Última modificación: 2022-09-28
Resumen
The recent Covid-19 pandemic also caused a global economic crisis, however, it had a different impact between high-income and low-income countries. The latest global estimates and country-level data shows that productivity, employment, household income and consumption rates, all struck down significantly, but uneven between countries. We present a neoclassical growth model, with a Richard’s production function that allows us to show the unequal impact according with the industrialization level and the country structural economy. We found that countries using lagged technology and low-skill workers are more affected by the Covid-19 impact. Likewise, the model proposes public policies that allow countries a faster recovery and avoid falling into the poverty trap.