مقارنة بين الأزمة الاقتصادية الوبائية العالمية (كوفيد-19)‎ و الأزمة المالية العالمية (عام 2008)‎

Abstract EN

The purpose of this study is to compare Worldwide Pandemic Economic Crisis (COVID-19) and the global Financial crisis of 2008.

There are certainly similarities: widespread bankruptcies, liquidity shortages, large losses, uncertainty, … But viewed through the exogenous and endogenous origin, they're quite different.

2008 was a global systemic financial crisis fueled by the internal interactions of market participants.

The forces of the crisis have fed on the deep weaknesses that have built up in the US and global financial system.

while COVID-19 is an unparalleled exogenous shock to the economy from an epidemiological and economic perspective, it has been faster spreading and more severe on the global economy than the 2008 crisis and it involved shocks in supply and demand.

It led to the closure of factories and disruption of corporate activity, which caused a drop in production, (supply shocks).

The reluctance of consumers and businesses to spend, due to containment measures, has also led to a drop in demand (the demand shock).

Which resulted in large economic losses in the short term, and a global recession worse than what we witnessed after the global financial crisis of 2008.