The Russian airplane crash in 2015 has severely affected the tourism industry in Egypt. The present article is focused on the impacts of economic, political, and social impacts on Egyptian tourism after this crisis. The present study aimed at dealing with the crisis to mitigate the consequences and allow the companies to make the best use of it to restore their business. The present article has also discussed the crisis impacts on the financial situation of company A which is one of the top five hospitality companies in Egypt. Crisis management and investments in human resources were the most effective strategies to overcome the harsh consequences of the crisis on tourism sector. The present study data is based on the Egyptian ministry of tourism figures, internet, articles, and international channels reports aimed to explain how the political, social, and economic events had a negative impact on the hotel industry in Egypt.
{"title":"Impacts, Sustanability and Resilience on the Egyptian Tourism and Hospitality Industry after the Russian Airplane crash in 2015.","authors":"Stéphane Goutte, Said EL ATIEK","doi":"10.2139/ssrn.3949372","DOIUrl":"https://doi.org/10.2139/ssrn.3949372","url":null,"abstract":"The Russian airplane crash in 2015 has severely affected the tourism industry in Egypt. The present article is focused on the impacts of economic, political, and social impacts on Egyptian tourism after this crisis. The present study aimed at dealing with the crisis to mitigate the consequences and allow the companies to make the best use of it to restore their business. The present article has also discussed the crisis impacts on the financial situation of company A which is one of the top five hospitality companies in Egypt. Crisis management and investments in human resources were the most effective strategies to overcome the harsh consequences of the crisis on tourism sector. The present study data is based on the Egyptian ministry of tourism figures, internet, articles, and international channels reports aimed to explain how the political, social, and economic events had a negative impact on the hotel industry in Egypt.","PeriodicalId":208134,"journal":{"name":"PSN: Other Domestic Development Strategies (Topic)","volume":"44 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130568037","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Current US immigration policy assigns the government the onus of choosing winners and losers among those seeking to immigrate to the US. This mechanism is inefficient, particularly because it excludes many talented foreign workers from filling jobs in the US technology sector, where there is a shortage of skilled workers. We advocate for a market-based approach to allocating visa slots to high-skilled foreign workers. In our model, aspiring workers can purchase an immigration visa for a sufficiently high price that provides a straightforward pathway to citizenship. This price can be paid off over time, similar to how homeowners pay their mortgage. Using the existing H-1B visa program as a model, we outline how implementing this policy would work.
{"title":"Selling Immigration Visas: A Market-Based Approach to Boost American Innovation","authors":"Sara Hickman, Korok Ray","doi":"10.2139/ssrn.3947234","DOIUrl":"https://doi.org/10.2139/ssrn.3947234","url":null,"abstract":"Current US immigration policy assigns the government the onus of choosing winners and losers among those seeking to immigrate to the US. This mechanism is inefficient, particularly because it excludes many talented foreign workers from filling jobs in the US technology sector, where there is a shortage of skilled workers. We advocate for a market-based approach to allocating visa slots to high-skilled foreign workers. In our model, aspiring workers can purchase an immigration visa for a sufficiently high price that provides a straightforward pathway to citizenship. This price can be paid off over time, similar to how homeowners pay their mortgage. Using the existing H-1B visa program as a model, we outline how implementing this policy would work.","PeriodicalId":208134,"journal":{"name":"PSN: Other Domestic Development Strategies (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134490322","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
As peer-to-peer sharing platforms emerge in the downstream market, upstream product manufacturers may build their exclusive sharing platform to engage with the sharing economy. However, it is not immediately clear whether this strategic move would truly benefit the manufacturer. Using a quality-differentiated two-manufacturer framework, we examine the performance of the platform-building strategy for the high-quality manufacturer facing an existing peer-to-peer sharing platform that exhibits ex-ante uncertainty in the quality of the shared products. We show that without its own platform, the manufacturer's sales volume decreases and its profit is hurt by the emergence of sharing economy. We further establish conditions for the economic viability of the platform-building strategy; specifically, if quality differentiation is large and the selling price is not high, then the platform-building strategy may help the manufacturer increase sales and improve profit. The manufacturer effectively reduces its competitor's product quality by building its own platform, because such an exclusive platform can attract the high-quality product owners away from the competitor. As such, the platform-building strategy can achieve quality differentiation in a non-conventional manner -- a novel result among the studies of vertical competition. We also highlight the evolution of the sharing economy ecosystem and its implications on the effectiveness of a platform-building strategy. Furthermore, we study the impact of several key system parameters such as usage level, percentage of sharing owners, and participation costs on profits. Our research shows how quality differentiation may lead to the success of the platform-building strategy, and thus offers important prescriptive managerial insights for firms to properly implement this innovative strategy.
{"title":"Peer-to-Peer Sharing Platforms with Quality Differentiation: Manufacturer’s Strategic Decision under Sharing Economy","authors":"Huiqi Guan, Xin Geng, H. Gurnani","doi":"10.2139/ssrn.3923163","DOIUrl":"https://doi.org/10.2139/ssrn.3923163","url":null,"abstract":"As peer-to-peer sharing platforms emerge in the downstream market, upstream product manufacturers may build their exclusive sharing platform to engage with the sharing economy. However, it is not immediately clear whether this strategic move would truly benefit the manufacturer. Using a quality-differentiated two-manufacturer framework, we examine the performance of the platform-building strategy for the high-quality manufacturer facing an existing peer-to-peer sharing platform that exhibits ex-ante uncertainty in the quality of the shared products. We show that without its own platform, the manufacturer's sales volume decreases and its profit is hurt by the emergence of sharing economy. We further establish conditions for the economic viability of the platform-building strategy; specifically, if quality differentiation is large and the selling price is not high, then the platform-building strategy may help the manufacturer increase sales and improve profit. The manufacturer effectively reduces its competitor's product quality by building its own platform, because such an exclusive platform can attract the high-quality product owners away from the competitor. As such, the platform-building strategy can achieve quality differentiation in a non-conventional manner -- a novel result among the studies of vertical competition. We also highlight the evolution of the sharing economy ecosystem and its implications on the effectiveness of a platform-building strategy. Furthermore, we study the impact of several key system parameters such as usage level, percentage of sharing owners, and participation costs on profits. Our research shows how quality differentiation may lead to the success of the platform-building strategy, and thus offers important prescriptive managerial insights for firms to properly implement this innovative strategy.","PeriodicalId":208134,"journal":{"name":"PSN: Other Domestic Development Strategies (Topic)","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131872834","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We study the origin of comovement in economic fluctuations across regions in India through a unique administrative dataset on plant-level sales. Regional sales exhibit a high level of comovement that can be traced to a small number of large plants located in different regions, indicating a granular nature of regional comovement. Quantitatively, the top 10 plants from each region explain almost two-thirds of the total variation in regional comovement. We test three channels for comovement, viz. through aggregate regional trade, large granular plants, or granular multi-plant firms located in different regions. We nd that inter-region sales of multi-plant firms is the most dominant factor behind regional comovement and subsumes both aggregate trade and plant-level effects.
{"title":"Granular Origin of Comovement in Fluctuations","authors":"Anindya S. Chakrabati, Shekhar Tomar","doi":"10.2139/ssrn.3922938","DOIUrl":"https://doi.org/10.2139/ssrn.3922938","url":null,"abstract":"We study the origin of comovement in economic fluctuations across regions in India through a unique administrative dataset on plant-level sales. Regional sales exhibit a high level of comovement that can be traced to a small number of large plants located in different regions, indicating a granular nature of regional comovement. Quantitatively, the top 10 plants from each region explain almost two-thirds of the total variation in regional comovement. We test three channels for comovement, viz. through aggregate regional trade, large granular plants, or granular multi-plant firms located in different regions. We nd that inter-region sales of multi-plant firms is the most dominant factor behind regional comovement and subsumes both aggregate trade and plant-level effects.","PeriodicalId":208134,"journal":{"name":"PSN: Other Domestic Development Strategies (Topic)","volume":"12 7","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132815739","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
COVID–19 is the most serious shock in recent history, ironically unprecedented caused to country’s economy. The well-known way to control its spread is continues Sanitation with wearing face masks, washing hands, social distancing, isolating patients, and quarantining those who have been exposed to the virus. It is unpredictable and various Short and middle term, direct or indirect economic shocks were identified and it will significantly cause on health, education, business, investment, tourism, national security sectors in island. This desk study will express the impacts of COVID–19 on GDP, Labor market, poverty and Social and welfare activities. According to the information of Central bank, the economic failure caused by the new corona virus pandemic will last until the end of 2022. Therefore, it is estimated that the world economy will not recover by 2023 early. Similarly, it can expect some economic growth after 2023 in Sri Lanka. However, Sri Lanka cannot be escaped the upcoming economic issues as a middle-income country. Thus, it is highlighted the importance of researching and policy making to develop proper measures for minimize the future economic shocks of the country.
{"title":"The Impact of COVID-19 on Sri Lankan Economy","authors":"Dinithi Nandasena","doi":"10.2139/ssrn.3913806","DOIUrl":"https://doi.org/10.2139/ssrn.3913806","url":null,"abstract":"COVID–19 is the most serious shock in recent history, ironically unprecedented caused to country’s economy. The well-known way to control its spread is continues Sanitation with wearing face masks, washing hands, social distancing, isolating patients, and quarantining those who have been exposed to the virus. It is unpredictable and various Short and middle term, direct or indirect economic shocks were identified and it will significantly cause on health, education, business, investment, tourism, national security sectors in island. This desk study will express the impacts of COVID–19 on GDP, Labor market, poverty and Social and welfare activities. According to the information of Central bank, the economic failure caused by the new corona virus pandemic will last until the end of 2022. Therefore, it is estimated that the world economy will not recover by 2023 early. Similarly, it can expect some economic growth after 2023 in Sri Lanka. However, Sri Lanka cannot be escaped the upcoming economic issues as a middle-income country. Thus, it is highlighted the importance of researching and policy making to develop proper measures for minimize the future economic shocks of the country.","PeriodicalId":208134,"journal":{"name":"PSN: Other Domestic Development Strategies (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131350694","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The reporting of the first Sri Lankan case of COVID-19 in March 2020 led the government of Sri Lanka to quickly adopt a precautionary policy response and lockdown the entire country, restricting the movement of people. The main objective of the policy was to protect lives from the pandemic. The policy led a successful control of the pandemic as the number of cases and death reported was minimum. This policy however affected the economy badly as complete lockdown measures had negative impact on it. This study by analyzing monthly data in a univariate modelling framework found that export and import trade of the country was severely affected by the pandemic during the months of March, April and May. Extending the analysis to a second wave with a potential end in December 2020, the study estimates that the country's overall exports and imports will drop by 67% and 45% respectively due to the pandemic. Further, the negative shock created by the pandemic will disturb behavioral patterns of different components of exports and imports of the country significantly. The passive nature of policy responses adopted by the government in the face of the second wave of COVID-19 targets the maintenance of economic activities during the pandemic. If the policy, however, leads to a community level spread of the pandemic, it will create a huge and an extended negative impact on foreign trade and economy as the lifetime of the virus becomes endless and as a result it will have a lingering effect on the economy.
{"title":"The Impact of COVID-19 on Sri Lankan Economy","authors":"S. Udeshika","doi":"10.2139/ssrn.3912809","DOIUrl":"https://doi.org/10.2139/ssrn.3912809","url":null,"abstract":"The reporting of the first Sri Lankan case of COVID-19 in March 2020 led the government of Sri Lanka to quickly adopt a precautionary policy response and lockdown the entire country, restricting the movement of people. The main objective of the policy was to protect lives from the pandemic. The policy led a successful control of the pandemic as the number of cases and death reported was minimum. This policy however affected the economy badly as complete lockdown measures had negative impact on it. This study by analyzing monthly data in a univariate modelling framework found that export and import trade of the country was severely affected by the pandemic during the months of March, April and May. Extending the analysis to a second wave with a potential end in December 2020, the study estimates that the country's overall exports and imports will drop by 67% and 45% respectively due to the pandemic. Further, the negative shock created by the pandemic will disturb behavioral patterns of different components of exports and imports of the country significantly. The passive nature of policy responses adopted by the government in the face of the second wave of COVID-19 targets the maintenance of economic activities during the pandemic. If the policy, however, leads to a community level spread of the pandemic, it will create a huge and an extended negative impact on foreign trade and economy as the lifetime of the virus becomes endless and as a result it will have a lingering effect on the economy.","PeriodicalId":208134,"journal":{"name":"PSN: Other Domestic Development Strategies (Topic)","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123212998","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The most recently found Corona virus causes COVID 19, a communicable disease. COVID 19 was affected for more than 200 countries in the world. All of the affected countries have been looking for a safety precaution, and a few countries are investigating a specific Corona virus vaccination, but the situation has already spiraled out of control due to a lack of awareness and management. More than six months into the pandemic, Sri Lanka has made significant progress in controlling the spread of COVID 19; yet, the threat remains. This study examines that how the COVID 19 impact to Sri Lankan economy and discussed some economic aspects such as GDP, employment, inflation, exchange rate, house hold income etc. and how COVID 19 affected to those aspects. This study is based on secondary data which are already published data. Mainly gathered data from research articles, annual reports of CBSL. The COVID 19 epidemic has had a number of negative consequences for major revenue industries. Due to COVID 19 other countries economies also slowdown. That also highly impacted to Sri Lankan economy. Sri Lankan import expenditure increased and export income has come down. These scenarios descriptively analyzed by following chapters and presented some recommendations to rebuild the economy.
{"title":"Analyzing the Impact of COVID-19 on Sri Lankan Economy","authors":"Malinga Lakshan","doi":"10.2139/ssrn.3910973","DOIUrl":"https://doi.org/10.2139/ssrn.3910973","url":null,"abstract":"The most recently found Corona virus causes COVID 19, a communicable disease. COVID 19 was affected for more than 200 countries in the world. All of the affected countries have been looking for a safety precaution, and a few countries are investigating a specific Corona virus vaccination, but the situation has already spiraled out of control due to a lack of awareness and management. More than six months into the pandemic, Sri Lanka has made significant progress in controlling the spread of COVID 19; yet, the threat remains. This study examines that how the COVID 19 impact to Sri Lankan economy and discussed some economic aspects such as GDP, employment, inflation, exchange rate, house hold income etc. and how COVID 19 affected to those aspects. This study is based on secondary data which are already published data. Mainly gathered data from research articles, annual reports of CBSL. The COVID 19 epidemic has had a number of negative consequences for major revenue industries. Due to COVID 19 other countries economies also slowdown. That also highly impacted to Sri Lankan economy. Sri Lankan import expenditure increased and export income has come down. These scenarios descriptively analyzed by following chapters and presented some recommendations to rebuild the economy.","PeriodicalId":208134,"journal":{"name":"PSN: Other Domestic Development Strategies (Topic)","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127667947","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study focuses on tracing the early economic impacts of COVID-19. The pandemic has unleashed a global shock impacting all economies in several ways. The lockdowns have brought economic activity to a standstill, with the closure of businesses and halting of travel, trade and commerce. Even as the impact on sensitive sectors as trade, tourism and remittances are already becoming visible, it is imperative to understand how these are impacting economies in Asia. This article studies these impacts on Thailand and Sri Lanka, both of which being wired to the globalized world, are witnessing adverse impacts on earnings through exports and tourism as well as a huge decline in inward remittances. Even as countries beef up their health infrastructure, they also seek to restart international travel and trade. Hence, the role of the state is critical to pull the economies out of the deglobalization trends that are expected to gain pace in and beyond 2020. This section discusses how the first wave of COVID-19 pandemic affects the various components of exports and imports of Sri Lanka. The impact on the industrial/ manufacturing sector exports and its major components such as export of textile and garment products, petroleum products and rubber products based on the availability of monthly data are examined. The impact on exports of tea, rubber, coconut and total agricultural exports and components of imports is also analysed separately.This review paper the economic impact of covid-19 on Sri Lankan economy and the specific objectives are to identify the outbreak on the key economic income earning sector such as tourism, food and agriculture, exports of apparels and textiles and small and medium scale enterprises and reinvigorate the Sri Lankan economy.
{"title":"Impact of COVID-19 on the Sri Lanka Economy","authors":"Dinoshi Tharunya D.H.","doi":"10.2139/ssrn.3908956","DOIUrl":"https://doi.org/10.2139/ssrn.3908956","url":null,"abstract":"This study focuses on tracing the early economic impacts of COVID-19. The pandemic has unleashed a global shock impacting all economies in several ways. The lockdowns have brought economic activity to a standstill, with the closure of businesses and halting of travel, trade and commerce. Even as the impact on sensitive sectors as trade, tourism and remittances are already becoming visible, it is imperative to understand how these are impacting economies in Asia. This article studies these impacts on Thailand and Sri Lanka, both of which being wired to the globalized world, are witnessing adverse impacts on earnings through exports and tourism as well as a huge decline in inward remittances. Even as countries beef up their health infrastructure, they also seek to restart international travel and trade. Hence, the role of the state is critical to pull the economies out of the deglobalization trends that are expected to gain pace in and beyond 2020. This section discusses how the first wave of COVID-19 pandemic affects the various components of exports and imports of Sri Lanka. The impact on the industrial/ manufacturing sector exports and its major components such as export of textile and garment products, petroleum products and rubber products based on the availability of monthly data are examined. The impact on exports of tea, rubber, coconut and total agricultural exports and components of imports is also analysed separately.This review paper the economic impact of covid-19 on Sri Lankan economy and the specific objectives are to identify the outbreak on the key economic income earning sector such as tourism, food and agriculture, exports of apparels and textiles and small and medium scale enterprises and reinvigorate the Sri Lankan economy.","PeriodicalId":208134,"journal":{"name":"PSN: Other Domestic Development Strategies (Topic)","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132314554","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This report provides an introduction this COVID-19 and its impact of Sri Lanka Economy. This report is based on information about the COVID-19 epidemic from various sources. COVID-19 has spread over the world, prompting the World Health Organization to declare a worldwide emergency. In the context of Sri Lanka, the current study investigates the effects of COVID-19 on GDP, Employment, Inflation, Stock market performance, External sector performance and poverty. COVID-19 has a negative impact on both GDP and Employment in Sri Lanka, according to the analysis, despite the magnitude of the impact being substantially smaller than the South Asian average. Apart from that, ‘Panic buying’, disrupted local production and distribution, and import restrictions have all contributed to the economy’s inflationary pressures, with headline inflation leading the way.In addition to major macroeconomic effects, the study looked at COVID-19’s microeconomic effects by forecasting poverty. Due to reduced export earnings, external sector performance of Sri Lanka has weakened. Sri Lanka rupee has sharply depreciated against major currencies in the world. Finally, the COVID-19 welfare effect which is projected to be bigger than expected, will obstruct the country’s long-term economic progress. As a result, proper actions should be implemented to re-establish the economy while also controlling the pandemic’s spread.
{"title":"COVID-19 and Its Impact on the Sri Lankan Economy","authors":"R. Bandara","doi":"10.2139/ssrn.3911262","DOIUrl":"https://doi.org/10.2139/ssrn.3911262","url":null,"abstract":"This report provides an introduction this COVID-19 and its impact of Sri Lanka Economy. This report is based on information about the COVID-19 epidemic from various sources. COVID-19 has spread over the world, prompting the World Health Organization to declare a worldwide emergency. In the context of Sri Lanka, the current study investigates the effects of COVID-19 on GDP, Employment, Inflation, Stock market performance, External sector performance and poverty. COVID-19 has a negative impact on both GDP and Employment in Sri Lanka, according to the analysis, despite the magnitude of the impact being substantially smaller than the South Asian average. Apart from that, ‘Panic buying’, disrupted local production and distribution, and import restrictions have all contributed to the economy’s inflationary pressures, with headline inflation leading the way.In addition to major macroeconomic effects, the study looked at COVID-19’s microeconomic effects by forecasting poverty. Due to reduced export earnings, external sector performance of Sri Lanka has weakened. Sri Lanka rupee has sharply depreciated against major currencies in the world. Finally, the COVID-19 welfare effect which is projected to be bigger than expected, will obstruct the country’s long-term economic progress. As a result, proper actions should be implemented to re-establish the economy while also controlling the pandemic’s spread.","PeriodicalId":208134,"journal":{"name":"PSN: Other Domestic Development Strategies (Topic)","volume":"276 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121364534","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
COVID-19 is the communicable disease caused by the most recently discovered Corona virus. This disease was unknown to the world until the first case was identified in Wuhan, China and then it started spreading all over the world. Because of this situation the World Health Organization declared a global emergency condition due to the widespread of COVID-19 across the globe. More than 200 countries’ economy was affected by this COVID-19 pandemic. The countries which have been affected by COVID-19 are looking for a safety precaution while a few countries are doing a research to find the specific vaccine against Corona virus but now the situation has gone out of hand due to the lack of awareness and management. The present study comprehensively examines the impacts of COVID-19 on Sri Lankan economy. This study includes the impact of COVID-19 on GDP of Sri Lankan and how it has been reduced in this pandemic situation. However when comparing the GDP of Sri Lanka with the average South Asia countries it is lower than the average of South Asian countries. COVID-19 pandemic has affected the Employment in Sri Lanka as well. Sectors like hotel and restaurant, tourism and transport are the most affected by this COVID-19 breakout. Moreover, COVID-19 has drastically affected Colombo Stock Exchange in Sri Lanka, reporting a historical low in mid-March 2020. Because of the weaken performance in export and tourism, Sri Lankan rupee has sharply depreciated against major currencies in the world. The predictions reveal that there is a greater potential of increasing poverty within the country. Therefore, appropriate measures should be taken to regain the economy while controlling the spread of the pandemic.
{"title":"Analyzing the Impact of COVID-19 on Sri Lankan Economy","authors":"Ishak Akeel","doi":"10.2139/ssrn.3907819","DOIUrl":"https://doi.org/10.2139/ssrn.3907819","url":null,"abstract":"COVID-19 is the communicable disease caused by the most recently discovered Corona virus. This disease was unknown to the world until the first case was identified in Wuhan, China and then it started spreading all over the world. Because of this situation the World Health Organization declared a global emergency condition due to the widespread of COVID-19 across the globe. More than 200 countries’ economy was affected by this COVID-19 pandemic. The countries which have been affected by COVID-19 are looking for a safety precaution while a few countries are doing a research to find the specific vaccine against Corona virus but now the situation has gone out of hand due to the lack of awareness and management. The present study comprehensively examines the impacts of COVID-19 on Sri Lankan economy. This study includes the impact of COVID-19 on GDP of Sri Lankan and how it has been reduced in this pandemic situation. However when comparing the GDP of Sri Lanka with the average South Asia countries it is lower than the average of South Asian countries. COVID-19 pandemic has affected the Employment in Sri Lanka as well. Sectors like hotel and restaurant, tourism and transport are the most affected by this COVID-19 breakout. Moreover, COVID-19 has drastically affected Colombo Stock Exchange in Sri Lanka, reporting a historical low in mid-March 2020. Because of the weaken performance in export and tourism, Sri Lankan rupee has sharply depreciated against major currencies in the world. The predictions reveal that there is a greater potential of increasing poverty within the country. Therefore, appropriate measures should be taken to regain the economy while controlling the spread of the pandemic.","PeriodicalId":208134,"journal":{"name":"PSN: Other Domestic Development Strategies (Topic)","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133773662","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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