The impact of the economic crisis caused by COVID-19 pandemic on poverty and inequality
The COVID-19 pandemic has led to an unprecented social and economic crisis, and set back progress on reducing global poverty. But what is the concrete impact of the economic crisis on poverty and inequality?
Limited observations and basic reasoning suggest that, from a health point of view, the COVID-19 crisis affected the urban informal sector more than the modern sector or agriculture in most developing countries. On the economic side, however, the crisis is more likely to have the same effects as a severe global recession. Taking these two sets of factors into account, François Bourguignon will discuss the extent of the economic crisis caused by the pandemic, and try to figure out its likely effects on national and global inequality.
Discussant Marta Roig will share insights on the policy implications of the impact of COVID-19 on inequality, and what the international development community can do in this respect.
UNU-WIDER Director Kunal Sen will chair the event