The Global Economic Recovery From COVID-19 Vaccinations
DOI:
https://doi.org/10.33423/jabe.v26i3.7140Keywords:
business, economics, computable general equilibrium (CGE) model, COVID-19 pandemic, vaccine inequityAbstract
The analysis examines the COVID-19 pandemic’s economy-wide global effects, assessing the impact on gross domestic product (GDP) through reduced labor supply and productivity in diverse sectors. Utilizing a Computable General Equilibrium model from the Global Trade Analysis Project database, the results highlight the pronounced influence on Light and Heavy manufacturing due to disrupted global supply chains. The vaccination’s effectiveness in economic recovery is emphasized, indicating increased labor participation and productivity. The study underscores vaccine disparities among developing nations, affecting global economic resurgence. Overall, it stresses the interconnectedness of COVID-19’s impact on national GDP, the manufacturing sectors, and the crucial role of vaccination in driving economic activity and global recovery.
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