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"2019 ncov", the pneumonia epidemic caused by the new coronavirus, affects the global financial market. Investors around the world are paying close attention to and carefully assessing the potential economic impact, Reuters reported Tuesday. In response, Reuters invited experts to review the impact of such epidemics on the global economy in the past.
How does it affect the global economy and financial market?
According to a 2017 Paper Co authored by economists Victoria van, Dean Jamison and Lawrence Summers, according to their assessment, the annual loss caused by epidemic risk is about US $500 billion, accounting for 0.6% of the global total income, including both the loss of income and the inherent cost of rising mortality.
In 2016, a study conducted by the Commission on a global health risk framework for the future believed that the large-scale epidemic events would cause more than 6 trillion dollars of losses to the global economy in the 21st century - that is, an average of more than 60 billion dollars per year.
In a research paper, Australian macroeconomist Warwick machbin estimated that the global economic loss caused by SARS in 2003 was 40 billion US dollars. In the history of major international epidemics since then, the International Air Transport Association (IATA) estimated in an economic briefing in May 2006 that the global GDP decreased by 0.1% due to the outbreak of avian influenza.
However, measuring the impact of isolated individual outbreaks on the global stock index and the global economy is an arduous task: there are many simultaneous and competing factors in the market during this period, including economic data, corporate performance and geopolitical changes. For example, during the SARS epidemic in 2003, the United States was invading Iraq, and its behavior would have the same impact on the stock price trend, even if it was not greater than SARS.


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