Luohan Academy

The COVID-19 Pandemic: Shocks, Global Transmission and Vulnerabilities

A precondition for calibrating the right doses of monetary and fiscal stimuli consistent with the ongoing campaign of COVID-19 containment is a better understanding of the nature of COVID-19 pandemic and other shocks, as well as the channels through which such shocks propagate within and across the borders. This report disentangles the major shocks during the COVID-19 crisis and examines the strengths of various cross-border transmission channels of the shocks and their real and financial consequences. It emphasizes the main short-term challenges as well as longer-term vulnerabilities.
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