Macroeconomic Pandemic Panorama of Developing Economies: A Special Case of Indian Economy

https://doi.org/10.33094/26410249.2021.34.101.113

Authors

  • NMP Verma Professor of Economics and former Vice Chancellor, BBAU, Lucknow, India.
  • Ravi Kant Assistant Professor at Shri Ram College of Commerce, University of Delhi, Delhi, India.

Abstract

The recent COVID-19 pandemic has adversely affected the socio-economic and political ecosystem across the economies. The externalities can be observed in all dimensions such as in labor market, manufacturing and services, transportation, and tourism. It has been observed that the populated developing economies have been severely impacted due to spread of pandemic. The rising health expenditure, increasing debt, labor migration, increase in unemployment, prices, and the loss of output are the major factors to drag these economies into vulnerability. The present study attempts to identify the numerous adverse externalities generated due to COVID-19 pandemic in the developing economies. The macroeconomic effect of pandemic on Indian economy has been discussed in the later section of the study.

Keywords:

COVID-19, Developing economies, Pandemic, Macroeconomic, Externalities.

How to Cite

Verma, N. ., & Kant, R. (2021). Macroeconomic Pandemic Panorama of Developing Economies: A Special Case of Indian Economy. Journal of Contemporary Research in Social Sciences, 3(4), 101–113. https://doi.org/10.33094/26410249.2021.34.101.113
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