Spillover effect of COVID-19 on the Global Economy

Forthcoming, Transnational Marketing Journal (TMJ), 8(2), 177-196.

16 Pages Posted: 7 Dec 2020 Last revised: 28 Dec 2020

See all articles by Hasnan Baber

Hasnan Baber

Woosong University; Abu Dhabi School of Management

Multiple version iconThere are 2 versions of this paper

Date Written: October 1, 2020


The current pandemic of COVID-19 has disrupted every aspect of life. From groceries to medicines, travel to events, sports to funerals, economics to politics and religion to social rights has been shaken up by this infectious virus. The impact of this pandemic is deep and will last until very long. The situation is severe in some countries and it is soon to estimate the exact influence of COVID-19 on the economy worldwide. The paper highlights the different facets of this pandemic at the beginning which are very important to understand the impact on the economy. The paper examines the effect of this crisis on the financial market, banking, hospitality, and health care. The study gathered the data from various reports published by the various organizations and institutions worldwide and the recent limited research literature available on this topic. The bitter truth which can be mined from the study is that pandemic will have a substantial and extended negative impact on the global economy, especially on the financial and hospitality industry.

Keywords: COVID-19, Economy, hospitality, tourism, Coronavirus, finance, healthcare, economic, pandemic

JEL Classification: A11, B21, B26, F00

Suggested Citation

Baber, Hasnan, Spillover effect of COVID-19 on the Global Economy (October 1, 2020). Forthcoming, Transnational Marketing Journal (TMJ), 8(2), 177-196., Available at SSRN: https://ssrn.com/abstract=3743111 or http://dx.doi.org/10.2139/ssrn.3743111

Hasnan Baber (Contact Author)

Woosong University ( email )

27 Baengnyong-ro 57beon-gil
Jayang-dong, Daejeon
Korea, Republic of (South Korea)

Abu Dhabi School of Management ( email )

Abu Dhabi
United Arab Emirates

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