Socioeconomic impact due to COVID-19: An empirical assessment

Starting from December 2019, the novel COVID-19 threatens human lives and economies across the world. It was a matter of grave concern for the governments of all the countries as the deadly virus started expanding its paws over neighboring regions of infected areas. The spread got uncontrollable, th...

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Main Authors: Gupta, V., Santosh, K.C., Arora, R., Ciano, T., Kalid, K.S., Mohan, S.
Format: Article
Institution: Universiti Teknologi Petronas
Record Id / ISBN-0: utp-eprints.28638 /
Published: Elsevier Ltd 2022
Online Access: https://www.scopus.com/inward/record.uri?eid=2-s2.0-85120935417&doi=10.1016%2fj.ipm.2021.102810&partnerID=40&md5=a27b351c2355c019399255f91a7e3127
http://eprints.utp.edu.my/28638/
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spelling utp-eprints.286382022-03-07T08:22:02Z Socioeconomic impact due to COVID-19: An empirical assessment Gupta, V. Santosh, K.C. Arora, R. Ciano, T. Kalid, K.S. Mohan, S. Starting from December 2019, the novel COVID-19 threatens human lives and economies across the world. It was a matter of grave concern for the governments of all the countries as the deadly virus started expanding its paws over neighboring regions of infected areas. The spread got uncontrollable, thereby leaving no choice for the nations but to impose and observe nationwide lockdown. The lockdown further sorely hit many sectors, which in turn impacted the economy. Manufacturing, agriculture, and the service sector - the three pillars of the economy - have been adversely affected giving a major slow down to the economy belonging to every nation. Several schemes and policies were introduced by different state and central governments to absorb the impact of subsequent lockdowns on individuals. In this paper, we present a then and now analysis of the economy using a socioeconomic framework focusing on factors- unemployment, industrial production, import-export trade, equity markets, currency exchange rate, and gold and silver prices. For all these, we consider India as a case study because the Indian sub-continent has a wide landscape and rich cultural heritage presenting itself as a potential hub for economic activities. A thorough assessment has been made for the period January 2020- June 2020. The assessment will be beneficial to observe the long-term impact of any infectious disease outbreak such as COVID-19 locally and globally. © 2021 Elsevier Ltd Elsevier Ltd 2022 Article NonPeerReviewed https://www.scopus.com/inward/record.uri?eid=2-s2.0-85120935417&doi=10.1016%2fj.ipm.2021.102810&partnerID=40&md5=a27b351c2355c019399255f91a7e3127 Gupta, V. and Santosh, K.C. and Arora, R. and Ciano, T. and Kalid, K.S. and Mohan, S. (2022) Socioeconomic impact due to COVID-19: An empirical assessment. Information Processing and Management, 59 (2). http://eprints.utp.edu.my/28638/
institution Universiti Teknologi Petronas
collection UTP Institutional Repository
description Starting from December 2019, the novel COVID-19 threatens human lives and economies across the world. It was a matter of grave concern for the governments of all the countries as the deadly virus started expanding its paws over neighboring regions of infected areas. The spread got uncontrollable, thereby leaving no choice for the nations but to impose and observe nationwide lockdown. The lockdown further sorely hit many sectors, which in turn impacted the economy. Manufacturing, agriculture, and the service sector - the three pillars of the economy - have been adversely affected giving a major slow down to the economy belonging to every nation. Several schemes and policies were introduced by different state and central governments to absorb the impact of subsequent lockdowns on individuals. In this paper, we present a then and now analysis of the economy using a socioeconomic framework focusing on factors- unemployment, industrial production, import-export trade, equity markets, currency exchange rate, and gold and silver prices. For all these, we consider India as a case study because the Indian sub-continent has a wide landscape and rich cultural heritage presenting itself as a potential hub for economic activities. A thorough assessment has been made for the period January 2020- June 2020. The assessment will be beneficial to observe the long-term impact of any infectious disease outbreak such as COVID-19 locally and globally. © 2021 Elsevier Ltd
format Article
author Gupta, V.
Santosh, K.C.
Arora, R.
Ciano, T.
Kalid, K.S.
Mohan, S.
spellingShingle Gupta, V.
Santosh, K.C.
Arora, R.
Ciano, T.
Kalid, K.S.
Mohan, S.
Socioeconomic impact due to COVID-19: An empirical assessment
author_sort Gupta, V.
title Socioeconomic impact due to COVID-19: An empirical assessment
title_short Socioeconomic impact due to COVID-19: An empirical assessment
title_full Socioeconomic impact due to COVID-19: An empirical assessment
title_fullStr Socioeconomic impact due to COVID-19: An empirical assessment
title_full_unstemmed Socioeconomic impact due to COVID-19: An empirical assessment
title_sort socioeconomic impact due to covid-19: an empirical assessment
publisher Elsevier Ltd
publishDate 2022
url https://www.scopus.com/inward/record.uri?eid=2-s2.0-85120935417&doi=10.1016%2fj.ipm.2021.102810&partnerID=40&md5=a27b351c2355c019399255f91a7e3127
http://eprints.utp.edu.my/28638/
_version_ 1741197134358642688
score 11.62408

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