The Impact of Covid-19 and Inflation on the Industrial Production Index
Küçük Resim Yok
Tarih
2022
Yazarlar
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Yayıncı
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
Coronavirus (COVID-19) outbroke in December 2019 and then, spread all over the world. COVID-19 has affected countries not only in terms of health, but also socially, politically, and economically. The countries have taken many measures to overcome the effects of the outbreak. However, these measures have devastating effects on the economies. This global pandemic crisis has caused a decline in economic activities. In these times, inflation was one of the most important indicators affecting all economic activities. For example, with the pandemic, there has been an increase in the inflation rate. Then, rising inflation rates caused an increase in industrial production prices. Therefore, it is important to evaluate the effects of the COVID- 19 crisis together with inflation. For this purpose, this study considers the effects of inflation and COVID-19 on the industrial production index. For this purpose, the first 30 countries with the highest number of COVID-19 cases are evaluated. However, to create balanced panel data, 19 countries whose data can be accessed within these countries are considered. These countries are Belgium (BEL), Canada (CAN), France (FRA), Germany (DEU), Italy (ITL), Japan (JPN), Netherlands (NLD), Poland (POL), Portugal (PRT), Switzerland (SWE), Turkiye (TR), UK(GBR), USA, Brazil (BRA), Chile (CHL), Israel (ISR), Russia (RUS), Mexico (MEX), and South Africa (ZAF). In the study, monthly data for the period of March 2020-December 2020 were discussed. Spatial panel data models were analyzed by taking into account the spatial spread effect. The results obtained from the spatial panel data model show that inflation and COVID- 19 have a statistically significant effect on the industrial production index. The increase in the number of COVID- 19 cases reduces the industrial production index by 1%. Inflation and COVID-19 variables explain the industrial production index by approximately 50%.
Açıklama
Anahtar Kelimeler
Kaynak
Cumhuriyet Üniversitesi İktisadi ve İdari Bilimler Dergisi
WoS Q Değeri
Scopus Q Değeri
Cilt
23
Sayı
2
