Research Paper on What Impact Will COVID-19 Have on Global Economic Growth and Income Inequality?

Description

Title: What Impact Will COVID-19 Have on Global Economic Growth and Income Inequality?

Abstract: This essay makes the case that the disparity in economic performance among nations during the first year of the COVID-19 pandemic can be attributed to income inequality. Contrary to some studies’ findings, this study demonstrates that countries with less income inequality have been more negatively affected economically by COVID-19-related health casualties. Despite this, the level of income inequality in the nation and the decline in economic growth brought on by COVID-19 are both generally proportionate. Additionally, the findings indicate that the GDP growth over the first year of the pandemic period declined more rapidly in nations that depended more heavily on the service sector and nations that implemented more restrictive measures (lockdowns). The paper concludes with some significant policy repercussions that support the contribution of strong institutions to the resilience of economies during pandemics.

Keywords: COVID-19; income inequality; institutions; categorical regression; stringency measures

Paper Quality: SCOPUS / Web of Science Level Research Paper

Subject: Economics

Writer Experience: 20+ Years

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