Covid-19: Socio-Economic Implications and Effect of Government Policy Initiatives on Developing..

Using a pragmatist methodology and mixed method analysis, this study explores the socio-economic effects and impact of government policy initiatives on coronavirus on developed economies from a neoliberalist theoretical perspective.The impact of the virus on developed economies has been assessed using both quantitative and qualitative evidence. The coronavirus caused substantial mortality and morbidity in developed countries, and its rapid spread across countries and borders resulted in a global economic recession, according to the results of this study.To stop the virus from spreading, the government took a number of drastic steps, including restricting human freedom and travel. Closures of educational institutions, religious institutions, and corporations, prohibition of public events, and restrictions on domestic and international travel are examples of these steps. Furthermore, developed countries' economic crises were exacerbated by the prolonged lockdown steps taken to stop the virus from spreading.The pandemic is expected to slow economic growth, increase government debt, boost inflation, and exacerbate current account deficits. The pandemic's long-term effect in developing countries is a worsening of inequality and poverty, as well as the eradication of economic progress made in the previous two decades.

Please see the link - https://www.journalsajsse.com/index.php/SAJSSE/article/view/30220