Document Type : Research Paper

Authors

1 Department of Russian Studies, Faculty of World Studies, University of Tehran, Tehran, Iran

2 Kazan Federal University, Russian Federation

3 Volgograd State University, Volgograd, Russian Federation

10.22059/wsps.2021.327812.1234

Abstract

It is generally accepted that the COVID-19 is one of the most serious challenges the countries have faced since the end of World War II. The coronavirus as an external shock has reshaped economic structures and lowered the integration among countries. The main purpose of this paper is to investigate the impacts of COVID-19 on globalization level of countries, which were classified into five Asian regions based on the United Nations geoscheme. To this end, an econometric method of estimation is employed through the quarterly data of variables covering the period of 2010 to 2020. The main results reveal that the pandemic has a harsher negative impact on the globalization level of more developed countries in Asia, whereas it has a smaller negative impact on less developed regions like those located in Central Asia. In this regard, Japan and China can be named that are two economies whose coronavirus has had a greater negative impact on the level of globalization of their economies. It can be highlighted that the pandemic and its related consequences such as protectionism (trade and capital de-liberalism) and travel restrictions are not considered as potential threats for all Asian countries. It highly depends on the economic nature, political stability, economic size, and globalization nature. Therefore, for globalization recovery, there is no similar pattern for all Asian countries, so they should determine useful practical policies based on their economic mechanism and interactions from both regions and global aspects.

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