Abstract
To promote postpandemic recovery, many countries have adopted economic packages that include fiscal, monetary, and financial policy measures; however, the effects of these policies may not be known for several years or more. There is an opportunity for decision makers to learn from past policies that facilitated recovery from other disease outbreaks, crises, and natural disasters that have had a devastating effect on economies around the world. To support the development of the United Nations Research Roadmap for COVID-19 Recovery, this review examined and synthesized peer-reviewed studies and gray literature that focused on macroeconomic policy responses and multilateral coalition strategies from past pandemics and crises to provide a map of the existing evidence. We conducted a systematic search of academic and gray literature databases. After screening, we found 22 records that were eligible for this review. The evidence found demonstrates that macroeconomic and multilateral coalition strategies have various impacts on a diverse set of countries and populations. Although the studies were heterogeneous in nature, most did find positive results for macroeconomic intervention policies that addressed investments to strengthen health and social protection systems, specifically cash and unconventional/nonstandard monetary measures, in-kind transfers, social security financing, and measures geared toward certain population groups.
Highlights
In response to the COVID-19 pandemic, the United Nations (UN) has focused on gathering and dispersing knowledge in an effort to protect the population, limit lives lost, and build a better future
This rapid scoping review aims to examine and synthesize peer-reviewed studies and gray literature that focus on macroeconomic policy responses and multilateral coalition strategies from past pandemics and crises to provide a map of the existing evidence for future policies and strategies
For the category of “other macroeconomic interventions,” we found 1 publication that focused on regulation
Summary
In response to the COVID-19 pandemic, the United Nations (UN) has focused on gathering and dispersing knowledge in an effort to protect the population, limit lives lost, and build a better future. In March 2020, the UN released the UN Secretary-General’s “Shared Responsibility, Global Solidarity” report, which highlighted the severity of the global health crisis and the significant, predicted impact on economies worldwide.[1] The UN called for an extensive and coordinated multilateral response equivalent to at least 10% of the global gross domestic product (GDP) to ensure the management of the crisis and reduce the risk of COVID-19 prohibiting economic recovery.[1]. In April, the UN released a report that described the immediate socioeconomic support that it would be providing globally in response to COVID-19. ON, Canada 5School of Social Science, University of Aberdeen, Aberdeen, UK 6McGill University, Montreal, Canada 7Cumming School of Medicine, University of Calgary, Calgary, Canada 8Better Outcomes & Registry Network (BORN) Ontario, Children’s Hospital of Eastern Ontario—Ottawa Children’s Treatment Centre, Ottawa, ON, Canada 9Children’s Hospital of Eastern Ontario Research Institute, Ottawa, ON, Canada 10University of Ottawa, ON, Canada 11Michael G DeGroote School of Medicine, McMaster University, Hamilton, ON, Canada
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