The impact of COVID-19 on the economic performance of Wuhan, China (2019-2021)

Mario Arturo Ruiz Estrada; Evangelos Koutronas; Donghyun Park; Alam Khan; Muhammad Tahir

doi:10.1007/s11135-022-01392-y

The impact of COVID-19 on the economic performance of Wuhan, China (2019-2021)

Qual Quant. 2023;57(1):847-862. doi: 10.1007/s11135-022-01392-y. Epub 2022 Apr 11.

Authors

Mario Arturo Ruiz Estrada^{1

2}, Evangelos Koutronas³, Donghyun Park⁴, Alam Khan⁵, Muhammad Tahir⁶

Affiliations

¹ Centre of Latin America Studies (CLAS), University of Malaya, 50603 Kuala Lumpur, Malaysia.
² University of Economics and Human Sciences, Okopowa 59, 01-043 Warszawa, Poland.
³ School of Mathematical and Data Sciences, West Virginia University, 26506-6310 Morgantown, U.S.
⁴ Asian Development Bank (ADB), 6 ADB Avenue, 1550 Mandaluyong City, Metro Manila Philippines.
⁵ Department of Economics, Faculty of Economics, KUST, Kohat, 26000 Khyber Pakhtunkhwa Pakistan.
⁶ Department of Management Sciences, COMSAT Institute of Information Technology, Abbottabad, Pakistan.

Abstract

This paper attempts to evaluate the impact of massive infectious and contagious diseases and its final impact on the economic performance anywhere and anytime. We are considering to evaluate the case of Wuhan, China. We are taking in consideration the case of COVID-19 to be evaluated under a domestic, national, and international level impact. In this paper, we also propose a new simulator to evaluate the impact of massive infections and contagious diseases on the economic performance subsequently. This simulator is entitled "The Impact of Pandemics on the Economic Performance Simulator (IPEP-Simulator)" Hence, this simulator tries to show a macro and micro analysis with different possible scenarios simultaneously. Finally, the IPEP-Simulator was applied to the case of Wuhan-China respectively.

Keywords: China; Contagious diseases; Economic simulation; Policy modeling; Wuhan.