Post-COVID Economic Recovery: Cross-Country Evidence
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Authors
Wu, Congsheng
Issue Date
2025-04-04
Type
Other
Language
en_US
Keywords
Economic recovery pandemic , Cross-country analysis , Fiscal stimulus policy
Alternative Title
Abstract
The outbreak of the COVID-19 pandemic in early 2020 caused tremendous damage to the global economy as well as human sufferings. By the time the World Health Organization (WTO) declared the end of the pandemic in May 2023, the cumulative cases worldwide stood at more than 765 million, with nearly seven million deaths. Numerous studies have examined the damage to the world economy. Wu (2024), for instance, shows that 81% of the economies surveyed by the World Bank suffered economic downturns in 2020. Global gross domestic product (GDP) declined by 3.29% in the year, compared to an average annual growth rate of 3.05% over the five years prior to the outbreak of the pandemic.
Description
College of Engineering, Business, and Education
Ernest C. Trefz School of Business
UB Rise 2025