Steady State

Showing results in 'Publications'. Show all posts
Joab Odhiambo, Weke P, Ngare P. "Modeling Kenyan economic impact of corona virus in Kenya using discrete-time Markov chains." Journal of Finance and Economics. 2020;8(2):, 80-85. AbstractWebsite

Since the outbreak of pandemic COVID-19 (Corona virus), many countries have continued to suffer
economically leading to massive losses in terms of trillions of dollars globally in terms of trade loses. In reaction to
this effect, many countries in the world have taken emergency measures to ensure that the impact does not lead to
huge economic and financial implications in terms of rapid recession. In Africa, where many countries have taken
measures to deal with global recession to the citizens especially through fiscal and monetary policies, which includes
Kenya. In addition, the social economic statues have continued to change instantaneously and stochastically
more so after huge number of populations losing their daily informal jobs with new measures to stop the spread of
COVID-19 virus. This paper seeks to model the effect of COVID-19 pandemic on Kenyan Gross Domestic Product
(GDP) contributors using a Discrete-time Markov Chain Analysis. In addition, the paper seeks to find the ultimate
effect of the Covid-19 to the top five key sectors of the Kenyan economy that contributes massively to GDP growth
by looking at the proportion of the contributors at steady state. Moreover, the results from this paper should help the
government of Kenya as well as global investors to understand different economic stimulus planning packages to
launch in the “hard-hit” sectors of the economy to reduce the impact of the potential economic recession. Ultimately,
the information should be help in formulating a post COVID-19 economic recovery plan for the Kenyan economy
but also act as a benchmark strategy for many other countries in Africa that has economic and financial dynamics
similar to that of Kenya

UoN Websites Search