The COVID-19 pandemic combines the worst characteristics of many previous crises into a single extraordinary challenge. It features a simultaneous supply and demand shock; domestic, regional, and global scope; a projected long duration; and a high degree of uncertainty. What can be expected in terms of a recovery from the crisis in different countries and regions across the world? This seminar will discuss the projections for economic activity in 2020 and 2021 and the domestic and international conditions that may potentially limit or enable a recovery. It will also explore the need to balance short-term and long-term concerns during the crisis, as well as outline potential reforms to address the structural vulnerabilities that the pandemic has exposed.
Loayza, Norman V., Apurva Sanghi, Nurlina Binti Shaharuddin, and Lucie Johanna Wuester. September 2020. “Recovery from the Pandemic Crisis: Balancing Short-Term and Long-Term Concerns.” Research & Policy Brief 38, World Bank, Washington, DC.
This seminar is jointly sponsored by the World Bank Group Research and Development Center in Chile, the World Bank East Asia & Pacific Chief Economist Research Center, and the Center for Business Finance at the Business School of Universidad Adolfo Ibañez.
Professor and UAI Senior Fellow, School of Government (Universidad Adolfo Ibáñez)
Gian Maria Milesi-Ferretti