Covid-19 Pandemic and Pakistan Economy: A Preliminary Survey
DOI:
https://doi.org/10.47067/reads.v6i2.222Abstract
The impact of pandemic Covid-19 appears to be quite uncertain across globe. The nations are trying to overcome its impact on their economies. It has affected the production, distribution and life style. Coronavirus pandemic has taken more than 5 lacs lives globally and paralysed the global economy. The developing countries like Pakistan expect to face substantial economic set back from this situation. This study analyses the impact of Covid-19 pandemic on Pakistan economy through observing the relationship between incidence of cases and number of tests conducted. Furthermore, it examines the impact of the demand-side and supply-side shocks due to Covid-19 pandemic on Pakistan economy. On supply side, this pandemic has halted the domestic and international supply chain, causing a shortage of inputs and necessities. On demand-side, decreased domestic and international demand have resulted in massive layoffs and poverty scares. Government and State Bank of Pakistan have announced different relief packages for controlling the situation but due to poor health infrastructure and lack of social protection, the people remain vulnerable to medical and financial misery. These unprecedented circumstances call for immediate policy changes for saving millions of people from virus and poverty.
References
Ahmad, K., Long, W. (2012). Environmental Kuznets curve and Pakistan: an empirical analysis. Procedia Economics and Finance, 1, 4-13.
Alam, S., Rehman, S., Butt, M. S (2011). Trade liberalization, environmental degradation and sustainable development in Pakistan, European Journal of Social Sciences, 19(1), 84-96
Ali, Z. (2015). The effect of international trade on co2 emission evidence from Pakistan: Journal of Economic and sustainable development, 6(9), 2222-2855.
Antweiler, W.,Copeland, B. R.,Taylor, M. S.(1998). Is free trade good for the environment? National bureau of economic research No. W 6707
Cole, M. A. (2003). Development, trade, and the environment: how robust is the Environmental Kuznets Curve? Environment and Development Economics, 8(04), 557-580.
Cole, M. A.,Elliott, R. J. (2003). Determining the trade–environment and composition effect: the role of capital, labor and environmental regulations, Journal of Environmental Economics and Management, 46(3), 363-383.
Dean, J. M. (2000). Does trade liberalization harm the environment? A new test. Canadian Journal of Economics/Revue canadienne d'économique, 35(4), 819-842
Dinda, S.(2006). Globalization and Environment: Can Pollution Haven Hypothesis alone explain the impact of Globalization on Environment?
Ederington,J.,Levinson,A.,Minier, J. (2004). Trade liberalization and pollution havens. Advances in Economic Analysis & Policy No 3(2)
Grossman, G. M.,Krueger, A. B., (1991). Environmental impacts of a North American free trade agreement National Bureau of Economic Research.
Ismail, M.,Salem, M.,Shahzad, K. (2014). Environmental Kuznets Curve and SO2 Emission in Pakistan, Research Journal of Environmental and Earth Sciences, 6(4), 195-200.
Managi,S.(2004), Trade liberalization and the environment: carbon dioxide for 1960-1999, Economics Bulletin, 17(1), 1-5.
Nasir, M.,Rehman, F. U. (2011). Environmental Kuznets curve for carbon emissions in Pakistan: an empirical investigation. Energy Policy, 39(3), 1857-1864.
Shahbaz, M., Lean, H. H.,Shabbier, M. S. (2012). Environmental Kuznets curve hypothesis in Pakistan: co integration and Granger causality. Renewable and Sustainable Energy Reviews, 16(5), 2947-2953
