Keywords
entrepreneurship
employment
gross domestic product
inflation
How to Cite
Abstract
The COVID-19 pandemic has caused greater challenge for the investors and policymakers to mitigate the consequences of this pandemic. Through a review of the literature on the economics of the coronavirus (COVID-19) pandemic, this study explores the effects of the pandemic on the entrepreneurship taking in to account the gross domestic product, employment, and inflation (consumer price index) of Ethiopia during the first years of the pandemic. The review reveals that adverse economic effects have been observed due to the COVID-19 pandemic in addition to fatalities. The pandemic has influenced in a negative way the country’s economy by reducing the GDP growth which has been recorded as one of the fastest economies for the last decade. The partial shutdown taken by the government as a response of the pandemic has led million lose their work increasing the unemployment rate and thus triggering inflation on consumers goods.
References
Akter, S. (2020). The Impact Of COVID-19 Related ‘Stay-At-Home’ Restrictions On Food Prices In Europe: Findings From A Preliminary Analysis. 12, 4(719–725). Food Security, Forthcoming. (Https://Doi.Org/10. 1007/S12571-020-01082-3).
Alberto Cavallo. (2020). Inflation With COVID-19 Consumption Baskets. Harvard Business School & NBER.
Angelos Delivorias And Nicole Scholz. (2020). Economic Impact Of Epidemics And Pandemics. PRS | European Parliamentary Research Service.
Barro, Robert J., Jose F. Urs ´ Ua, And Joanna Weng. ´ (2020). The Coronavirus And The Great Influenza Pandemic: Lessons From The “Spanish Flu” For The Coronavirus’s Potential Effects On Mortality And Economic Activity. NBER Working Paper 26866.
Brainerd, Elizabeth, And Mark Siegler. (2003). The Economic Effects Of The 1918 Influenza Epidemic. CEPR Discussion Paper 3791.
Buck T, Arnold M, Chazan G, Cookson C. (2020) Coronavirus Declared A Pandemic As Fears Of Economic Crisis Mount. Available From: Https://Www.Ft.Com/Content/D72f1e54-6396-11ea-B3f3-Fe4680ea68b5.
Cepheus Research And Analytics (2020). Ethiopia’s GDP Statistics: A Data Pack And Some Observations.
De Paulo Farias, D., & De Araújo, F. F. (2020). Will COVID-19 Affect Food Supply In Distribution Centers Of Brazilian Regions Affected By The Pandemic? Trends In Food Science & Technology, 103, 361–366.
Donthu, N., & Gustafsson, A. (2020). Effects Of COVID-19 On Business And Research. Journal Of Business Research, 117, 284-289. Https://Doi.Org/10.1016/J.Jbusres.2020.06.008
Erikson, S. (2020). Pandemics Show Us What Government Is For. Nature Human Behavior, 4(5), 441– 442. Pandemics Show Us What Government Is For | Nature Human Behavior
Focus Economic. (2021). Ethiopia Economy - GDP, Inflation, CPI, And Interest Rate (Focus-Economics.Com).
Hahn, W. (2020). Livestock, Dairy, And Poultry Outlook, LDP-M-312. U.S. Department Of Agriculture, Economic Research Service.
Harris, J., Depenbusch, L., Pal, A. A., Nair, R. M., & Ramasamy S. (2020). Food System Disruption: Initial Livelihood And Dietary Effects Of COVID-19 On Vegetable Producers In India. Food Security, 12(4), 841–851.
Hirvonen K, Minten B, Mohammed B, Tamru S. (2021). Food Prices And Marketing Margins During The COVID-19 Pandemic: Evidence From Vegetable Value Chains In Ethiopia. Agricultural Economics.Https://Doi.Org/10.1111/Agec.12626
International Crisis Group. (2020). Managing The Politics Of Ethiopia’s COVID-19 Crisis | Crisis Group.
Intranational Labour Organization Monitor. (2021). COVID-19 And The World Of Work. Seventh Edition Updated Estimates And Analysis. Wcms_767028.Pdf (Ilo.Org).
Job Creation Commission. (2021). Basic Employment Statistics. Job Creation Commission – Job Creation Commission Ethiopia (Jobscommission.Gov.Et)
Johns Hopkins University. (2021). Coronavirus Resource Center. COVID-19 Map - Johns Hopkins Coronavirus Resource Center (Jhu.Edu)
Jorda, O., Singh, S. R., & Taylor, A. M. (2020). Longer-Run Economic Consequences Of Pandemics (Report No. W26934). National Bureau Of Economic Research.
Karlsson, Martin, Therese Nilsson, And Stefan Pichler. (2014). The Impact Of The 1918 Spanish Flu Epidemic On Economic Performance In Sweden: An Investigation Into The Consequences Of An Extraordinary Mortality Shock. Journal Of Health Economics 36(C): 1–19.
Kuckertz, A., Brandle L., Gaudig, A., Hinderer, S., Reyes, C.A.M., Prochotta, A., Steinbrink, K., Berger E.S., (2020). Startups In Times Of Crisis. A Rapid Response To The COVID-19 Pandemic. Journal Of Business Venturing Insight E0019.
Laborde, D., Martin, W., Swinnen, J., & Vos, R. (2020). Covid-19 Risks To Global Food Security. Science, 369(6503), 500–502.
Lele, U., Bansal, S., & Meenakshi J. V. (2020). Health And Nutrition Of India’s Labour Force And COVID-19 Challenges. Economic & Political Weekly, 55(21), 13.
Leonaris, Rey. (2011). Sustainable Entrepreneurship And Its Viability. Erasmus School Of Economics, Rotterdam.
Mead, D. C., & Liedholm, C. (1998). The Dynamics Of Micro And Small Enterprises In Developing Countries. World Development, 26(1). Https://Doi.Org/10.1016/S0305-750X(97)10010-9
Meltzer, Martin I., Nancy J. Cox, And Keiji Fukuda. 1999. The Economic Impact Of Pandemic Influenza In The United States: Priorities For Intervention. Emerging Infectious Diseases 5(5): 659–671.
Mogues, T. (2020). Food Markets During COVID-19. Special Series On Covid-19. Washington DC: International Monetary Fund.
Moody’s Analytics (2021). Ethiopia Consumer Price Index (CPI) | Moody's Analytics (Economy.Com).
Narayan, S., & Saha, S. (2020). One Step Behind: The Government Of Indian And Agricultural Policy During The COVID-19 Lockdown. Review Of Agrarian Studies, Forthcoming. 10(1), 111–127.
National Bank Of Ethiopia. (2019). The Annual 2018/19 Report. Addis Ababa, Ethiopia.
National Planning Commission. (2016). Federal Democratic Republic Of Ethiopia Growth And Transformation Plan II (GTP II) (2015/16-2019/20).
Nichter, S., & Goldmark, L. (2009). Small Firm Growth In Developing Countries. World Development, 37(9), 1453–1464. Https://Doi.Org/10.1016/J.Worlddev.2009.01.013
Reardon, T., Bellemare, M. F., & Zilberman, D. (2020). How COVID-19 May Disrupt Food Supply Chains In Developing Countries. In: J. Swinnen, And J. Mcdermott (Eds.) COVID-19 And Global Food Security. Washington DC: IFPRI
Sohrabi C, Alsafi Z, O‟Neill N, Khan M, Kerwan A, Al-Jabir A, Et Al. (2020). World Health Organization Declares Global Emergency: A Review Of The 2019 Novel Coronavirus (COVID19). Int J Surg.
SPX | S&P 500 Index | Marketwatch [Internet]. Available From: Https://Www.Marketwatch.Com/Investing/Index/Spx.
Stinchcombe, Arthur L. (1968). Social Structure And Organizations. University Of Chicago. Wallace, S. L. (1999). Social Entrepreneurship: The Role Of Social Purpose Enterprises In Facilitating Community Economic Development. Journal Of Developmental Entrepreneurship, 4(2), 153–174.
Swinnen, J., & Mcdermott, J. (2020). COVID-19 And Global Food Security. Washington DC: IFPRI.
Tesso, G. (2020). Review Of The Impact Of COVID-19 On Economic Growth, Unemployment And Progress Out Of Poverty In Ethiopia. Impact Of COVID-19 On Ethiopian Economy.
The World Bank. (2021). Ethiopian Overview. Ethiopia Overview: Development News, Research, Data | World Bank
Torero, M. (2020). Without Food, There Can Be No Exit From The Pandemic. Nature, 580, 588–589
World Economic Forum. (2019). Outbreak Readiness And Business Impact Protecting Lives And Livelihoods Across The Global Economy. In Collaboration With Harvard Global Health Institute. White Paper.
World Health Organization. (2021). Ethiopia: WHO Coronavirus Disease (COVID-19) Dashboard | WHO Coronavirus Disease (COVID-19) Dashboard.
Yu, X., Liu, C., Wang, H., & Feil, J. H. (2020). The Impact Of COVID19 On Food Prices In China: Evidence Of Four Major Food Products From Beijing, Shandong, And Hubei Provinces. China Agricultural Economic Review, 12(3), 445–458. Engineering,Vol.26,Pp.277-287,2006., Surface And Coatings Technology,Vol..202,Pp.2152-2161,2008.
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Copyright (c) 2022 Modern Management Review