Economic effects of Covid-19 :A review on developed and developing countries

COVID-19, which started in Wuhan, China and spread to other countries and turned into a global health problem, was named a pandemic by the World Health Organization (WHO). The gradual spread of COVID-19 has pushed countries to take some measures. These measures to prevent the spread of COVID-19 have had various effects on the economies of both developed and developing countries. In this context, the main aim of this study is to examine the economic effects of COVID-19 in the sample of developed and developing countries. In the study, firstly, the developments in unemployment, inflation, economic growth and foreign trade in selected developed and developing countries during the COVID-19 period are presented with tabular data. Then, the effect of COVID-19 on economic growth in 7 developed and 5 developing countries was examined by FMOLS method with data for the period January 2020- December 2021. The findings revealed that there is a negative relationship between COVID-19 and economic growth.