The Impact Of Infectious Epidemic On International Market A Case Study Of Coronavirus Disease
This study was on the impact of infectious epidemic on international market. A case study of coronavirus. The total population for the study is 200 staffs of CBN in Abuja. The researcher used questionnaires as the instrument for the data collection. The descriptive survey research design was adopted for this study. A total of 133 respondents made administrative staffs, economists, senior staffs and junior staffs were used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies
Keywords: coronavirus disease, international market, Nigeria.
TABLE OF CONTENT
Table of content
1.1 Background of the study
1.2 Statement of problem
1.3 Objective of the study
1.4 Research Hypotheses
1.5 Significance of the study
1.6 Scope and limitation of the study
1.7 Definition of terms
1.8 Organization of the study
2.0 LITERATURE REVIEW
3.0 Research methodology
3.1 sources of data collection
3.3 Population of the study
3.4 Sampling and sampling distribution
3.5 Validation of research instrument
3.6 Method of data analysis
DATA PRESENTATION AND ANALYSIS AND INTERPRETATION
4.2 Data analysis
- Background of the study
COVID-19 is a humanitarian crisis on a global scale. The virus continues to spread throughout the globe, placing health systems under unprecedented stress in the battle to save lives. The human scale of this tragedy is set to worsen as the virus spreads to lower income countries with weaker healthcare systems.
A further challenge is the uncertainty about COVID-19, including in terms of the scale and pace of infection; how long and widespread shutdown measures will prove necessary; the prospects for treatments to better manage symptoms, allowing health services to focus only on the most serious cases; and the risk of “second wave” infections as the virus moves around the globe. The virus is proceeding in waves, with countries succumbing and set to recover at different times. What is clear is that the virus and its aftermath looks likely to be with us for some time (https://read.oecd-ilibrary.org/view)
There is a clear need to keep trade flowing, both to ensure the supply of essential products and to send a signal of confidence for the global economy. Trade is essential to save both lives and livelihoods. But keeping trade flowing requires co-operation and trust for example, that the market will supply essentials, that countries will not impose export restrictions, and that imports do not pose health risks. This is a particular challenge at a time of trade tensions, where the international trading system was already subject to an increased number of new restrictions and distortions, from tariff increases among major traders, to significant government support in key sectors. Efforts at dialogue to manage and prevent tensions through ongoing negotiations are now complicated by mobility restrictions. But in the context of the severe economic strain from COVID-19, it is more important than ever to avoid escalation of the current trade tensions.
Statement of the problem
In order to assess the possible impact of the coronavirus on the economy, it is important not only to focus on the epidemiological profile of the virus but also on the ways that consumers, businesses, and governments may respond to it. COVID-19 will most directly shape economic losses through supply chains, demand, and financial markets, affecting business investment, household consumption, and international trade. And it will do so both in traditional, textbook supply-and-demand ways and through the introduction of potentially large levels of uncertainty.
Objective of the study
The objectives of the study are;
- To ascertain the threat of coronavirus on international market
- To ascertain the relationship between coronavirus and world economy
- To ascertain challenges of international market during this epidemic period
HO: there is no threat of coronavirus on international market
HI: there is threat of coronavirus on international market
HO: there are no challenges of international market during this epidemic period
HI: there are challenges of international market during this epidemic period
Significance of the study
The study will be beneficial to students and general public. The study will give a clear insight on the impact of infectious epidemic on international market. A case study of coronavirus. The study will enlighten the economic importance of coronavirus. The study will also serve as a reference to other researcher that will embark on the related topic.
Scope and limitation of the study
The scope of the study covers the impact of infectious epidemic on international market. The researcher encounters some constrain which limited the scope of the study;
- a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study
- b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.
1.7 DEFINITION OF TERMS
International market: Global marketing is “marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives
Coronavirus: Coronavirus disease (COVID-19) is an infectious disease caused by a newly discovered coronavirus. Most people infected with the COVID-19 virus will experience mild to moderate respiratory illness and recover without requiring special treatment. Older people, and those with underlying medical problems like cardiovascular disease, diabetes, chronic respiratory disease, and cancer are more likely to develop serious illness.
Global economy: The world economy or global economy is the economy of all humans of the world, considered as the international exchange of goods and services that is expressed in monetary units of account.