COVID-19 and Long-Term Economic Growth
Australian Economic Review
; 2023.
Article
in English
| Scopus | ID: covidwho-2262154
ABSTRACT
This article investigates the impact of the COVID-19 pandemic on the long-term economic growth of South Africa. We embed an epidemiological model in a modified Solow–Swan model and explore various channels such as morbidity, mortality, unemployment, loss of school days and capital accumulation. We demonstrate that COVID-19 will lower the average annual growth rate of GDP per capita of South Africa by 0.07 percentage points in the next four decades, a 25 per cent decline relative to the no-COVID benchmark. We show that human capital losses due to school closures account for more than half of the economic slowdown. © 2023 The Authors. The Australian Economic Review published by John Wiley & Sons Australia, Ltd on behalf of The University of Melbourne, Melbourne Institute Applied Economic & Social Research, Faculty of Business and Economics.
Full text:
Available
Collection:
Databases of international organizations
Database:
Scopus
Topics:
Long Covid
Language:
English
Journal:
Australian Economic Review
Year:
2023
Document Type:
Article
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