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Impact of Covid-19 on the Financial Regulatory Framework in ASEAN

Salman, A ; Sharif University of Technology | 2024

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  1. Type of Document: Article
  2. DOI: 10.1007/978-3-031-49313-3_6
  3. Publisher: 2024
  4. Abstract:
  5. Even though ASEAN governments have considerably flattened the Covid-19 curve through stringent containment measures however, these measures have resulted in deep economic and financial disruptions. Consequently, there is a need to investigate the economic and financial impacts of Covid-19 so that relevant policies may be developed by the ASEAN member states (AMS). This study outlines the major economic and financial consequences of Covid-19 and the strategies to minimize these impacts. The findings reveal that the current situation of Covid-19 and the characteristics of AMS have broad impacts on the GDP growth, trade, tourism, supply chains, MSMEs, and the financial market. This study forecasts that these risks can be mitigated provided regulators and policymakers in AMS focus on developing a comprehensive and holistic approach by incorporating functional response strategy, effectively mobilizing policy tools, preserving production capacities, preventing leaning supply chains, and switching to digital trade. Our study contributes to the ongoing research on the current pandemic outbreak and elucidates implications to reduce economic and financial risks amidst Covid-19 in ASEAN. © The Author(s), under exclusive license to Springer Nature Switzerland AG 2024
  6. Keywords:
  7. ASEAN ; Covid-19 ; Economic & financial risks ; Policy implications
  8. Source: Advances in Science, Technology and Innovation ; 2024 , Pages 65-75 ; 25228714 (ISSN); 978-303149315-7 (ISBN)
  9. URL: https://link.springer.com/chapter/10.1007/978-3-031-49313-3_6