The Economical and Financial Impact of COVID-19 Epidemic on Migrant Labor Force

IV. International Kaoru Ishikawa Congress on Business Administration and Economy 2020

8 Pages Posted: 11 Aug 2021

See all articles by Vedat Akman

Vedat Akman

Beykent University

İlkay Erarslan

Beykent University

Cevdet Kizil

Istanbul Medeniyet University

Date Written: October 14, 2020

Abstract

The objective of this study is to investigate the economic and financial effects of COVID-19 epidemic on migrant labor force. Literature review is the research design of this study. It is possible to achieve economic growth in the short term with some productivity-enhancing measures. However, what matters is the long-term economic growth. This is because, as the source of long-term economic growth and technological innovations, skilled labor force is more concrete. Therefore, for long-term economic growth, supply of skilled workforce is an indispensable precondition. Results are analyzed by comparing different resources, evaluating the literature and taking advantage of International Labor Organization (ILO) and Organization for Economic Co-operating and Development (OECD) statistics. According to study results, COVID-19 poses an unprecedented negative impact on working conditions of migrant work force. Migrant workers are among the most vulnerable in the global labor force affected by the COVID-19 epidemic. But, COVID-19 lock downs will particularly have the highest negative impact on low paid and low skilled (unskilled) migrant work force. Unskilled migrant workers are often excluded from national COVID-19 policy responses in hosting countries, such as wage subsidies, unemployment benefits or social security and social protection measures. Also, access to COVID-19 testing or medical treatment might not be available to unskilled migrant workers. Concerning conclusion and recommendations, migrant workers, should be integrated into risk pooling mechanisms to guarantee social insurance and universality of coverage and solidarity in financing. Health care related benefits can also assist to protect both migrant workers and their host countries.

Keywords: Finance, Economy, COVID-19, Labor Force, Immigration

JEL Classification: G010, I15, I320

Suggested Citation

Akman, Vedat and Erarslan, İlkay and Kizil, Cevdet, The Economical and Financial Impact of COVID-19 Epidemic on Migrant Labor Force (October 14, 2020). IV. International Kaoru Ishikawa Congress on Business Administration and Economy 2020, Available at SSRN: https://ssrn.com/abstract=3899331 or http://dx.doi.org/10.2139/ssrn.3899331

Vedat Akman

Beykent University ( email )

Buyukcekmece
Istanbul, 34900
Turkey

İlkay Erarslan

Beykent University ( email )

Buyukcekmece
Istanbul, 34900
Turkey

Cevdet Kizil (Contact Author)

Istanbul Medeniyet University ( email )

D-100 Karayolu
Merdivenkoy Mevkii No:6/1 Goztepe/Kadıkoy
Istanbul
Turkey

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

Paper statistics

Downloads
22
Abstract Views
174
PlumX Metrics