The Impact of the Global Crisis on Cuba's Economy and Social Welfare

2010 ◽  
Vol 42 (4) ◽  
pp. 689-717 ◽  
Author(s):  
CARMELO MESA-LAGO ◽  
PAVEL VIDAL-ALEJANDRO
Keyword(s):  
Social Services ◽  
Open Economy ◽  
Developing Economies ◽  
Socialist Economy ◽  
Economic Policies ◽  
Government Response ◽  
Transmission Mechanisms ◽  
World Economic ◽  
The Government ◽  
The Impact

AbstractThe mechanisms by which the world economic crisis has been transmitted from developed to developing economies are conditioned by domestic factors that may attenuate or accentuate external economic shocks and their adverse social effects. Cuba is a special case: it is an open economy and hence vulnerable to trade-growth transmission mechanisms, but at the same time, it is a socialist economy with universal social services. This article reviews the literature, summarises Cuba's domestic socio-economic strengths and weaknesses prior to the crisis, evaluates the effects of the crisis on the macro-economic and social services indicators, assesses the government response and suggests alternative socio-economic policies.

Impact of COVID-19 pandemic on indigenous contractors in a developing economy

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nathaniel Ayinde Olatunde ◽  
Imoleayo Abraham Awodele ◽  
Bosede Olajumoke Adebayo
Keyword(s):  
Developing Economies ◽  
Sampling Technique ◽  
Structured Interview ◽  
Additional Cost ◽  
Developing Economy ◽  
Content Type ◽  
Construction Contracts ◽  
The Government ◽  
And Performance ◽  
The Impact

Purpose The purpose of this study is to examine the impact of coronavirus disease 2019 (COVID-19) on indigenous contractors in a developing economy with a view to enhancing their performance. Design/methodology/approach The study used a purposive sampling technique to select 37 indigenous contractors with ongoing construction contracts in Osun State, Nigeria who provided data for the study. A structured interview protocol was used to elicit the required information from the interviewees and frequency, percentage and content analysis were used for data analysis. Findings The results showed that the critical impact of COVID-19 on indigenous contractors in a developing economy is: time overrun, loss of profit and creation of dispute. Further results showed that other impacts are a disruption in supply of labour, locally sourced materials are with additional cost, the additional cost of implementing COVID-19 protocols, difficulty in sourcing imported materials and absence of new jobs with the corresponding retrenchment of workers. Practical implications The study recommended special palliatives for the indigenous contractors from the government so as to cushion the impact of the pandemic on them, thereby enhance their survival and performance. A special arbitration panel is set up in each state of the federation to look at disputes arising from the aftermath of the pandemic, this is with a view to adequately compensate indigenous contractors with genuine and properly compiled claims. inferring from the findings of the study, it suffices to say that the severity of the impact of the pandemic is very high on indigenous contractors in developing economies, as such a better preparedness strategy could lessen the impact of such pandemic in the future. Originality/value The study is an attempt to unearth the impact of COVID-19 on indigenous contractors with ongoing construction contracts in a developing economy. The study will be of value to construction stakeholders in providing the information needed to devise strategies to minimise the impact of a pandemic on indigenous contractors in future projects thereby enhance their performance.

scholarly journals Children in prison during COVID-19: the new “double jeopardy”

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Anne-Marie Day
Keyword(s):  
Design Methodology ◽  
Young Offender ◽  
Double Jeopardy ◽  
England And Wales ◽  
Content Type ◽  
Government Response ◽  
Opinion Piece ◽  
The Government ◽  
The Impact

Purpose The purpose of the paper is to consider the impact on children in custody of the government response to COVID-19 in England and Wales. As the majority of children are held in young offender institutions, this forms the focus of the piece. Design/methodology/approach A review and opinion piece on the government response and the impact of decisions about the juvenile custodial estate on incarcerated children. Findings No specific findings as this is an opinion piece. Originality/value This paper offers a viewpoint on the government response to COVID-19 and its impact on children in custody. It considers key publications that have cited concerns since the lockdown and seeks to identify key themes emerging from the publications.

Integration of Manufacturing, Science and Education as a Basis for the Re-Industrialization of Russia

2015 ◽  
pp. 94-104
Author(s):  
S. Bodrunov
Keyword(s):  
Economic Policy ◽  
Import Substitution ◽  
Domestic Industry ◽  
Technological Basis ◽  
Russian Economy ◽  
World Economic ◽  
Science And Education ◽  
The Government ◽  
The Impact ◽  
Manufacturing Science

The article investigates the problems that Russian industry has encountered during the period of economic reforms. The author explores the reasons for the competitiveness decrease and contradictions that hinder the modernization of the domestic industry. Based on the analysis the principal concept is posed of the need in the implementation of the strategy of re-industrialization in Russia on a new technological basis. The basic directions of re-industrialization, the mechanisms of its implementation, as well as the impact on import substitution are considered. Substantial attention is paid to the risks inherent in a re-industrialization of Russia and the ways to overcome them. In recent years, geo-political and geo-economic challenges to the Russian economy and society greatly exacerbated the contradictions that emerged in the previous decades of economic evolution. During a long period of time the country tried to implement an economic policy intended, in principle, at achieving the strategic goal of creating a modern socially-oriented market economy on the base of modernization. However, the practical tools for implementation of this course – first of all, the ideology of “market fundamentalism” combined with the remaining powerful black market and “hand steering” by the government – caused stagnation and further de-industrialization of the country with inevitably negative implications for the manufacturing, science, education, human capital. Most recently, the Russian economy faced additional problems, namely, the Western sanctions, world economic slump and decline in world oil prices. That is why significant changes in the objectives and tools of economic policy are so urgent.

scholarly journals Migration and Development Organizations: The Diversification of Civil Society in Spain

Two Homelands ◽  
2020 ◽  
Author(s):  
Joan Lacomba ◽  
Mourad Aboussi
Keyword(s):  
Civil Society ◽  
International Development ◽  
Social Services ◽  
Third Sector ◽  
Civil Society Organizations ◽  
Development Cooperation ◽  
The Government ◽  
The Impact ◽  
Migration And Development ◽  
The Way

The conjunction between the last few decades’ public policy changes and the impact of the growth of immigration in Spain has had a transformative effect on the third sector. The government trend toward outsourcing the management of international development cooperation programs and social services has shifted much of the state’s responsibility onto the shoulders of civil society organizations. The context has subjected them to tensions and changes in the way they take action and the way they are organized. This article, based on two research projects, explores the adaptations and new forms of relationships among the main actors involved in the field of migration and development.

scholarly journals The Shadow Pandemic: Examining the Impact of COVID-19 on Zimbabwean Informal Sector in Chiredzi District

2021 ◽  
Vol 4 (1) ◽  
pp. 1-10
Author(s):  
Bismark Mutizwa
Keyword(s):  
Informal Sector ◽  
Informal Economy ◽  
Preventive Measures ◽  
Developing Economies ◽  
Illustrative Case ◽  
Government Grants ◽  
Remedial Actions ◽  
The Government ◽  
The Impact ◽  
Informal Traders

COVID-19 has disrupted the business sector globally, ushering developed and developing economies into an unprecedented recession beyond anything experienced in nearly a century. Governments across the globe have adopted a myriad of preventive measures. These remedial actions vary from one country to the other. Nonetheless, in Zimbabwe the government gave a blind eye on the informal sector as evidenced by the adopted preventive measures which neglected the plight of informal traders. To this end, this research interrogates the shadow pandemic in the Zimbabwean informal sector using Chiredzi District as an illustrative case study. Documentary review and key informed interviews were at the core of research methodology. The study found out that informal economy businesses are excluded from government grants, closure of businesses, failure to pay rentals, disruption of the supply chain, psychological impact and family dysfunctional are the quandaries causing a shadow pandemic. Inclusion of informal economy businesses in policies and government grants, government should negotiate with landlords, informal traders should be allowed to operate and inclusive social nets are the possible remedial actions that the government can adopted.

scholarly journals Statistical Analysis of the Performance of a Big and Open Economy: The Case of the U.S.

2018 ◽  
pp. 10-17
Author(s):  
O. V. Zhuravliov ◽  
О. М. Simachova
Keyword(s):  
United States ◽  
Open Economy ◽  
Developing Economies ◽  
Negative Impact ◽  
The United States ◽  
Us Economy ◽  
The Us ◽  
The World ◽  
Macroeconomic Indicators ◽  
The Impact

The US economy is one of the richest and most diversified economies in the world and keeps its leadership in the global economy for the past 100 years. The United States is a global leader in computer technology, pharmaceuticals and the manufacture of medical, aerospace and military equipment. And although services make up about 80% of GDP, the US remains the second largest producer of industrial goods in the world and is a leader in research and development. President Donald Trump was elected in November 2016, promising a big gap with his predecessor’s regulatory, tax and trade policies. Therefore, the current socio-economic status of the USA and the possible ways of its development in the future are interesting for studying the impact on other economies, in particular, on the Ukrainian economy and the search for new and optimal ways of developing relations between the United States and Ukraine. Key macroeconomic indicators of the US economy in 2011–2018 are analyzed, demonstrating the influence of Donald Tramp’s new policy on changes in the indicators of the economy, the labor market, trade, etc., as well as possible ways of development in the coming years. The review of key macroeconomic indicators gives grounds for classifying the American economy as healthy one. Rates of GDP growth will remain in the range of 2 to 3%. These rates of growth in the world’s largest economy are callable to ensure a substantial increase in the global activity. But uncertainties in the politics may hinder global growth and have clearly negative impact on the investment growth in developed and developing economies.

scholarly journals COVID-19, Government Response, and Market Volatility: Evidence from the Asia-Pacific Developed and Developing Markets

Economies ◽  
2020 ◽  
Vol 8 (4) ◽  
pp. 105
Author(s):  
Izani Ibrahim ◽  
Kamilah Kamaludin ◽  
Sheela Sundarasen
Keyword(s):  
Developing Economies ◽  
Equity Markets ◽  
The Philippines ◽  
Market Volatility ◽  
Asia Pacific ◽  
Health Crisis ◽  
Government Response ◽  
Intervention Measures ◽  
High Volatility ◽  
The Government

This study examines the relationship between COVID-19, government response measures, and stock market volatilities for 11 developed and developing economies within the Asia-Pacific region. Our period of study is between 15 February–30 May 2020. Using the continuous wavelet transformation (CWT) analysis and plots and GJR-GARCH analysis, we examined the effects of the COVID-19 public health crisis and the corresponding government measures on the respective domestic equity markets volatilities. The CWT plots showed a varying level of market volatilities at different investment horizons. All the sample countries, except Japan, experienced very low or low volatility over the short-term horizons. In contrast, Vietnam, Malaysia, and Laos experienced medium volatility over the medium-term horizons. Finally, China, Japan, South Korea, Malaysia, and the Philippines experienced high volatility over the long-term horizons. The GJR-GARCH results further ascertain that market volatilities are affected by domestic events, notably, the COVID-19 government intervention measures. In most sample countries, the government measures significantly reduce market volatility in the domestic equity markets. Additionally, international events have also triggered market volatilities. Overall, our study offers several contributions and implications for practitioners and policymakers.

scholarly journals Italy on COVID-19: Response and Strategy

2020 ◽  
Vol 14 (2) ◽  
pp. 389
Author(s):  
Fadhila Inas Pratiwi ◽  
Lilik Salamah
Keyword(s):  
Mortality Rate ◽  
Literature Review ◽  
News Media ◽  
Academic Journals ◽  
Think Tank ◽  
Government Response ◽  
The Third ◽  
Government Measure ◽  
The Government ◽  
The Impact

Coronavirus Diseases (COVID-19) in Italy was remarkably immense, with more than two hundred thousand infected cases, and more than thirty thousand people had died because of the virus as of 27th July 2020. The high number of mortality rate makes the Italy case is essential to be further explored. This article aims to elaborate on government response and strategy in handling COVID-19 that spread within the country. This article unfolds in four sections; the first part discusses how COVID-19 could spread massively in Italy and cause death for a thousand people. The second part explains the government measure and its effectivity in containing the virus. The third part elaborates on the impact of COVID-19 along with the government response in the socio-economic aspect. The last part explores the future of Italy after COVID-19. The article employs a literature review that analyzes information from various sources such as academic journals, research reports from the think tank, and news media outlets. Keywords: Coronavirus, Italy, Government, Response Kasus coronavirus di Italia sangat tinggi dan massif dengan lebih dari dua ratus ribu orang terinfeksi dan lebih dari lima puluh ribu orang meninggal pertanggal 27 Juli 2020. Tingginya jumlah orang yang terinfeksi dan jumlah orang yang meninggal membuat Italia menjadi kasus yang menarik untuk dibahas. Tujuan dari artikel ini untuk mengelaborasi tentang bagaimana respon dan strategi pemerintah Italia dalam menangani virus yang sudah menyebar di Italia. Artikel ini terdiri dari empat bahasan, pertama membahas tentang awal mula COVID-19 bisa menyebar secara masif di Italia dan mengakibatkan puluhan ribu orang meninggal. Kedua, membahas tentang bagaimana respon dari pemerintah Italia dan juga efektifitasnya dalam menangani penyebaran virus ini. Ketiga, membahas tentang dampak yang diakibatkan dari COVID-19 beserta respon pemerintah terhadap aspek sosio-ekonomi di Italia. Keempat, mendiskusikan bagaimana masa depan Italia setelah COVID-19. Artikel ini menggunakan tinjauan pustaka untuk melakukan analisis terkait dengan topik artikel yang berasal dari banyak sumber seperti jurnal akademis, laporan peneltian, artikel berita dan lain sebagainya.  Kata-kata Kunci: Coronavirus, Italia, Pemerintah, Respons 

scholarly journals A Study on Effectiveness of FDI on Unorganised Retail Sector of India

2020 ◽  
Vol 8 (3) ◽  
pp. 45-49
Author(s):  
N Kannan ◽  
A Kumar ◽  
P Lakshmi
Keyword(s):  
Open Economy ◽  
Vital Role ◽  
Retail Sector ◽  
Market Place ◽  
The World ◽  
Major Reform ◽  
The Government ◽  
Definition Of ◽  
The Impact ◽  
Tremendous Challenge

Foreign Direct Investment (FDI) plays a very vital role in economic development for any developing and under-developing nation, the largest democracy, and the second-largest populated country in the world is facing a tremendous challenge to fight against inflation and unemployment. FDI can provide the life-blood to the Indian economy. Though late the UPA-II Government, headed by Dr. Manmohan Singh, has decided the d on November-2012, in respect of proposals involving FDI beyond 52 percent, it is mandatory to source 30 percent of the value of the goods purchased from India, preferably MSMEs. Making India is the most open economy in the world, Modi Government announced its second major reform in FDI soon after its deep-seated changes. The Government, since the beginning, has been taken steps to boost FDI in the country to create a different climate so that foreign investors feel confident in investing. Putting an end to the long-standing discussion on the Processing of e-commerce in India, Government permitted 100 percent FDI in the market place format e-commerce retailing and also come up with the definition of a marketplace and inventoryled models of e-commerce. All these factors are dwindling purchasing from unorganized retail shops. This research paper will try to find out the impact of FDI on the unorganized retail sector in India as well as the effectiveness of FDI on Agro Products.

scholarly journals Trends in the management of global economic development in the post-pandemic period

2021 ◽  
pp. 76-86
Author(s):  
Iaroslav Petrunenko ◽  
Valentyna Chychun ◽  
Nataliia Shuprudko ◽  
Yuliia Kalynichenko ◽  
Issa Ali
Keyword(s):  
Economic Development ◽  
Public Confidence ◽  
Important Place ◽  
Forecasting Method ◽  
Short Run ◽  
World Economic ◽  
The Government ◽  
The Impact ◽  
Further Development

This article is devoted to the study of trends in the management of global economic development in the post-pandemic period. The paper developed recommendations for further development of countries in the context of the recurrence of pandemics. With this in mind, the main trends in the development of countries during the pandemic were considered and the impact of quarantine on the economies of various countries was determined. To model the future actions of states, based on studies of the historical preconditions for the development of countries in the post-crisis period, the basic patterns were identified, allowing to predict different scenarios of world economic development. The article introduces a forecasting method of global economic development based on the quadrant of trust and affluence of the population, which allows predicting various options for post-pandemic development according to four possible scenarios. The first option is a rapid V-shaped growth, which is based on the fact that with a sufficient level of public confidence in the government, as soon as the quarantine restrictions expire, the economy will gain momentum. The second one is the long-term U-shaped growth, which is expected to take place in terms of insufficient public confidence in the government, with a population reluctant to invest in economic growth. The third one is the L-shaped development, which does not provide for economic recovery in the short run due to public distrust and the impossibility of business recovery. Finally, the fourth scenario is the worst one: it's the way of development, that occurs in case of impossibility of survival and complete distrust to the government; the population will be forced to organize protests and revolutions, thus making the economy operate even worse. According to the expectations of international regulators, V or U-shaped recovery of the world economy after the COVID-19 pandemic is expected nowadays. Most businessmen believe that post-pandemic development will be U-shaped. To improve the mechanisms of managing the development of world economies, the directions of development are proposed focused not on capitalist, but social goals. The state should occupy an important place in this process acting as a guarantor of efficient allocation of resources and providing social guarantees to the population during possible further cataclysms.

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