Review of Impact of the Covid-19 Shock
DOI:
https://doi.org/10.37387/ipc.v11i2.351Keywords:
Shocks, Economy, PIB, Panama, PYMES, COVID-19Abstract
Shocks impact health. In the 20th century, smallpox killed around 300 million people, in 1918 the Spanish flu killed 50 million lives, and in 1975 the flu epidemic killed an additional 575,000. In 2020, Covid-19 emerged, generating a destructive sequel whose duration has not been determined. No government, entity, or individual was prepared to face it or had the experience to combat it. In the process, serious errors were committed in many countries due to the late supply of vaccines and the pattern of handling them, which not only cost lives, but also severely impacted the productive activities and well-being of their populations. The brewing recession comprises the largest losses suffered since the Great Depression excluding World War II. The global economy contracted by 3.3%, the Latin American by 7%, and the Panamanian by 17.9%. Deaths of more than 4 million people have been registered globally, of which more than 6,500 have occurred in Panama. "Panama became one of the most affected Latin American countries in the health and economic fields." The pandemic has affected GDP and employment more in Panama than in many other countries. Poverty and inequalities have increased with the risk of regressing in part what has been achieved in the last 30 years. Although public policy is aimed at recovering lost levels, in the short term an uneven global recovery could cause painful consequences for the health of the population, macroeconomic risks, and social consequences. Faced with this situation, the Government focused its efforts on increasing health spending, promoting prevention, detection and treatment measures, providing support to affected people, and providing liquidity to the financial system. This acted firmly to preserve human capital to foster future growth by introducing restrictions in the economic area and in relationships between people in order to reduce contagion.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2023 info:eu-repo/semantics/openAccess
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
1. The Publications Service of the Universidad Católica Santa María La Antigua (the publisher) preserves the patrimonial rights (copyright) of the published works, and favors and allows their reuse.
2. The magazine (and its contents) use Creative Commons licenses, specifically the CC BY NC SA type, where: "the beneficiary of the license has the right to copy, distribute, display and represent the work and make derivative works provided you acknowledge and cite the work in the manner specified by the author or licensor." Abstract: https://creativecommons.org/licenses/by-nc-sa/4.0/ license: https://creativecommons.org/licenses/by-nc-sa/4.0/legalcode
3. They can be copied, used, disseminated, transmitted and exhibited publicly, provided that: i) the authorship and the original source of its publication (magazine, publisher and URL, DOI of the work) are cited; ii) are not used for commercial purposes.
4. Conditions of self-archiving. Authors are encouraged to electronically disseminate the post-print versions (version evaluated and accepted for publication), as it favors their circulation and dissemination, increases their citation and reach among the academic community.