Covid-19 in Developing Countries

Monday, June 22, 2020

A new eBook published by the Centre for Economic Policy Research (CEPR) and the International Development Policy journal at the Graduate Institute in Geneva (IHEID), the latest in a series of volumes bringing together insights from leading economists on the economics of the current global health emergency, leading economists call on the international community to help save lives and livelihoods – and prevent long-term economic damage.

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In Developing Economies after COVID-19, co-editors Simeon Djankov and Ugo Panizza note that, whilst there is a large and rapidly growing body of research on the economic effects of COVID-19 in advanced economies, research that focuses on developing and emerging market countries is more limited. The latter face unique health and economic challenges, and differ both in the structure of their economies and the tools available to implement macroeconomic policies aimed at reducing the economic costs of the Covid-19 recession. 

In the new volume, CEPR Vice President Ugo Panizza and Simon Djankov, ex-director of the WDR 2019 and deputy prime minister and minister of finance of Bulgaria from 2009 to 2013, bring together top economists from major global institutions (World Bank, Bank for International Settlements, International Monetary Fund, European Bank of Reconstruction and Development, Asian Development Bank, and Inter-American Development Bank) to assess the unique impacts of the pandemic on developing and emerging markets and the distinct challenges that lie ahead.

The chapters discuss how the pandemic affects poverty, inequality and informality, discusses policy responses and highlight the macro-financial effects of the crisis, including a narrative on the role of the international financial institutions.