Good question

It's seems world order is going to change because of COVID 19. Countries have to redesign their policies for economic reliance and works towards self sustainable system.

Primary and secondary activities must be promoted with major emphasis on investment and the reasonable profit must reach to the genuine people involved in these activities.

Government agency must invest in the health care infrastructure and education sector to make people more skilled and self reliant for future.

Ghana is offering one billion Cedis loan offer to SMEs with flexible terms of payment with no interest. This is expected to assist them bounce back from the economic crisis as a result of the COVID-19 pandemic.

Dear Dr. Peykov!

I consider that synergy from climate change measures and policies for COVID-19 must be combined to generate positive outcome:

1) Ankit Mishra (2020). "3 Ways Governments Can Support A Sustainable Economic Recovery From COVID-19"" May 13, 2020, Forbes, Available at:

https://www.forbes.com/sites/ankitmishra/2020/05/13/3-ways-governments-can-support-a-sustainable-economic-recovery-from-covid-19/#3ff118217060

2) Martin Larkin (2020). " The European Green Deal must be at the heart of the COVID-19 recovery" 14 May 2020, World Economic Forum, Available at:

https://www.weforum.org/agenda/2020/05/the-european-green-deal-must-be-at-the-heart-of-the-covid-19-recovery/

In order to active potential benefits I really hope scientific industry-university research platforms could be launched globally and within the Eurasia region in particular. In so research projects could be implemented with regard to green energy options for transport, smart city infrastructure initiatives (e.g. in Health -related industries) and e-learning methods for the Higher Education sector.

Yours sincerely, Bulcsu Szekely

I got data from https://data.adb.org/dataset/covid-19-economic-impact-assessment-template so its damage a lot especially for developing countries. hope a good news coming.

Fear of the unknown

Economic activity during the COVID-19 pandemic will depend on certain factors:

1. When will current COVID-19 pandemic end?

2. When will an effective vaccine available to stall COVID-19 pandemic?

3. With many small businesses already closed, what would be the economic environment?

A difficult take when there are more questions than answers!

Until that time it is fear of the unkiwn.

The answer is simple:

1. Waiting for effective vaccine is not a solution (because the stomach of the poor people especailly the one working in informal sectors in the developing countries cannot wait for too long)

2. If the young people in those developing countries have the mentality to buy goods instead of trying to produce them for themselves, then they shall continue waiting and let God/goverment come to help them.

3. One of the realistic and short term solution is by motivating young people in developing countries to use locally available materials to build their own equipments that can reduce the risk of catching/spreading the virus but also allow normal economic activities.

This open source tutorial may show them the way to start economic activities safely:

https://youtu.be/GeJ20sy81_w

http://www.bremen-dynamics.com/Corona_Deactivation_Principle.htm

Good luck and stay safe!!!

Sustainable development is possible if investments are more in public health, agriculture, basic needs and education.

The world and great nations have to learn a lot

Thank you all for the valuable answers! Here is one interesting link of International Labour Organization (ILO) that gathers policy responses of 188 countries and territories. https://www.ilo.org/global/topics/coronavirus/country-responses/lang--en/index.htm#BG

If lockdown continues, economy will be destroyed. But if lockdown closed, people that work for economy will be affected largely. So indirectly economy will be destroyed soon.

So, all the developing countries start their regular work to save save economy but people's are getting affected in large number day by day. In my country, exactly this is going on.

Right now from my perception, Govt can give free treatment for Corona patients and close the lockdown to save economy. This will helpful to balance in certain points. But not the final solution.

Nikolay Peykov Following link may be helpful;

https://blogs.imf.org/2020/04/01/economic-policies-for-the-covid-19-war/

Nikolay Peykov Following link may be helpful;

https://blogs.worldbank.org/climatechange/planning-economic-recovery-covid-19-coronavirus-sustainability-checklist-policymakers

Nikolay Peykov Following link may be helpful;

https://www2.deloitte.com/us/en/insights/economy/covid-19/governments-respond-to-covid-19.html

Nikolay Peykov Following link may be helpful;

https://www.devex.com/news/socio-economic-challenges-must-be-addressed-in-covid-19-response-undp-chief-says-96954

من خلال الاعتماد على التعاون بين البلدان المختلفه

Adaptive measures or adaptability. is important. also refer to chapter 4 in my recent book: https://www.springer.com/cn/book/9789811554865

Good question

We have built multiple ensemble models to analyze the impact of Pandemic (increase in infection rate, mortality rate, spread, peak) on macroeconomic parameters, which in-turn will impact stocks and commodity sales. Hence used simulations then to predict the impact of different businesses and their recovery pattern at national and market levels.

Used techniques like nowcasting and DSGE

refer the paper, should this give you some idea:

Article 3Ps- Path, Pace and Pattern of Recovery from COVID-19 for Di...

https://www.researchgate.net/publication/342987831_SARS-COV-2_THREE_FORCING_SEASONALITIES_POLICIES_ENVIRONMENT_AND_URBAN_SPACES?_sg=LjbkMR4Cl6jFBYaz6X8vj6VPm-NqtGvcYh4Jp83OlF06BykYw-B52V3EwEeM8NaEiAmYS_b17GG1z-DM5DycQfhOmqbYif6tfmd0bE3u.S6oEyJTm1vN0KjqvlSyCkSYAR4cwcgewJV7eVdSqaTbV-HYTpKSYptJ7Y4o5Kuq-4AmA2JSI5I89LEKjE3in4Q

Nikolay Peykov

Let me start by sharing with you a personal experience.

I stay in Salt Lake City, Kolkata, India. Salt Lake City is a satellite town of Kolkata. Geographically it is a small town. But its significance lies somewhere else. The residents of Salt Lake City are all important persons of the society. They are highly educated, rich, successful and well known. This has made Salt Lake City, one of the richest zones of India.

The lock down started in India from 22 March, 2020. I was very surprised to see that after that, not too many residents of Salt Lake City were spending money. It is not because they lacked it. Most of them are multi-millionaires with big bungalows and costly cars. Still they were not ready to spent money. There was a gloom in the air. They were all a little afraid of the situation. As a result of this, the economy of this small town was getting shattered. The local government then started taking measures in a different way. They started interacting with the residents. The government officials were talking to the residents, counseling them, telling them about the available medical facilities, in case they got infected. The local government was bringing in visible changes. The roads were getting cleaned more regularly. Different types of insecticides were being sprayed. Sanitizers being sprayed. All these changed the situation. The residents started getting confidence. They were given courage. Once again, they were back to spending money.

I studied this entire phenomena, of course if it can be called a phenomena. I realized that initially the residents of this city were spending less money because they were too afraid of the COVID-19 pandemic. They had not seen anything like this before. When they were given confidence, they started reacting differently.

I think the most effective measure that can be taken to support economic activity in the COVID-19 environment, is to give confidence to the businesses. Easy allowance of loans, easy procurement of raw materials and purchase of technology, devising business strategies etc. are ways to give confidence to businesses. We also need to remember that businesses which are in ruins today, cannot turn their fortunes overnight and start running as before. We have to hold patience and persevere with them. Confidence, patience and perseverance mixed together produces the greatest of the miracles.

If we can give them all these three raw materials, we might just see them flying faster than jets, may be not over night, but they can do that.

Thank you,

Best regards,

Anamitra.

Increase government spending to prevent bankruptcies and unemployment rate from increasing.