Key Socio-Economic Policy Responses to the Covid-19 Pandemic in Southern Africa
Journal Title: Journal of Economics, Finance and Management Studies - Year 2022, Vol 5, Issue 06
Abstract
Purpose: This paper attempt to highlight various intervention measures /policy responses to the Covid-19 Pandemic specifically focusing on Southern African Countries. The paper will particularly concentrate mostly on social, economic, monetary, and fiscal interventions in Southern Africa. Design/Methodology: This study was done using a combination of both narrative and systematic literature reviews. A number of databases were searched for articles on Covid-19 economic interventions in Southern Africa and other regions. The searches were done mainly on Google scholar and Web of Science. Findings: The COVID‐19 pandemic and the measures deployed by various governments in conjunction with the private sector institutions to contain its spread were numerous. They included the following; lockdowns, quarantines, social distancing, travel bans and restrictions, masking requirements, and shutdowns of non‐essential activities. These measures in turn caused severe socioeconomic dislocations in African economies. Many Governments in Southern Africa responded with programs to mitigate personal hardship and disruptions to economic life. At the same time, central banks had to cut policy rates and injected liquidity on an astounding scale into the economies. It goes without saying, that the pandemic and the actions taken to contain it have exacted substantial costs on Southern African economies and the rest of the world, including deep economic contractions. Specifically, some of the socioeconomic impacts of the COVID‐19 pandemic are; Decrease in GDP and GDP growth, loss in employment, increase in poverty, price increases and food insecurity, increase in exposure to corruption, and so forth. Research Limitations/Implications: The limitation is that the research was only based on existing literature. The implication is that different countries had different economic conditions and situations. Comparisons of such measures may not be universally applied to different countries as some countries for example are landlocked while others are not. Practical Implication; While these policy measures were welcome in as far as mitigating the negative effects of Covid-19, they were critiqued for largely being geared towards formal activities and not the informal sector of these economies where many micro and small-sized enterprises operate. Also, the responses were mostly short rather than long-term measures that targeted the impact of the pandemic on the key processes guiding the development of productive capacities. In this regard, there was the need for a more holistic policy response to the pandemic to ensure an inclusive and sustained development outcome. Policymakers therefore should endeavor to consider these realities in similar measures in the future. Findings: The COVID‐19 pandemic and the measures deployed by various governments in conjunction with the private sector institutions to contain its spread were numerous. They included the following; lockdowns, quarantines, social distancing, travel bans and restrictions, masking requirements, and shutdowns of non‐essential activities. These measures in turn caused severe socioeconomic dislocations in African economies. Many Governments in Southern Africa responded with programs to mitigate personal hardship and disruptions to economic life. At the same time, central banks had to cut policy rates and injected liquidity on an astounding scale into the economies. It goes without saying, that the pandemic and the actions taken to contain it have exacted substantial costs on Southern African economies and the rest of the world, including deep economic contractions. Specifically, some of the socioeconomic impacts of the COVID‐19 pandemic are; Decrease in GDP and GDP growth, loss in employment, increase in poverty, price increases and food insecurity, increase in exposure to corruption, and so forth. This paper attempt to highlight various intervention measures /policy responses to the Covid-19 Pandemic specifically focusing on Southern African Countries.
Authors and Affiliations
Austin Mwange, Ph. D, Windu Matoka, Ph. D, Marien Matafwali, Nyawa Msidi, Kutemba Kaping’a, Mary L. Musonda, Chipo Hamachila, Kaping'a Wa Tshimanga, Nyambe William Imamba Mululu
Keywords
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- EP ID EP707305
- DOI 10.47191/jefms/v5-i6-08
- Views 58
- Downloads 0
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