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Book part
Publication date: 21 January 2022

Ayberk Şeker

The COVID-19 outbreak occurred in Wuhan region of China has significantly affected the exports and production of countries. Digitalization and technological developments have…

Abstract

The COVID-19 outbreak occurred in Wuhan region of China has significantly affected the exports and production of countries. Digitalization and technological developments have increased with the Industry 4.0, and COVID-19 measures accelerated this process. In this study, the impacts of COVID-19 pandemic have been investigated on international trade and production in European countries and Turkey. Accordingly, the cointegration relations between variables were examined with Westerlund panel cointegration test. As a result of the cointegration test, it is determined that there are long-term relationships between variables. The causality relationships between variables are analyzed with the Dumitrescu–Hurlin panel causality test. Causality analyses show that there is a unidirectional causality relationship from COVID-19 cases and deaths to export, while there is a unidirectional causality relationship from COVID-19 cases to production. The empirical findings demonstrate that COVID-19 outbreak has a significant impact on production and export processes in European countries and Turkey.

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Book part
Publication date: 21 January 2022

Abstract

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Industry 4.0 and Global Businesses
Type: Book
ISBN: 978-1-80117-326-1

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