Research Article

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

Volume: 5 Number: Özel Sayı December 26, 2020
TR EN

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

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.

Keywords

Supporting Institution

İCOAEF Kongresi

References

  1. Abigail, N. (2020, 23 February). France has seen a 30% to 40% fall in tourists following the Coronavirus outbreak: finance minister. CNBC. Retrieved from https://www.cnbc.com/2020/02/23/coronavirus-impact-france-sees-tourism-numbers-fall-by-30percent-to-40percent.html
  2. Andrle, M., Bruha, J. and Solmaz, S. (2013). Inflation and output co-movement in the Euro Area: Love at second sight?. (IMF Working Paper No. 13-192). Retrieved from https://www.imf.org/external/pubs/ft/wp/2013/wp13192.pdf
  3. Anota, M. (2020). Covid-19: l'Epidémie a-t-elle entraîné un choc d'offre ou de demande ? [Blog article]. Retrieved from https://blogs.alternatives-economiques.fr/anota/2020/06/24/covid-19-l-epidemie-a-t-elle-entraine-un-choc-d-offre-ou-de-demande
  4. Associated Press. (2020). BMW to drop 6,000 jobs. Retrieved from https://www.manufacturing.net/automotive/news/21137833/bmw-to-drop-6000-jobs
  5. Baldwin, R. (2020). The supply side matters: guns versus butter. Retrieved from https://voxeu.org/article/supply-side-matters-guns-versus-butter-covid-style?utm_source=dlvr.it&utm_medium=twitter
  6. Baldwin, R. and Tomiura, E. (2020). Thinking ahead about the trade impact of COVID-19, economics in the time of COVID-19. In R. Baldwin and B. W. di Mauro (Eds.), Center for Economic Policy Research (pp.59-73). UK, CEPR Press.
  7. Balleer, A. Link, S., Menkhoff, M. and Zorn, P. (2020). Demand or supply? Price adjustment during the Covid-19 pandemic. (CEPR Working Paper No. 8394). Retrieved from https://ideas.repec.org/p/ces/ceswps/_8394.html
  8. Baqaee, D. and Farhi, E. (2020). Supply and demand in disaggregated Keynesian economies with an application to the Covid-19 crisis. (National Bureau of Economic Research Working Paper No. 27152). Retrieved from https://ideas.repec.org/p/nbr/nberwo/27152.html

Details

Primary Language

English

Subjects

Economics

Journal Section

Research Article

Publication Date

December 26, 2020

Submission Date

October 14, 2020

Acceptance Date

December 10, 2020

Published in Issue

Year 2020 Volume: 5 Number: Özel Sayı

APA
Sülün, D. (2020). The Impact of Covid-19 on France’s Economy with an Overview on The European Economy. Ekonomi Politika Ve Finans Araştırmaları Dergisi, 5(Özel Sayı), 115-136. https://doi.org/10.30784/epfad.810739
AMA
1.Sülün D. The Impact of Covid-19 on France’s Economy with an Overview on The European Economy. EPF Journal. 2020;5(Özel Sayı):115-136. doi:10.30784/epfad.810739
Chicago
Sülün, Dilara. 2020. “The Impact of Covid-19 on France’s Economy With an Overview on The European Economy”. Ekonomi Politika Ve Finans Araştırmaları Dergisi 5 (Özel Sayı): 115-36. https://doi.org/10.30784/epfad.810739.
EndNote
Sülün D (December 1, 2020) The Impact of Covid-19 on France’s Economy with an Overview on The European Economy. Ekonomi Politika ve Finans Araştırmaları Dergisi 5 Özel Sayı 115–136.
IEEE
[1]D. Sülün, “The Impact of Covid-19 on France’s Economy with an Overview on The European Economy”, EPF Journal, vol. 5, no. Özel Sayı, pp. 115–136, Dec. 2020, doi: 10.30784/epfad.810739.
ISNAD
Sülün, Dilara. “The Impact of Covid-19 on France’s Economy With an Overview on The European Economy”. Ekonomi Politika ve Finans Araştırmaları Dergisi 5/Özel Sayı (December 1, 2020): 115-136. https://doi.org/10.30784/epfad.810739.
JAMA
1.Sülün D. The Impact of Covid-19 on France’s Economy with an Overview on The European Economy. EPF Journal. 2020;5:115–136.
MLA
Sülün, Dilara. “The Impact of Covid-19 on France’s Economy With an Overview on The European Economy”. Ekonomi Politika Ve Finans Araştırmaları Dergisi, vol. 5, no. Özel Sayı, Dec. 2020, pp. 115-36, doi:10.30784/epfad.810739.
Vancouver
1.Dilara Sülün. The Impact of Covid-19 on France’s Economy with an Overview on The European Economy. EPF Journal. 2020 Dec. 1;5(Özel Sayı):115-36. doi:10.30784/epfad.810739

Cited By