Munich Personal RePEc Archive

COVID-19 Pandemic: Socio-economic Response, Recovery and Reconstruction Policies on Major Global Sectors

Amir, Md. Khaled and Amir, Md Zobayer (2020): COVID-19 Pandemic: Socio-economic Response, Recovery and Reconstruction Policies on Major Global Sectors. Published in: SUSTAINABILITY & ECONOMICS eJOURNAL , Vol. 9, No. 88 (25 June 2020): pp. 1-27.

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Abstract

Since adopting all the possible plans, strategies, and containing measures to defy the outbreak of COVID-19 pandemic, the world fails to prevent rapid contagion of a novel coronavirus, breaks down the regular all-inclusive socio-economic channels, damages countless lives and livelihoods and forces global economic downturn could be facing world’s worst depression since the 1930s. This research paper has two phases amid and after the impact of novel coronavirus on global Scio-economy, can be mitigated by focusing and implementing effective responsive and reconstructive socio-economic plans and frameworks covering emergency financing, robust capital market, independence of the central bank, and sound banking sector, currency swap, liquidity facilities, tax relief, loan forbearance, and expanded unemployment insurance, concessional financing, grants, debt relief, global collaboration, innovating new diversified technologies, job transition, reskilling, re-deployment, setting watchdog for corruption, global collaboration, adding resilience, response, and re-configurability in existing supply chain metrics are essential to lighten the global socio-economic imbalances including financial distress, economic stress, food crisis, rising hunger, job layoffs, educational institutions closure, supply chain interruptions and shutting down businesses. Declining Carbon dioxide (CO2) emission creating an opportunity of establishing a low carbon economy and reducing air pollution and environmental crisis, a chance on focusing clean energy, and emphasize more on hi-tech like cloud computing and artificial intelligence are positive outcomes from coronavirus pandemic, will help to accelerate response and recovery plans against COVID-19.

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