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The impact of COVID-19 on economy, air pollution and income: evidence from China

The global pandemic caused by the outbreak of COVID-19 has posed significant risks to our health. Preventive measures such as closed management have greatly affected the economies, environments and societies of various countries. Economy, air pollution and income are three important interconnected a...

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Autores principales: Li, Chenggang, Chen, Ziling, Wang, Xiaodong, Wan, Yikang, Zhao, Zhen
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer Berlin Heidelberg 2023
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10158711/
https://www.ncbi.nlm.nih.gov/pubmed/37362843
http://dx.doi.org/10.1007/s00477-023-02450-z
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author Li, Chenggang
Chen, Ziling
Wang, Xiaodong
Wan, Yikang
Zhao, Zhen
author_facet Li, Chenggang
Chen, Ziling
Wang, Xiaodong
Wan, Yikang
Zhao, Zhen
author_sort Li, Chenggang
collection PubMed
description The global pandemic caused by the outbreak of COVID-19 has posed significant risks to our health. Preventive measures such as closed management have greatly affected the economies, environments and societies of various countries. Economy, air pollution and income are three important interconnected aspects of sustainable development. However, current research lacks systematic quantitative analysis of their relationships. To fill the gap, this study adopts monthly data from January 2016 to April 2022 and constructs both a Simultaneous Equation Model (SEM) and a Time Varying Parameter Stochastic Volatility Vector Autoregressive (TVP-SV-VAR) model to empirically analyze the impact of COVID-19 on China's economy, air pollution and income. This study finds that the COVID-19 has a negative impact on China’s economy and income, and a positive impact on air pollution, and the impact of the COVID-19 is systematic. In addition, there is an inverted-U shaped relationship between air pollution and economics, and a positive correlation between economic and income. The impact of COVID-19 on the economy, air pollution and income show a process of sharp fluctuations to gradual stabilization that gradually stabilized over time. This process is time-varying in the short-term, medium-term and long-term. The impacts are persistent at three different time points (before, during and after the outbreak of COVID-19), but the negative impact on the economy and income is persistent, while the positive impact on air pollution is limited. This study provides a more systematic and dynamic understanding of the COVID-19 preventive and mitigation measures in China and even the world, which helps to provide insights into the formulation of more comprehensive planning strategies in the future. SUPPLEMENTARY INFORMATION: The online version contains supplementary material available at 10.1007/s00477-023-02450-z.
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spelling pubmed-101587112023-05-09 The impact of COVID-19 on economy, air pollution and income: evidence from China Li, Chenggang Chen, Ziling Wang, Xiaodong Wan, Yikang Zhao, Zhen Stoch Environ Res Risk Assess Original Paper The global pandemic caused by the outbreak of COVID-19 has posed significant risks to our health. Preventive measures such as closed management have greatly affected the economies, environments and societies of various countries. Economy, air pollution and income are three important interconnected aspects of sustainable development. However, current research lacks systematic quantitative analysis of their relationships. To fill the gap, this study adopts monthly data from January 2016 to April 2022 and constructs both a Simultaneous Equation Model (SEM) and a Time Varying Parameter Stochastic Volatility Vector Autoregressive (TVP-SV-VAR) model to empirically analyze the impact of COVID-19 on China's economy, air pollution and income. This study finds that the COVID-19 has a negative impact on China’s economy and income, and a positive impact on air pollution, and the impact of the COVID-19 is systematic. In addition, there is an inverted-U shaped relationship between air pollution and economics, and a positive correlation between economic and income. The impact of COVID-19 on the economy, air pollution and income show a process of sharp fluctuations to gradual stabilization that gradually stabilized over time. This process is time-varying in the short-term, medium-term and long-term. The impacts are persistent at three different time points (before, during and after the outbreak of COVID-19), but the negative impact on the economy and income is persistent, while the positive impact on air pollution is limited. This study provides a more systematic and dynamic understanding of the COVID-19 preventive and mitigation measures in China and even the world, which helps to provide insights into the formulation of more comprehensive planning strategies in the future. SUPPLEMENTARY INFORMATION: The online version contains supplementary material available at 10.1007/s00477-023-02450-z. Springer Berlin Heidelberg 2023-05-04 /pmc/articles/PMC10158711/ /pubmed/37362843 http://dx.doi.org/10.1007/s00477-023-02450-z Text en © The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature 2023, Springer Nature or its licensor (e.g. a society or other partner) holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law. This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic.
spellingShingle Original Paper
Li, Chenggang
Chen, Ziling
Wang, Xiaodong
Wan, Yikang
Zhao, Zhen
The impact of COVID-19 on economy, air pollution and income: evidence from China
title The impact of COVID-19 on economy, air pollution and income: evidence from China
title_full The impact of COVID-19 on economy, air pollution and income: evidence from China
title_fullStr The impact of COVID-19 on economy, air pollution and income: evidence from China
title_full_unstemmed The impact of COVID-19 on economy, air pollution and income: evidence from China
title_short The impact of COVID-19 on economy, air pollution and income: evidence from China
title_sort impact of covid-19 on economy, air pollution and income: evidence from china
topic Original Paper
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10158711/
https://www.ncbi.nlm.nih.gov/pubmed/37362843
http://dx.doi.org/10.1007/s00477-023-02450-z
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