MANAGING THE ECONOMIES OF AFRICAN COUNTRIES DURING THE COVID-19 PANDEMIC–LESSONS FROM DEVELOPED COUNTRIES

Agbo, Elias Igwebuike (2020) MANAGING THE ECONOMIES OF AFRICAN COUNTRIES DURING THE COVID-19 PANDEMIC–LESSONS FROM DEVELOPED COUNTRIES. International Journal of Research in Management, 10 (6). pp. 1-14. ISSN 2249-5908

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Abstract

Coronavirus has become a matter of great concern to global health organizations. It has posed major challenges particularly to health care systems in African countries due to the dearth of equipment, paucity of funding and insufficient training of healthcare workers. This has necessitated the introduction of some mitigation measures that involve lockdown, quarantine, social distancing and personal hygiene. In addition, surveillance and screening have remained, whenever possible, effective mechanisms of viral controlling the viral spread. The aftermath of these lockdown and social distancing measures has been colossal losses in production, supply, trades, investments, and employment. The monetary policy decisions and travel restrictions also severely affected the level of economic activities as well as the stock prices of major stock market variables. This paper explores the policy evolution of macroeconomic effects during the coronavirus pandemic with a view to ascertaining the means for mitigating the economic losses and macroeconomic uncertainty,. The study also aims at demonstrating the potential impact of fiscal, monetary, and macro-financial policy measures on the economic losses caused by regulatory and quarantine measures. It suggests that in addition to continuing to search for an enduring cure of coronavirus, African countries should emulate the developed and other emerging market economies by implementing a comprehensive fiscal, monetary, and macro-financial policy to mitigate the pandemic‘s negative economic consequences.

Item Type: Article
Subjects: H Social Sciences > HC Economic History and Conditions
Divisions: Faculty of Management and Social Sciences
Depositing User: mrs chioma hannah
Date Deposited: 04 Oct 2021 10:03
Last Modified: 04 Oct 2021 10:03
URI: http://eprints.gouni.edu.ng/id/eprint/3193

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