Specific Macro Factors Affecting Economic Growth During the COVID-19 Pandemic : Evidence from EAGLEs

Authors

  •   Nguyen Ngoc Thach DirectoR, Institute for Research Science and Banking Technology, Banking University HCMC, 36 Ton That Dam, District 1, Ho Chi Minh City
  •   Nguyen Tran Xuan Linh Lecturer, Ho Chi Minh Industry and Trade College, 20 Tang Nhon Phu, District 9, Ho Chi Minh City
  •   Le Dinh Hac Chief, Faculty of Postgraduate Education, Banking University HCMC, 36 Ton That Dam, District 1, Ho Chi Minh City
  •   Lam Thai Bao Ngoc Lecturer, National Academy of Public Administration, 3/2 Street, 12 Ward, 10 District, Ho Chi Minh City
  •   Do Huu Hai Lecturer, Ho Chi Minh City University of Food Industry, 140 Le Trong Tan Street, Tan Phu District, Ho Chi Minh City

DOI:

https://doi.org/10.17010/ijf/2022/v16i3/168700

Keywords:

COVID-19 Pandemic

, Economic Growth, EAGLEs.

JEL Classification Codes

, E620, E430, O4.

Paper Submission Date

, April 23, 2021, Paper SentBack for Revision, June 6, Paper Acceptance Date, August 18, Paper Published Online, March 15, 2022.

Abstract

The study was conducted to assess the impact of macro factors on economic growth in emerging and growth-leading economies (EAGLEs) during the COVID-19 pandemic. The study applied a Bayesian simulation method, and the empirical results exhibited an ambiguous impact of trade openness and the number of internet users on economic growth in these countries during the COVID-19 outbreak. Besides, in response to the economic downturn caused by the COVID-19 pandemic, countries have loosened monetary and fiscal policies simultaneously. However, policy rate reduction was found to be less efficient in the countries previously applying low-interest rates. The evidence showed that reasonable pandemic control measures formed a basis for fastening economic recovery.

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Author Biographies

Nguyen Ngoc Thach, DirectoR, Institute for Research Science and Banking Technology, Banking University HCMC, 36 Ton That Dam, District 1, Ho Chi Minh City

ORCID iD : https://orcid.org/0000-0001-8822-2633

Do Huu Hai, Lecturer, Ho Chi Minh City University of Food Industry, 140 Le Trong Tan Street, Tan Phu District, Ho Chi Minh City

ORCID iD : https://orcid.org/0000-0001-5811-7154

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Published

2022-03-10

How to Cite

Thach, N. N., Linh, N. T. X., Hac, L. D., Ngoc, L. T. B., & Hai, D. H. (2022). Specific Macro Factors Affecting Economic Growth During the COVID-19 Pandemic : Evidence from EAGLEs. Indian Journal of Finance, 16(3), 8–27. https://doi.org/10.17010/ijf/2022/v16i3/168700

Issue

Volume 16, Issue 3, March 2022

Section

Articles
Crossref
Scopus
Google Scholar
Europe PMC

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