Prof. Lily Fang
As the toll on human health and lives caused by the novel coronavirus increases daily, economy-wide lockdowns are severely impacting the economy. Professor Lily Fang, who heads the AXA Chair in Financial Risk at INSEAD, argues that to mitigate the economic crisis, lockdown periods should have well defined horizons – three to four weeks. In her recent article, Professor Fang advocates mass antibody testing as the way to allow for the recovered and newly immune population to go back to work and restart the economic engine.
The resumption of economic activity, according to Professor Fang, should be accompanied by other policy pillars such as the protection of vulnerable populations, stay-at-home policies for the sick and lost income support. Strategic long-term investment in infrastructure, both physical and intellectual, would also allow policymakers to turn a crisis into long term growth.