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The long reach of COVID-19: multilateral policy priorities to limit persistent divergences

Author

Listed:
  • Gita Gopinath

    (IMF)

  • Petya Koeva Brooks

    (IMF)

  • Malhar Nabar

    (IMF)

Abstract

After a synchronized deep downturn in 2020, an uneven global recovery is underway. Differences in vaccine access and the size of policy support have shaped cross-country divergences in the rebound. The disparities in the strength of recovery are expected to persist into the medium term. A concerted multilateral effort is needed to limit these divergences, including through accelerating global access to vaccines, investing in climate change mitigation and adaptation, and ensuring financially vulnerable economies have access to international liquidity.

Suggested Citation

  • Gita Gopinath & Petya Koeva Brooks & Malhar Nabar, 2021. "The long reach of COVID-19: multilateral policy priorities to limit persistent divergences," Indian Economic Review, Springer, vol. 56(2), pages 527-538, December.
    • Handle: RePEc:spr:inecre:v:56:y:2021:i:2:d:10.1007_s41775-021-00126-5
    DOI: 10.1007/s41775-021-00126-5
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    References listed on IDEAS

    as
    1. Valerie Cerra & Sweta Chaman Saxena, 2008. "Growth Dynamics: The Myth of Economic Recovery," American Economic Review, American Economic Association, vol. 98(1), pages 439-457, March.
    2. Olivier Blanchard & Eugenio Cerutti & Lawrence Summers, 2015. "Inflation and Activity – Two Explorations and their Monetary Policy Implications," NBER Working Papers 21726, National Bureau of Economic Research, Inc.
    3. Ruchir Agarwal & Ms. Gita Gopinath, 2021. "A Proposal to End the COVID-19 Pandemic," IMF Staff Discussion Notes 2021/004, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    COVID-19 pandemic; Uneven recovery; Divergences; Multilateral policies; International cooperation;
    All these keywords.

    JEL classification:

    • F3 - International Economics - - International Finance
    • I1 - Health, Education, and Welfare - - Health
    • O5 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies

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