COVID-19 movement control effects on the socio-economy: evidence from Bangladesh's manufacturing sector Online publication date: Wed, 18-May-2022
by Fakhrul Hasan; Md. Zahid Hasan; Mohammad Raijul Islam
International Journal of Critical Accounting (IJCA), Vol. 12, No. 6, 2021
Abstract: This study provides an in-depth research into how the global pandemic has influenced the regular activity by the movement control order on Bangladesh's manufacturing industry. The study simulates how a demand shock is being borne hard by companies and is having a series of effects. We use six different manufacturing companies and find that independent contraction by social isolation has had an impact on the willingness of new investors in the face of a declining individual product. As companies are losing their share and companies are undergoing a process of laying off staff, owners are failing to pay dues, creating household money shortages. Some companies are going through a digital transformation and are hopeful of recovering. However, in general, this study conveys the economic pain endured by manufacturing sectors like Bangladesh's and provides some suggestions as to how the crisis can be overcome.
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