 194 countries. We identify the characteristics of the external sector and macroeconomic policy stance that are associated with an increase in economic vulnerability during the pandemic.
Bibliographical notePublisher Copyright:
© 2020, Universidad de Huelva. All rights reserved.
Copyright 2020 Elsevier B.V., All rights reserved.
All Science Journal Classification (ASJC) codes
- Geography, Planning and Development
- Social Sciences (miscellaneous)
- Economics and Econometrics
- Political Science and International Relations