Coronavirus Disease 2019 (COVID-19): Its Ramifications on the Economy and Future Perspectives—A Review
Open Access
- 1 January 2021
- journal article
- review article
- Published by Scientific Research Publishing, Inc. in Modern Economy
- Vol. 12 (05), 944-959
- https://doi.org/10.4236/me.2021.125048
Abstract
The purpose of this paper is to review the existing literature and updates on positive and negative impacts of the trend of the COVID-19 pandemic on the economy, since no permanent solution has been found. Data drawn from various sources in the form of daily briefings of health and economic experts, bulletins and reports from UN agencies and other agencies were utilised. The study serves as a contribution to insight to enable policy makers to brace for the unexpected as the world is unfolding to unprecedented in the new millennial. It was found that measures such as lockdown, travel bans, closure of schools, churches and Mosques, restaurants, and bars were adopted to control the disease in the economy, as adopted in other parts of the world. The disease harmed the economies enormously, including trade, investments, and the fall in oil prices. The use of different types of nose masks, veronica buckets and sanitizers has been found in the Ghanaian market. Nonetheless, the number of cases is still on the rise due to improper usage and contamination of nose masks by people and the discovery of new variants of COVID-19 in other places has also exacerbated the problem. Currently, there is an approved vaccine to curb the virus in the country, but only a few selected categories of citizens have received first jab and many people do not follow the laid down protocols—a concern to surmount the spread of the pandemic in the country amidst the fear of a third variant of the virus emerging.Keywords
This publication has 38 references indexed in Scilit:
- The continuing 2019-nCoV epidemic threat of novel coronaviruses to global health — The latest 2019 novel coronavirus outbreak in Wuhan, ChinaInternational Journal of Infectious Diseases, 2020
- Literature review as a research methodology: An overview and guidelinesJournal of Business Research, 2019
- Nsp3 of coronaviruses: Structures and functions of a large multi-domain proteinAntiviral Research, 2017
- A cluster randomised trial of cloth masks compared with medical masks in healthcare workersBMJ Open, 2015
- Testing the Efficacy of Homemade Masks: Would They Protect in an Influenza Pandemic?Disaster Medicine and Public Health Preparedness, 2013
- Surgical Face Masks Worn by Patients with Multidrug-Resistant TuberculosisAmerican Journal of Respiratory and Critical Care Medicine, 2012
- Prevention of nosocomial transmission of swine-origin pandemic influenza virus A/H1N1 by infection control bundleJournal of Hospital Infection, 2010
- Impact of Non-Pharmaceutical Interventions on URIs and Influenza in Crowded, Urban HouseholdsPublic Health Reports, 2010
- Mask use, hand hygiene, and seasonal influenza-like illness among young adults: A randomized intervention trialThe Journal of Infectious Diseases, 2010