Growth and Development Implications of Covid-19

Petrakis, Panagiotis E.

This chapter presents the international economic architecture as it is framed by the international financial institutions. The pandemic of Covid-19 brought significant impacts on economic development and growth globally. This chapter identifies the new issues raised in the global economy, using the experience from the history of other pandemics that have occurred over the last two centuries. Thus, firstly the pandemics and their economic impact on human history is presented. Then the analysis focuses on the expected impacts of the recent pandemic on the global economy describing all channels for transmission and the potential losses in the medium term. Covid-19 puts under pressure the international economic situation as well as the states and the corporate finances. All over the world, countries try to flatten the curve of the epidemic and the economic crisis making it more manageable. In order to do so there are many policies discussed in order to reduce the negative effects of the crisis, which is expected to have long-run effects as well.