Fukunari Kimura Comment on Rethinking “Economic Fundamentals” in an Era of Global Physical Shocks: Insights from the Philippines Experience with COVID-19

Abstract

April 24 2021 Fukunari Kimura Comment on Rethinking “Economic Fundamentals” in an Era of Global Physical Shocks: Insights from the Philippines Experience with COVID-19 Author and Article Information Online ISSN: 1536-0083 Print ISSN: 1535-3516 © 2021 by the Asian Economic Panel and the Massachusetts Institute of Technology2021American Society of Health Economists and Massachusetts Institute of Technology Asian Economic Papers (2021) 20 (1): 144–145. https://doi.org/10.1162/asep_a_00821 Cite Icon Cite Permissions Share Icon Share Facebook Twitter LinkedIn MailTo Views Icon Views Article contents Figures & tables Video Audio Supplementary Data Peer Review Search Site Citation Fukunari Kimura Comment on Rethinking “Economic Fundamentals” in an Era of Global Physical Shocks: Insights from the Philippines Experience with COVID-19. Asian Economic Papers 2021; 20 (1): 144–145. doi: https://doi.org/10.1162/asep_a_00821 Download citation file: Ris (Zotero) Reference Manager EasyBib Bookends Mendeley Papers EndNote RefWorks BibTex toolbar search Search Dropdown Menu toolbar search search input Search input auto suggest filter your search All ContentAll JournalsAsian Economic Papers Search Advanced Search Fukunari Kimura, Keio University and Economic Research Institute for ASEAN and East Asia: At the time of writing (late November 2020), East Asian countries have been relatively successful in containing the COVID-19 pandemic, though the situation has widely varied across countries. The Philippines and Indonesia, together with India, are still on the verge of an explosive outbreak while other countries are worrying about possible second and third waves. The authors claim that physical shocks like COVID-19 are different from financial shocks such as the 2008–09 global financial crisis in that efficient and prepared government institutions matter considerably more than the oft-touted prescription of fixing macroeconomic fundamentals and injecting a macro stimulus to the economy. The authors are quite right in saying that at the stage of “emergency responses,” the containment of pandemic within the capacity of medical services must be prioritized. Even if some macroeconomic stimulus policy is implemented at... You do not currently have access to this content.