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. 2020 May 29:8:241.
doi: 10.3389/fpubh.2020.00241. eCollection 2020.

Economic Consequences of the COVID-19 Outbreak: the Need for Epidemic Preparedness

Anton Pak  1 , Oyelola A Adegboye  1 , Adeshina I Adekunle  1 , Kazi M Rahman  2   3 , Emma S McBryde  1 , Damon P Eisen  1
Affiliations

Economic Consequences of the COVID-19 Outbreak: the Need for Epidemic Preparedness

Anton Pak et al. Front Public Health. .

Abstract

COVID-19 is not only a global pandemic and public health crisis; it has also severely affected the global economy and financial markets. Significant reductions in income, a rise in unemployment, and disruptions in the transportation, service, and manufacturing industries are among the consequences of the disease mitigation measures that have been implemented in many countries. It has become clear that most governments in the world underestimated the risks of rapid COVID-19 spread and were mostly reactive in their crisis response. As disease outbreaks are not likely to disappear in the near future, proactive international actions are required to not only save lives but also protect economic prosperity.

Keywords: COVID-19; Coronavirus; SARS-CoV-2; economy; global markets; pandemic.

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Figures

Figure 1
Figure 1
(A) Cumulative number of confirmed cases in emerging epicenters. Data sources: WHO Coronavirus disease (COVID-2019) situation reports (14). (B) Dynamics of the value of stock indices and oil futures relative to January 2, 2020. Data sources: historical data for stock indices and Brent oil futures were extracted from Yahoo Finance (www.finance.yahoo.com). Closing prices are used in the calculations. Daily values are calculated relative to an index value (100) on January 2, 2020.
Figure 2
Figure 2
Correlation between the number of COVID-19 cases and stock markets in selected countries.
See this image and copyright information in PMC

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