- Title
- COVID-19 effects on public finance and SDG priorities in developing countries : comparative evidence from Bangladesh and Sri Lanka
- Creator
- Colombage, Sisira; Barua, Suborna; Nanayakkara, Madurika; Colombage, Udari
- Date
- 2023
- Type
- Text; Journal article
- Identifier
- http://researchonline.federation.edu.au/vital/access/HandleResolver/1959.17/188192
- Identifier
- vital:17224
- Identifier
-
https://doi.org/10.1057/s41287-022-00558-6
- Identifier
- ISSN:0957-8811 (ISSN)
- Abstract
- The COVID-19 pandemic, an unprecedented global health crisis, rapidly transferred into a global economic and social crisis. The pandemic has threatened the world’s commitment to achieve Sustainable Development Goals (SDGs) by 2030 as governments in developing countries have shifted their priorities from attaining SDGs, to providing urgent financial needs to save lives and prevent recession in hopes for a rapid economic recovery. The rerouting of public funding priorities has undermined the progress and achievement of SDGs. We employed a mixed-method and carried out a comparative study using pre- and post-public financial data of two developing countries in South Asia; Bangladesh and Sri Lanka. A threefold analysis was conducted to investigate the evolution of the COVID-19 pandemic in two countries, the impact of the pandemic on external and internal public finance and the effect of the pandemic in shifting the policy priorities from SDGs to economic survival. This study found that both countries are highly vulnerable to the COVID-19 pandemic and are suffering from the lack of financing from external sources through the private sector as well as an increasing foreign debt. There is mounting pressure on the fiscal balance in both countries. © 2022, The Author(s).
- Publisher
- Palgrave Macmillan
- Relation
- European Journal of Development Research Vol. 35, no. 1 (2023), p. 85-111
- Rights
- All metadata describing materials held in, or linked to, the repository is freely available under a CC0 licence
- Rights
- http://creativecommons.org/licenses/by/4.0/
- Rights
- Copyright © The Author(s) 2022
- Rights
- Open Access
- Subject
- 3801 Applied economics; 4404 Development studies; 4407 Policy and administration; Bangladesh; Comparative study; COVID-19; Sri Lanka; Sustainable development goals
- Full Text
- Reviewed
- Funder
- Open Access funding enabled and organized by CAUL and its Member Institutions.
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