The Difference between The Worldwide Pandemic Economic Crisis (COVID-19) And The Global Financial Crisis (Year 2008)

Abstract

This research is willing to evaluate the behavior and characteristics of a worldwide pandemic economic crisis (COVID-19) and a global financial crisis in the year 2008. We propose a new indicator to compare these two types of crises. The new indicator is entitled “The economic leakage Index (L’).” The main objective is to evaluate the behavior of many qualitative and quantitative variables interacting simultaneously in the same graphical space and time. Hence, we have the chance to observe the characteristics and behavior of these two types of crises using real and experimental data to apply a large number of growth rates that are continually changing and give a live effect in the same graphical space. Finally, we can compare how each type of crisis trend and behavior in the short and long run, respectively.

Keywords: COVID-19, Econographicology, COVID-20, Transmission, Controls, Eradication

JEL Classification: B41