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      The socio-economic implications of the coronavirus pandemic (COVID-19): A review.

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          Abstract

          The COVID-19 pandemic has resulted in over 4.3 million confirmed cases and over 290,000 deaths globally. It has also sparked fears of an impending economic crisis and recession. Social distancing, self-isolation and travel restrictions have lead to a reduced workforce across all economic sectors and caused many jobs to be lost. Schools have closed down, and the need for commodities and manufactured products has decreased. In contrast, the need for medical supplies has significantly increased. The food sector is also facing increased demand due to panic-buying and stockpiling of food products. In response to this global outbreak, we summarise the socio-economic effects of COVID-19 on individual aspects of the world economy.

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          World Health Organization declares global emergency: A review of the 2019 novel coronavirus (COVID-19)

          An unprecedented outbreak of pneumonia of unknown aetiology in Wuhan City, Hubei province in China emerged in December 2019. A novel coronavirus was identified as the causative agent and was subsequently termed COVID-19 by the World Health Organization (WHO). Considered a relative of severe acute respiratory syndrome (SARS) and Middle East respiratory syndrome (MERS), COVID-19 is caused by a betacoronavirus named SARS-CoV-2 that affects the lower respiratory tract and manifests as pneumonia in humans. Despite rigorous global containment and quarantine efforts, the incidence of COVID-19 continues to rise, with 90,870 laboratory-confirmed cases and over 3,000 deaths worldwide. In response to this global outbreak, we summarise the current state of knowledge surrounding COVID-19.
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            Evidence Based Management Guideline for the COVID-19 Pandemic - Review article

            COVID-19 has now been declared a pandemic. To date, COVID-19 has affected over 944,181 people worldwide, resulting in over 47,312 reported deaths. Numerous preventative strategies and non-pharmaceutical interventions have been employed to mitigate the spread of disease including careful infection control, the isolation of patients, and social distancing. Management is predominantly focused on the provision of supportive care, with oxygen therapy representing the major treatment intervention. Medical therapy involving corticosteroids and antivirals have also been encouraged as part of critical management schemes. However, there is at present no specific antiviral recommended for the treatment of COVID-19, and no vaccine is currently available. Despite the strategic implementation of these measures, the number of new reported cases continues to rise at a profoundly alarming rate. As new findings emerge, there is an urgent need for up-to-date management guidelines. In response to this call, we review what is currently known regarding the management of COVID-19, and offer an evidence-based review of current practice.
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              The possible macroeconomic impact on the UK of an influenza pandemic.

              Little is known about the possible impact of an influenza pandemic on a nation's economy. We applied the UK macroeconomic model 'COMPACT' to epidemiological data on previous UK influenza pandemics, and extrapolated a sensitivity analysis to cover more extreme disease scenarios. Analysis suggests that the economic impact of a repeat of the 1957 or 1968 pandemics, allowing for school closures, would be short-lived, constituting a loss of 3.35 and 0.58% of GDP in the first pandemic quarter and year, respectively. A more severe scenario (with more than 1% of the population dying) could yield impacts of 21 and 4.5%, respectively. The economic shockwave would be gravest when absenteeism (through school closures) increases beyond a few weeks, creating policy repercussions for influenza pandemic planning as the most severe economic impact is due to policies to contain the pandemic rather than the pandemic itself.Accounting for changes in consumption patterns made in an attempt to avoid infection worsens the potential impact. Our mild disease scenario then shows first quarter/first year reductions in GDP of 9.5/2.5%, compared with our severe scenario reductions of 29.5/6%. These results clearly indicate the significance of behavioural change over disease parameters. Copyright © 2009 John Wiley & Sons, Ltd.
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                Author and article information

                Journal
                Int J Surg
                International journal of surgery (London, England)
                Elsevier BV
                1743-9159
                1743-9159
                Jun 2020
                : 78
                Affiliations
                [1 ] Imperial College Healthcare NHS Trust, London, United Kingdom. Electronic address: maria_n02@hotmail.com.
                [2 ] UCL Medical School, University College London, United Kingdom. Electronic address: zchazal@ucl.ac.uk.
                [3 ] Barts and the London School of Medicine and Dentistry, Queen Mary University of London, United Kingdom. Electronic address: ha17021@qmul.ac.uk.
                [4 ] GKT School of Medical Education, King's College London, United Kingdom. Electronic address: ahmedkerwan@live.co.uk.
                [5 ] GKT School of Medical Education, King's College London, United Kingdom. Electronic address: ahmed@aljabir.co.uk.
                [6 ] Barts and the London School of Medicine and Dentistry, Queen Mary University of London, United Kingdom. Electronic address: Iosifidischristos1@gmail.com.
                [7 ] IJS Publishing Group, United Kingdom. Electronic address: maliha@ijspg.com.
                [8 ] Barts Health NHS Trust, London, United Kingdom. Electronic address: mail@riazagha.com.
                Article
                S1743-9191(20)30316-2
                10.1016/j.ijsu.2020.04.018
                7162753
                32305533
                de845a78-4dcf-43d4-b5f7-9365dbd0784a
                Copyright © 2020 IJS Publishing Group Ltd. Published by Elsevier Ltd. All rights reserved.
                History

                COVID-19,Coronavirus,Economic impact,Economy,SARS-CoV-2
                COVID-19, Coronavirus, Economic impact, Economy, SARS-CoV-2

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