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What is COVID-19 and Economics

Chapter 6
Handbook of Research on Changing Dynamics in Responsible and Sustainable Business in the Post-COVID-19 Era
The outbreak is a major destabilizing threat to the global economy. One estimate from an expert at Washington University in St. Louis gave a $300+ billion impact on the world’s supply chain that could last up to two years. Global stock markets fell on 24 February due to a significant rise in COVID-19 cases outside China. On 27 February, due to mounting worries about the COVID-19 outbreak, US stock indexes posted their sharpest falls since 2008, with the Dow falling 1,191 points (the largest one-day drop since the financial crisis of 2007–08) and all three major indexes ending the week down more than 10 per cent. On 28 February, Scope Ratings GmbH affirmed China’s sovereign credit rating but maintained a Negative Outlook. Stocks plunged again due to coronavirus fears, the largest fall being on 16 March.
Published in Chapter:
COVID-19 and the Electricity Market: A Strategic Planning Framework for Sustainable Management in the Time of Crisis
Nima Norouzi (Bournemouth University, UK)
Copyright: © 2022 |Pages: 21
DOI: 10.4018/978-1-6684-2523-7.ch006
Abstract
This chapter investigates the effects of COVID-19 on electricity consumption in some countries, especially in Iran. The effect of COVID-19 in the electricity industry and the amount of electricity consumption in Iran and in the countries that have been most affected have been studied. A study of COVID-19's impact on the world shows a reduction of about 15% in electricity demand during the short term of the COVID-19 outbreak. This amount varies from country to country. Studies show that the countries under study have experienced a relative decline in electricity demand in the short term, but with the continued prevalence of COVID-19 and the removal of some restrictions, the state of electricity consumption has more or less returned to pre-COVID-19 levels. It is worth noting that at the time of writing this chapter, the COVID-19 pandemic continues.
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Chapter 5
Energy Market in the Post-COVID-19 World: Structural Analysis of Critical Factors for China
The outbreak is a major destabilizing threat to the global economy. One estimate from an expert at Washington University in St. Louis gave a $300+ billion impact on the world’s supply chain that could last up to two years. Global stock markets fell on 24 February due to a significant rise in COVID-19 cases outside China. On 27 February, due to mounting worries about the COVID-19 outbreak, US stock indexes posted their sharpest falls since 2008, with the Dow falling 1,191 points (the largest one-day drop since the financial crisis of 2007–08) and all three major indexes ending the week down more than 10 per cent. On 28 February, Scope Ratings GmbH affirmed China’s sovereign credit rating but maintained a Negative Outlook. Stocks plunged again due to coronavirus fears, the largest fall being on 16 March.
Published in Chapter: Energy Market in the Post-COVID-19 World: Structural Analysis of Critical Factors for China; From: COVID-19 Pandemic Impact on New Economy Development and Societal Change
Full Text Chapter Download: US $37.50 Add to Cart
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