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The Impact of Covid-19 on France’s Economy with an Overview on The European Economy

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  • Dilara Sülün

Abstract

The coronavirus infection (COVID-19) occurred towards the end of 2019 and started spreading around the world in a short time with an immense impact on public health. However, it also affected global economy. This paper explores the economic impact of Covid-19 in France which is one of the countries most affected in Europe. We will first analyse the theoretical framework based on ‘demand and supply side shock’. We will then expose the economic impacts of Covid-19 on the French market, by evaluating the shocks on the demand and supply sides. The methodology of the study would consist of French governmental, Central Banks’ and international economic and financial data, including economic reports statistics, and forecasts of prominent international economic organizations as well as other relevant reports and data from the economic and financial literature. This paper is incorporated by extensive primary and secondary resources. Additionally, this article analyses the effects of Covid-19 on European countries. Within this prospect, European Union support measures and financial assistance is also covered as an extension to our research. Our findings cover economic projections for both France and the European Union and shows that economy cannot reach its pre-pandemic levels before 2022.

Suggested Citation

  • Dilara Sülün, 2020. "The Impact of Covid-19 on France’s Economy with an Overview on The European Economy," Journal of Research in Economics, Politics & Finance, Ersan ERSOY, vol. 5(SI), pages 115-136.
    • Handle: RePEc:ahs:journl:v:5:y:2020:i:si:p:115-136
    DOI: 10.30784/epfad.810739
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    References listed on IDEAS

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    1. Luca Fornaro & Martin Wolf, 2020. "Covid-19 coronavirus and macroeconomic policy," Economics Working Papers 1713, Department of Economics and Business, Universitat Pompeu Fabra.
    2. Veronica Guerrieri & Guido Lorenzoni & Ludwig Straub & Iván Werning, 2022. "Macroeconomic Implications of COVID-19: Can Negative Supply Shocks Cause Demand Shortages?," American Economic Review, American Economic Association, vol. 112(5), pages 1437-1474, May.
    3. Michal Andrle & Jan Bruha & Serhat Solmaz, 2013. "Inflation and Output Comovement in the Euro Area: Love at Second Sight?," Working Papers 2013/07, Czech National Bank.
    4. Paul Malliet & Frédéric Reynès & Gissela Landa & Meriem Hamdi-Cherif & Aurélien Saussay, 2020. "Assessing Short-Term and Long-Term Economic and Environmental Effects of the COVID-19 Crisis in France," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 76(4), pages 867-883, August.
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    More about this item

    Keywords

    Covid-19; International Economics; International Trade; France; European Union; Theory of Supply and Demand Shocks;
    All these keywords.

    JEL classification:

    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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