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South Asia Economic Focus, Fall 2020: Beaten or Broken? Informality and COVID-19

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dc.contributor.authorWorld Bank
dc.date.accessioned2020-09-25T17:19:14Z
dc.date.available2020-09-25T17:19:14Z
dc.date.issued2020-10-08
dc.description.abstractThe COVID-19 pandemic, which is still impacting South Asia, has temporarily brought the region to a near standstill. Governments proactively stabilized activity through monetary easing, fiscal stimulus, and supportive financial regulation, but the situation is fragile amid weak buffers and exhausted policy tools. South Asia’s GDP is expected to contract 7.7 percent this year, by far the largest decline on record, but uncertainty around the forecast is substantial. The informal economy in South Asia has been hit hard. Many unorganized workers, self-employed people and microenterprises have experienced a large drop in earnings as the service sectors that were affected most by the lockdowns are dominated by informality. Informal workers and firms tend to have inadequate mechanisms for coping with short-term demand and supply interruptions due to limited savings and constrained access to finance. While the poor have suffered severely during the crisis, many informal workers in the middle of the income distribution have experienced the greatest drop in earnings. Most of them are not covered by social insurance. The crisis lays bare complicated structural problems in the informal sector that need to be addressed.en
dc.identifierhttps://documents.worldbank.org/en/publication/documents-reports/documentdetail/898231602225467182/south-asia-economic-focus-fall-2020-beaten-or-broken-informality-and-covid-19
dc.identifier.doi10.1596/978-1-4648-1640-6
dc.identifier.isbn978-1-4648-1640-6
dc.identifier.urihttps://hdl.handle.net/10986/34517
dc.publisherWashington, DC: World Bank
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC POLICY
dc.subjectECONOMIC RISKS
dc.subjectEXTERNAL BALANCE
dc.subjectFISCAL TRENDS
dc.subjectINFLATION
dc.subjectINVESTMENT
dc.subjectMACROECONOMIC POLICY
dc.subjectTRADE POLICY
dc.subjectCORONAVIRUS
dc.subjectCOVID-19
dc.subjectPANDEMIC IMPACT
dc.subjectPANDEMIC RESPONSE
dc.subjectINFORMALITY
dc.subjectLABOR MARKET
dc.titleSouth Asia Economic Focus, Fall 2020en
dc.title.subtitleBeaten or Broken? Informality and COVID-19en
dc.typeSerialen
dc.typeSérielfr
dc.typeSeriales
dspace.entity.typePublication
okr.crossref.titleSouth Asia Economic Update October, 2020
okr.date.disclosure2020-10-08
okr.doctypePublications & Research
okr.doctypePublications & Research::Publication
okr.guid898231602225467182
okr.identifier.doi10.1016/978-1-4648-1640-6
okr.identifier.doi10.1596/978-1-4648-1640-6
okr.identifier.report153600
okr.language.supporteden
okr.region.administrativeSouth Asia
okr.region.geographicalSouth Asia
okr.topicMacroeconomics and Economic Growth::Business Cycles and Stabilization Policies
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicMacroeconomics and Economic Growth::Economic Policy, Institutions and Governance
okr.topicMacroeconomics and Economic Growth::Fiscal & Monetary Policy
okr.topicPoverty Reduction::Employment and Shared Growth
okr.topicSocial Protections and Labor::Employment and Unemployment
okr.topicSocial Protections and Labor::Labor Markets
okr.unitSARCE
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