Effects of Socioeconomic Characteristics on Income and Financial Behavior Amidst the COVID-19 Pandemic in the Democratic Republic of the Congo

17 Pages Posted: 11 Oct 2020

See all articles by Kulondwa Safari

Kulondwa Safari

Universite Evangelique En Afrique

Aganze Bisimwa

Universite Evangelique En Afrique

Date Written: September 2020

Abstract

The Democratic Republic of the Congo as many other countries across the world has been affected by the COVID-19 pandemic. The government of the country declared a state of emergency in March 2020, which restricted travels within and outside the country, schools were closed and many other public activities were suspended. The containment measures taken to limit the spread of this new virus had a negative impact on economic activities. The present study analyzes how different socioeconomic groups were affected financially by the adverse effects of the COVID-19 pandemic in the post conflict eastern region of the DRC. A sample of 312 individuals was selected in three provinces in the eastern part of the Democratic Republic of the Congo. Ordered logit models were applied. Findings reveal that the individuals who were mostly affected financially by the effects of COVID-19 were married, females, youth, public and private sector employees, self-employed individuals and low income earners. Their income has been reduced and they reduced their spending, savings and investments. The present study suggests that social interventions programs are needed and they should prioritize the most vulnerable socioeconomic groups.

Keywords: COVID-19, income, financial behavior, socioeconomic groups, Democratic Republic of Congo

JEL Classification: G50, G40

Suggested Citation

SAFARI, KULONDWA and BISIMWA, AGANZE, Effects of Socioeconomic Characteristics on Income and Financial Behavior Amidst the COVID-19 Pandemic in the Democratic Republic of the Congo (September 2020). Available at SSRN: https://ssrn.com/abstract=3705143 or http://dx.doi.org/10.2139/ssrn.3705143

KULONDWA SAFARI (Contact Author)

Universite Evangelique En Afrique ( email )

Bukavu
Congo, Democratic Republic of the (Zaire)

AGANZE BISIMWA

Universite Evangelique En Afrique ( email )

Bukavu
Congo, Democratic Republic of the (Zaire)

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
45
Abstract Views
865
PlumX Metrics