HOW HAS THE CORONAVIRUS OUTBREAK AFFECTED ECONOMIC POVERTY IN DIFFERENT ASIAN REGIONS?

Abstract

It is widely believed that the global economy is experiencing unprecedented challenges by the Covid-19. The main purpose of this research is to explore how the Covid-19 outbreak affected poverty in different Asian regions classified by the United Nations geoscheme, namely South Asia, Southeastern Asia, Central Asia, East Asia and Western Asia. To estimate the coefficients of variables, the panel data framework based on quarterly data over 2010Q1–2020Q2 is employed. Results revealed that the Covid-19 pandemic is a serious challenge for poverty in these regions. The impacts of the pandemic on poverty are smaller for larger or developed economies in Asia than smaller or less-developed economies. Regulating and making a timeline for managing post-coronavirus period is a major policy implication. Another policy implication is that due to the similar findings for Asian countries, they can exchange experiences in controlling the pandemic impacts.