IDEAS home Printed from https://ideas.repec.org/p/stm/dpaper/18.html
   My bibliography  Save this paper

Regional responses to the Covid-19 crisis: a comparative study from economic, policy, and institutional perspectives

Author

Listed:
  • Graciela Schiliuk

    (ESM)

  • Tullio Buccellato

    (ESM)

  • Jens Lapointe-Rohde

    (ESM)

  • Georgios Palaiodimos

    (ESM)

  • Habib Attia

    (Arab Monetary Fund (AMF))

  • Marthe Memoracion Hinojales

    (ASEAN + 3 Macroeconomic Research Office (AMRO))

  • Catharine Kho

    (ASEAN + 3 Macroeconomic Research Office (AMRO))

  • Gennady Vasiliev

    (Eurasian Fund for Stabilization and Development (EFSD))

  • Tigran Kostanyan

    (Eurasian Fund for Stabilization and Development (EFSD))

  • Alexandra de Carvalho

    (European Commission)

  • Benedetta Guerzoni

    (European Commission)

  • Carlos Giraldo

    (Latin American Reserve Fund (FLAR))

  • Iader Giraldo

    (Latin American Reserve Fund (FLAR))

Abstract

This study compares responses to the Covid-19 crisis across six regions covered by Regional Financing Arrangements (RFAs), outlining the pandemic’s economic impact, policy measures implemented by authorities to limit its economic damage, and the institutional actions by the RFAs to support members through the initial stages of the crisis. It is the result of a joint effort by RFA staff and underscores the institutions’ continuous efforts to cooperate closely through the sharing of crisis experiences.

Suggested Citation

  • Graciela Schiliuk & Tullio Buccellato & Jens Lapointe-Rohde & Georgios Palaiodimos & Habib Attia & Marthe Memoracion Hinojales & Catharine Kho & Gennady Vasiliev & Tigran Kostanyan & Alexandra de Carv, 2021. "Regional responses to the Covid-19 crisis: a comparative study from economic, policy, and institutional perspectives," Discussion Papers 18, European Stability Mechanism, revised 08 Nov 2021.
  • Handle: RePEc:stm:dpaper:18
    as

    Download full text from publisher

    File URL: https://www.esm.europa.eu/sites/default/files/document/2021-11/ESMDP18.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Bouabdallah, Othman & Checherita-Westphal, Cristina & Freier, Maximilian & Muggenthaler, Philip & Müller, Georg & Nerlich, Carolin & Sławińska, Kamila, 2020. "Automatic fiscal stabilisers in the euro area and the COVID-19 crisis," Economic Bulletin Articles, European Central Bank, vol. 6.
    2. Stefan Avdjiev & Egemen Eren & Patrick McGuire, 2020. "Dollar funding costs during the Covid-19 crisis through the lens of the FX swap market," BIS Bulletins 1, Bank for International Settlements.
    3. Benigno, Gianluca & Fornaro, Luca & Wolf, Martin, 2022. "Reserve accumulation, growth and financial crises," Journal of International Economics, Elsevier, vol. 139(C).
    4. Gong Cheng & Dominika Miernik & Yisr Barnieh & Beomhee Han & Ika Mustika Sari & Faith Qiying Pang & Tigran Kostanyan & Alexander Efimov & Marie Houdart & Alexandra de Carvalho & Carlos Giraldo & Vivia, 2018. "IMF–RFA collaboration: motives, state of play, and way forward," Discussion Papers 4, European Stability Mechanism, revised 27 Oct 2021.
    5. Gong Cheng & Dominika Miernik & Teuta Turani, 2020. "Finding complementarities in IMF and RFA toolkits," Discussion Papers 8, European Stability Mechanism, revised 25 Oct 2021.
    6. Amr Hosny, 2021. "The Sooner (and the Smarter), the Better: COVID-19 Containment Measures and Fiscal Responses," IMF Working Papers 2021/065, International Monetary Fund.
    7. Iñaki Aldasoro & Torsten Ehlers & Patrick McGuire & Goetz von Peter, 2020. "Global banks' dollar funding needs and central bank swap lines," BIS Bulletins 27, Bank for International Settlements.
    8. Daniel J. Gauthier & Erik Bollt & Aaron Griffith & Wendson A. S. Barbosa, 2021. "Next generation reservoir computing," Nature Communications, Nature, vol. 12(1), pages 1-8, December.
    9. World Bank, 2020. "Response to COVID-19," World Bank Publications - Reports 33738, The World Bank Group.
    10. Evgeny Vinokurov & Artem Levenkov, 2021. "The Enlarged Global Financial Safety Net," Global Policy, London School of Economics and Political Science, vol. 12(1), pages 15-23, February.
    11. Michael Perks & Yudong Rao & Mr. Jongsoon Shin & Kiichi Tokuoka, 2021. "Evolution of Bilateral Swap Lines," IMF Working Papers 2021/210, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Irving Fisher Committee, 2021. "New developments in central bank statistics around the world," IFC Bulletins, Bank for International Settlements, number 55.
    2. Cheng, Gong & Lennkh, Rudolf Alvise, 2018. "RFAs' Financial Structures and Lending Capacities: a Statutory, Accounting and Credit Rating Perspective," MPRA Paper 95754, University Library of Munich, Germany.
    3. McGuire, Patrick, 2022. "FX swaps and forwards in global dollar debt: “Known knowns” and “known unknowns”," Japan and the World Economy, Elsevier, vol. 64(C).
    4. Robert N. McCauley, 2020. "The Global Domain of the Dollar: Eight Questions," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 48(4), pages 421-429, December.
    5. Kai Schellekens & Patty Duijm, 2022. "Effectiveness of Central Bank Swap Lines in Alleviating the Mispricing of FX Swaps at the Start of the COVID-19 Pandemic," Working Papers 752, DNB.
    6. Fornaro, Luca, 2015. "Financial crises and exchange rate policy," Journal of International Economics, Elsevier, vol. 95(2), pages 202-215.
    7. Benigno, Gianluca & Converse, Nathan & Fornaro, Luca, 2015. "Large capital inflows, sectoral allocation, and economic performance," Journal of International Money and Finance, Elsevier, vol. 55(C), pages 60-87.
    8. Inaki Aldasoro & Wenqian Huang & Esti Kemp, 2020. "Cross-border links between banks and non-bank financial institutions," BIS Quarterly Review, Bank for International Settlements, September.
    9. Gianluca Fabiani & Nikolaos Evangelou & Tianqi Cui & Juan M. Bello-Rivas & Cristina P. Martin-Linares & Constantinos Siettos & Ioannis G. Kevrekidis, 2024. "Task-oriented machine learning surrogates for tipping points of agent-based models," Nature Communications, Nature, vol. 15(1), pages 1-13, December.
    10. David Klenert & Franziska Funke & Linus Mattauch & Brian O’Callaghan, 2020. "Five Lessons from COVID-19 for Advancing Climate Change Mitigation," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 76(4), pages 751-778, August.
    11. Zsofia Barany & Nicolas Coeurdacier & Stéphane Guibaud, 2015. "Fertility, Longevity and International Capital Flows," Working Papers hal-01164462, HAL.
    12. Zequn Lin & Zhaofan Lu & Zengru Di & Ying Tang, 2024. "Learning noise-induced transitions by multi-scaling reservoir computing," Nature Communications, Nature, vol. 15(1), pages 1-10, December.
    13. Sebastián Fanelli & Ludwig Straub, 2021. "A Theory of Foreign Exchange Interventions [The Cost of Foreign Exchange Intervention: Concepts and Measurement]," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 88(6), pages 2857-2885.
    14. Ma, Chang, 2020. "Financial stability, growth and macroprudential policy," Journal of International Economics, Elsevier, vol. 122(C).
    15. Adian,Ikmal & Doumbia,Djeneba & Gregory,Neil & Ragoussis,Alexandros & Reddy,Aarti & Timmis,Jonathan David, 2020. "Small and Medium Enterprises in the Pandemic : Impact, Responses and the Role of Development Finance," Policy Research Working Paper Series 9414, The World Bank.
    16. Andrej Sokol & Michael Kumhof & Marco Pinchetti & Phurichai Rungcharoenkitkul, 2023. "CBDC policies in open economies," BIS Working Papers 1086, Bank for International Settlements.
    17. Yun Jung Kim & Jing Zhang, 2023. "International Capital Flows: Private Versus Public Flows In Developing And Developed Countries," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 64(1), pages 225-260, February.
    18. Clemens, Jeffrey & Hoxie, Philip & Kearns, John & Veuger, Stan, 2023. "How did federal aid to states and localities affect testing and vaccine delivery?," Journal of Public Economics, Elsevier, vol. 225(C).
    19. Penalver Adrian, & Szczerbowicz Urszula, 2021. "Monetary policy measures during the first phase of the Covid-19 crisis [Les mesures de politique monétaire pendant la première phase de la crise de la Covid-19]," Bulletin de la Banque de France, Banque de France, issue 234.
    20. Sepehrdoust, Hamid & Zamani Shabkhaneh, Saber, 2018. "How knowledge base factors change natural resource curse to economic growth?," Technology in Society, Elsevier, vol. 54(C), pages 149-154.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:stm:dpaper:18. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Karol SISKIND (email available below). General contact details of provider: https://edirc.repec.org/data/efseulu.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.