THE FINANCIAL IMPACT AND MEASURES IMPOSED BY THE COVID-19 PANDEMIC ON SUPPLY CHAINS
Autor (i): Culiță, Gica Gherghina
JEL: F, F01, F16
Cuvinte cheie: COVID -19, world economy, economic measurements, supply chains, international trade
Abstract:
As globalisation has increased, the world’s supply chains have become substantially more interconnected. Moreover, as emerging market economies have steadily come to account for a greater proportion of global GDP, goods often have more stages to pass through before reaching the end consumer. From national lockdowns to closed airspace and borders, Covid-19 has resulted in unprecedented disruption to the mechanics of most economies, regardless of their size or stage of development. In particular, the erection of these barriers has placed a major strain on the world’s supply chains, including essential linkages relating to food and medicines. The global economy is facing slow growth, high global uncertainty and dangers on different levels and all that should prompt policy makers to act in order to revive the global economy. Adressing measurments needed, as this paper presents the situation from past year and perspectives.
As globalisation has increased, the world’s supply chains have become substantially more interconnected. Moreover, as emerging market economies have steadily come to account for a greater proportion of global GDP, goods often have more stages to pass through before reaching the end consumer. From national lockdowns to closed airspace and borders, Covid-19 has resulted in unprecedented disruption to the mechanics of most economies, regardless of their size or stage of development. In particular, the erection of these barriers has placed a major strain on the world’s supply chains, including essential linkages relating to food and medicines. The global economy is facing slow growth, high global uncertainty and dangers on different levels and all that should prompt policy makers to act in order to revive the global economy. Adressing measurments needed, as this paper presents the situation from past year and perspectives.
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