COVID-19 and Its Impact on the Indian Economy

Pessimism looms large all over. COVID-19 has been projected as worse than the Great Depression of 1930. Everyday analyst and agency reports are diving into new bottoms of a fall-down in economic activities. Indian economy, however, has a slightly different story to tell at this hour of crisis. The silver lining for the Indian economy comes from a steep fall in the crude oil prices from around $70 per barrel to a record 18 years low of $22 per barrel. This windfall gain can, to some extent, offset the direct losses due to COVID-19. At the same time, dreams like a $5 trillion economy no longer look even a remote possibility. This article takes stock of the likely impact of COVID-19 on the Indian economy in the short term and the long term. A decision-tree approach has been adopted for doing the projections.

Structural Transformation and Economic Diversification in West African Countries

<p>In the history of modern trade theory, the capitalized countries set up ridiculous pretensions as specialization for being an industrialized country. Thus, well-know words according to their idea is “Africa has a strong comparative advantage in natural resources, so, they should specialize on them.” But today, new theories on over-specialization are to keep away commodity dependent countries from specialization. As mentioned above, there are many new concepts which are not available for Africa continent. In this article, new concepts such as Natural Curse Arguments (paradox of plenty), Dutch Disease, Immiserising Growth, windfall gain argument and over-specialization were discussed.</p>