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Effect of the Covid Pandemic on Current Economic Trends

Effect of the Covid Pandemic on Current Economic Trends
Author: Harsh Doshi
Publisher:
Total Pages: 72
Release: 2021-03-05
Genre:
ISBN:

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The covid-19 pandemic struck without warning and changed the world in ways we didn't think possible. The millions of innocent lives that have been lost to this pandemic is proof enough of how dangerous the coronavirus is. In the same vein, the pandemic has caused lasting social and economic changes since the early months of 2020.This book torchlights the impacts of the COVID-19 pandemic on the world. It discusses the profound effects it has had on we as human beings in terms of how we interact with each other and go about our daily activities. It also investigates the economic impacts of the pandemic. Touching on the millions of jobs that were lost, the countless businesses that were killed and the multi-national corporations who faced massive disruptions in their global demand/supply chains. In this book, you will find real-life scenarios of how small businesses, multi-national corporations had to adapt when the world was brought to its knees. You will also read about the impact of safety guidelines like self-isolations, social distancing and full lockdowns affected these two classes of business.This book discusses the response of the government to the many issues the pandemic raise. It highlights the several ways the government tried to intervene and cushion the effects of the pandemic on citizens, businesses, the health sector and so on. The policies and programs that the government implemented were analyzed in great detail.Moving forward, we examined the global sentiment and how people are reacting to the discovery of COVID-19 vaccines, the renewed sense of confidence and positivity even when things are still rather uncertain. People seem to have accepted that things may never return to 'the old normal' and have found a way to make the best of 'the new normal'.Teleconferencing and other technological innovations that facilitated remote work during the woes of the pandemic are underlined and we resolved that the current trend of remote work will linger into the future. The pandemic showed just how feasible remote work really is and now it seems like it will be the new way to work. One of the other lessons discussed in the book was that of finances. The pandemic revealed just how interconnected and fragile the global economy is and so new investment strategies were explained. The purpose behind these new strategies is to prevent a repeat of what happened to most investors in 2020.The book also explains how those who lost their jobs to the pandemic can leverage online channels and tools to seek out new opportunities. The book also contains useful information that will help candidates prepare for virtual interviews (which is the new trend).This book is a comprehensive compilation of what happened during the pandemic, how the world responded, what the current state of things are and how we can forge ahead wiser and stronger. It is an invaluable resource to anyone of any age.


Economic Impact and Recovery Following a Global Health Crisis

Economic Impact and Recovery Following a Global Health Crisis
Author: Sloboda, Brian W.
Publisher: IGI Global
Total Pages: 253
Release: 2022-01-14
Genre: Business & Economics
ISBN: 1799869024

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The COVID-19 pandemic has raised challenges in the assessment of macroeconomic and microeconomic impacts. The impacts of COVID-19 on the macro and micro sectors of the economy and the current and future economic tendencies have yet to be determined. The impact of COVID-19 research holds limitless potential, but the necessary research for professionals to understand the economic impacts is lacking and unclear. Economic Impact and Recovery Following a Global Health Crisis assesses the economic impacts of the COVID-19 pandemic with a focus on the macroeconomic and microeconomic and uses various statistical methods and real-world data to predict and establish specific trends within the economy. Covering topics such as firm behavior and national economies, it is ideal for policymakers, industry professionals, researchers, academicians, instructors, and students.


COVID-19 Pandemic Impact on New Economy Development and Societal Change

COVID-19 Pandemic Impact on New Economy Development and Societal Change
Author: Popescu, Cristina Raluca Gh.
Publisher: IGI Global
Total Pages: 425
Release: 2021-12-17
Genre: Business & Economics
ISBN: 1668433761

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Globalization and technological advances have the immense power to create a new economy, address sustainability concerns, and facilitate societal changes. In addition, the COVID-19 pandemic has led to notable modifications in the world economy and society that require adjustments to business models, as well as our way of life. It is critical to understand these new models in our changing society for businesses to not only survive, but to thrive. COVID-19 Pandemic Impact on New Economy Development and Societal Change provides an updated view of the newest trends, novel practices, and latest tendencies concerning the manner of shaping the new economy and accelerating societal change, demonstrating the crucial importance of rethinking the world’s models, priorities, and strategies while seeking a more responsible path for humanity. Covering topics such as tourism and salesmanship skills, this publication is ideal for academicians, researchers, scientists, scholars, practitioners, industry professionals, consultants, instructors, and students.


Challenges in Economic Policy, Business and Management in the COVID-19 Era

Challenges in Economic Policy, Business and Management in the COVID-19 Era
Author: Anna Ujwary-Gil
Publisher: INE PAN
Total Pages: 269
Release: 2022-01-01
Genre: Business & Economics
ISBN: 8361597808

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The COVID-19 pandemic has made it necessary to redefine the most significant challenges faced by individual economies and society today. It contributed to the change of contemporary social, technological and economic trends, the effects of which will indeed be the subject of many scientific studies in the coming years. As the pandemic progresses, it promotes reflection and summaries of the consequences of behaviors or omissions in each country. One of them is a synthetic presentation of ten lessons from the pandemic (Gorynia, 2021), which the professor accurately diagnoses in the economic context: 1) the pandemic as a non-economic (sanitary-medical) shock that caused the economic, social and political crisis; 2) the pandemic as a "black swan", an unpredictable threat of high species gravity, but requiring anticipation to minimize its harmful effects in the future; 3) determining the causes of the appearance of the virus determines different preventive actions for future threats; 4) resilience as the foundation of long-term economic efficiency; 5) the set of measures to counteract the harmful effects of a pandemic should not be unified but adapted to the specificity of the facilities it is to affect; 6) the world economy as a system of vessels connected with its positive and negative consequences; 7) the pandemic highlighted the role of coordination of international cooperation; the shortcomings of globalization must be overcome by fairly sharing the positive fruits of international cooperation and resilience aimed at diversifying supplies; 8) economic policy pursued by individual states with a view to preventing the effects of the economic crisis caused by a pandemic cannot be voluntary; 9) the pandemic has sharpened the perception of the shortcomings of contemporary economic, social and political systems and prompts the questioning of certain pillars of the market economy (e.g., homo oeconomicus, individual and global rationality, private and state property, canons of monetary, fiscal, budgetary or industrial policy); 10) the pandemic increases the pressure on systemic and holistic thinking taking into account green economic development, saving energy, water and other resources, using renewable energy sources, avoiding wastage of resources, paying attention to social inequalities in the world, regions and countries, solving poverty problems, and social exclusion. This monograph is partially a response to the in-depth issues covered in these lessons. The authors of individual chapters challenge contemporary topics relating to ​​the COVID-19 pandemic, industry and inter-organizational cooperation, pro-environmental, resilient, and innovative organizations. The monograph consists of three parts. The first part (PART 1) covers an overview of very recent research, considering the impact of COVID-19 on the economy, industries, and business. The article by Anna Ujwara-Gil and Bianka Godlewska-Dzioboń deals with, among others, the issues relating to pandemic impacts on the slowdown in the functioning of the construction, electric automotive, and water industries. Also, it affects the tourist industry, where countries are starting to pay attention to the resource-saving green economy and problems of professional exclusion in the pandemic era. In another article, Maria Czech refers to the influence of public debt on the volatility of spreads during the COVID-19 pandemic. This research is part of the study on the use of sovereign credit default swap spreads to assess a country's credit risk, which may be distorted in a pandemic period. It is undisputed that the COVID-19 pandemic has a global dimension. The crisis resulting from disorders such as in value chains has caused industry to slow down. The Czech luxury fashion industry is no exception. As Radka MacGregor Pelikánová points out, COVID-19 has turned out to be a threat to its development.. Leading Czech luxury fashion companies withdrew to a passive role and felt the negative consequences of the pandemic. As the Author points out, few have engaged in corporate social responsibility and showed ingenuity, which increases their chances of survival in the future. In other studies, Tereza Horáková and Kateřina Maršíková identified factors influencing the environment of effective knowledge exchange in SMEs, which in the era of hybrid work during COVID-19, is particularly important. The second part of the monograph (PART 2) includes two studies on the photovoltaic cell industry in China from the perspective of comparative and intra-industry advantage. As a significant player in the global trade scene and various value chains, China is a fascinating subject of research undertaken by Paweł Brusilo and Bogusława Drelich-Skulska. The results of the first article demonstrate the success of the Chinese industry in terms of growth potential, competitiveness, and development opportunities thanks to effective state support and favorable market forces. As the authors point out, the Chinese solar cell industry has not been studied so far in the context of comparative advantage and the new structural economy. The results show the way for other countries to consider or develop innovative industries, such as renewable energy and solar energy. In the second article, Paweł Brusilo examines the topic of the Belt and Road Initiative in the context of the Chinese photovoltaic cell industry, energy transition policy, identification of modern intra-industry trade patterns and opportunities for this industry, which is characterized by significant state interventionism. The considerations in this article may inspire EU countries to deepen economic and trade cooperation in the export and import of solar cells with China. On the other hand, Joanna Kurowska-Pysz has undertaken the analysis of the cooperation conditions within the innovative processes of representatives of science, business, the legislative, and economic environment cooperating on the capital market. The Author focused on the motivators, barriers, but also the search for an effective form of development of intersectoral cooperation enabling the exchange of knowledge and experience, learning, including the flow of personnel between sectors, joint organization of conferences, seminars, training, and implementation of research projects constituting the basis of innovative processes, or the diagnosis of network relationships. The model proposed by the Author will surely inspire other researchers. The third part of the monograph (PART 3) includes articles referring, inter alia, to the pro-environmental organizational culture of enterprises. Katarzyna Piwowar-Sulej, as an advocate of this valuable orientation today, has shown that organizations are interested in developing pro-ecological behavior and are aware of their impact on the natural environment. The article is in line with the global trend focused on the sustainable, ecological, and green economy enterprises operating in this trend, not only because of COVID-19. Taking action to develop a pro-ecological organizational culture, taking care of the natural environment is not only a moral and ethical requirement but also an obligation for the future generation. This part also includes an article by Piotr Tomszys and Bartosz Grucza, who present an inspiring model of organizational resilience and an attempt to operationalize it. The organizational resilience model proposed by the Authors is in line with the growing interest in the analyzes and measurement of the enterprises' resilience. The conceptualization and measurement of economic resilience can inspire other researchers to further research in this area. The COVID-19 pandemic, as an unpredictable and destructive shock, might be a unique opportunity to verify the developed model, as the authors point out. The last article deals with the issue of innovative management and its measurement based on a proprietary tool developed by Magdalena Gorzelany-Dziadkowiec. The considerations undertaken by the Author are a reliable starting point for further research concerning the impact of COVID-19 on the organization's functioning, the development of innovative management, changes in work processes, and interpersonal relations in the era of increasingly dominant digital technology and skills to use it. The editors profoundly thank all the Authors for their valuable contribution to this monograph and cooperation in its co-creation. We address our grateful thanks to all the Reviewers for their insightful evaluation and high standards of their work. These special thanks go to (in alphabetical order) Barbara Błaszczyk Institute of Economics, Polish Academy of Sciences; Justyna Bugaj, Jagiellonian University; Anna Fornalczyk, COMPER Fornalczyk and Wspólnicy; Marta Gancarczyk, Jagiellonian University; Anna Maria Lis, Gdańsk University of Technology; Andrzej Lis, Nicolaus Copernicus University; Mieczysław Morawski, Warsaw University of Technology; Paweł Pisany, Institute of Economics, Polish Academy of Sciences; Natalia R. Potoczek, Institute of Economics, Polish Academy of Sciences. We also thank Paweł Japoł for his thorough proofreading of this monograph.


Global Economic Prospects, June 2020

Global Economic Prospects, June 2020
Author: World Bank Group
Publisher: World Bank Publications
Total Pages: 402
Release: 2020-07-07
Genre: Business & Economics
ISBN: 1464815801

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The COVID-19 pandemic has, with alarming speed, dealt a heavy blow to an already-weak global economy, which is expected to slide into its deepest recession since the second world war, despite unprecedented policy support. The global recession would be deeper if countries take longer to bring the pandemic under control, if financial stress triggers defaults, or if there are protracted effects on households and firms. Economic disruptions are likely to be more severe and protracted in emerging market and developing economies with larger domestic outbreaks and weaker medical care systems; greater exposure to international spillovers through trade, tourism, and commodity and financial markets; weaker macroeconomic frameworks; and more pervasive informality and poverty. Beyond the current steep economic contraction, the pandemic is likely to leave lasting scars on the global economy by undermining consumer and investor confidence, human capital, and global value chains. Being mostly a reflection of the recent plunge in global energy demand, low oil prices are unlikely to provide much of a boost to global growth in the near term. While policymakers' immediate priorities are to address the health crisis and moderate the short-term economic losses, the likely long-term consequences of the pandemic highlight the need to forcefully undertake comprehensive reform programs to improve the fundamental drivers of economic growth, once the crisis abates. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by these economies, while the June edition contains shorter analytical pieces.


Global Productivity

Global Productivity
Author: Alistair Dieppe
Publisher: World Bank Publications
Total Pages: 552
Release: 2021-06-09
Genre: Business & Economics
ISBN: 1464816093

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The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD


Economists and COVID-19

Economists and COVID-19
Author: Andrés Lazzarini
Publisher: Springer Nature
Total Pages: 187
Release: 2022-08-18
Genre: Political Science
ISBN: 3031058119

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​This book examines and classifies different reactions to the COVID-19 pandemic from economists across the world. With the impacts of the pandemic experienced differently in each country, specific case studies are provided to highlight how the economics profession has responded to the challenges that have emerged from COVID-19. Key debates, such as the trade-off between health protective measures and the economic impacts of closing important sectors, are discussed, with a focus on the responses in China, the USA, Italy, France, Russia, Argentina, Brazil, India, and Palestine. This book explores the ability of economists to respond to economic and social crises, and provides insight into the ties between economic theory and economic policy in the modern world. It will be relevant to students and researchers interested in how economists have responded to the COVID-19 and what changes it might trigger.


The Economics of Pandemics

The Economics of Pandemics
Author: S. Niggol Seo
Publisher: Springer Nature
Total Pages: 325
Release: 2022-02-12
Genre: Business & Economics
ISBN: 3030910210

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This book offers a lively account of the humanitarian, economic, societal, and planetwide impacts of the pandemics, the COVID-19 pandemic included, which are traced back to as early as the 14th century plague pandemic. Placing the pandemics along with other globally shared resources, such as global warming, AI singularity, and high-risk physics experiments, each of the nine chapters of the book discusses the global health crises from a variety of unique standpoints, including infectious diseases, economics, governance, and public health. Based on the historical records of past pandemics and the rich data from the COVID-19 pandemic, a conceptual framework is presented for the economics of pandemics as a globally shared experience. This book aims to critically examine salient features in the global responses to the COVID-19 pandemic, including global governance, lockdowns, radical movements, and mRNA vaccines. The book will be a valuable resource to students, researchers, and policymakers who are working in the fields of environmental economics, global-scale public goods, and health economics.


The Effects of COVID-19 on the Global and Domestic Economy

The Effects of COVID-19 on the Global and Domestic Economy
Author: Magnus Strömberg
Publisher: Nova Snova
Total Pages: 0
Release: 2021-08-03
Genre: COVID-19 Pandemic, 2020-
ISBN: 9781536199529

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In the year since the COVID-19 outbreak was first diagnosed, it has spread to over 200 countries and all U.S. states. The pandemic has negatively affected global economic growth beyond anything experienced in nearly a century. Estimates so far indicate the virus reduced global economic growth to an annualized rate of -4.5% to -6.0% in 2020, with a partial recovery of 2.5% to 5.2% projected for 2021. Global trade is estimated to have fallen by 5.3% in 2020, but is projected to grow by 8.0% in 2021. The full economic impact of the pandemic likely will remain unclear until the negative health effects peak. This book provides an overview of the global and domestic economic costs to date and the response by governments and international institutions to address these effects.


Economics of the Pandemic

Economics of the Pandemic
Author: Cai Fang
Publisher: Routledge
Total Pages: 307
Release: 2021-09-27
Genre: Business & Economics
ISBN: 100040482X

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The year 2020 marked the time when China expected to attain its goal of building a moderately prosperous society in all respects. Yet it has witnessed the emergence of COVID-19 as a global pandemic that has spread to almost all countries and regions throughout the world. This serious public health disaster has brought with it severe economic shock, resulting in unexpected challenges to the completion of economic and social development goals. This title compiles the latest research, from a variety of perspectives, into the impact of COVID-19 on the Chinese economy. Economic experts and scholars from the Chinese Academy of Social Sciences analyze the current trends as well as short-term and long-term countermeasures in the agricultural, industrial, employment, and public health sectors and focus on supply and demand. They argue that China’s actions toward and promotion of economic recovery need to adapt to variability and uncertainty, and policy choices should be made in the light of the dialectical relationship between variance and invariance. The book will appeal to students and scholars of economics, political science, and social development.