Publication:
Crisis and Recovery: Learning from COVID-19’s Economic Impacts and Policy Responses in East Asia

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dc.contributor.authorWorld Bank
dc.date.accessioned2023-07-11T18:12:48Z
dc.date.available2023-07-11T18:12:48Z
dc.date.issued2023-07-11
dc.description.abstractMore than three years after the first COVID-19 case was discovered in the East Asia and Pacific (EAP) region, it is time to take stock of the lasting effects—and opportunities—of the pandemic and identify which policies may have helped stem the economic losses suffered by households and firms. To do so, this regional report examines the economic impact of the COVID-19 pandemic on households and firms in six countries: Cambodia, Indonesia, Malaysia, Mongolia, the Philippines, and Vietnam. This volume examines: (a) the links between impacts on firms and households, in particular through the employment channel, and (b) governments’ fiscal responses to the COVID crisis, through transfers, subsidies, and taxes. It identifies and explains changes in household well-being by examining the economic effects of the pandemic on labor markets. As the source of employment and wage income, businesses have a direct role in determining jobs and earnings, and, indirectly, welfare, poverty, and inequality. When faced with a shock, firms responded by adjusting employment, reducing wages, increasing prices, and reducing services provided. All of these channels directly affected households’ wellbeing. For this reason, the report focuses on firms in addition to households. Governments responded through various instruments, providing transfers and subsidies and lowering the tax burden to both households and firms.en
dc.identifierhttp://documents.worldbank.org/curated/en/099071023123018054/P1774140acbc60090092ea00bf2d4235cd2
dc.identifier.doi10.1596/39977
dc.identifier.urihttps://openknowledge.worldbank.org/handle/10986/39977
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.rightsCC BY-NC 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by-nc/3.0/igo
dc.subjectCOVID-19
dc.subjectECONOMIC IMPACTS
dc.subjectEMPLOYMENT
dc.subjectFISCAL SUPPORT
dc.subjectPOLICIES
dc.titleCrisis and Recoveryen
dc.title.subtitleLearning from COVID-19’s Economic Impacts and Policy Responses in East Asiaen
dc.typeReport
dspace.entity.typePublication
okr.crossref.titleCrisis and Recovery: Learning from COVID-19’s Economic Impacts and Policy Responses in East Asia
okr.date.disclosure2023-07-11
okr.date.lastmodified2023-07-10T00:00:00Zen
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/099071023123018054/P1774140acbc60090092ea00bf2d4235cd2
okr.guid099071023123018054
okr.guid099071023123027911
okr.identifier.docmidP177414-acbc60e0-2fac-4e90-92ea-0bf2d4235cd2
okr.identifier.doihttp://dx.doi.org/10.1596/39977
okr.identifier.doihttps://doi.org/10.1596/39977
okr.identifier.externaldocumentum34115011
okr.identifier.internaldocumentum34115011
okr.identifier.report183932
okr.import.id1054
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099071023123018054/pdf/P1774140acbc60090092ea00bf2d4235cd2.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryCambodia
okr.region.countryIndonesia
okr.region.countryMalaysia
okr.region.countryMongolia
okr.region.countryPhilippines
okr.region.countryViet Nam
okr.region.geographicalEast Asia
okr.sectorCentral Government (Central Agencies)
okr.themeData production, accessibility and use,Human Development and Gender,Data Development and Capacity Building,Social Protection,Social Development and Protection,Disease Control,Pandemic Response,Public Sector Management
okr.topicMacroeconomics and Economic Growth::Economic Forecasting
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicMacroeconomics and Economic Growth::Fiscal & Monetary Policy
okr.unitEFI-EAP-POV-Poverty and Equity (EEAPV)
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