French men's professional basketball under the economic shock of the Covid-19

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yann Carin ◽  
Cyprien Desquennes ◽  
Lukas Jaworski ◽  
Wladimir Andreff
Keyword(s):  
Economic Model ◽  
Economic Effects ◽  
Product Diversification ◽  
Short Term ◽  
Health Crisis ◽  
Content Type ◽  
Professional Basketball ◽  
Men's Basketball ◽  
Financial Difficulties ◽  
Containment Measures

PurposeThe purpose of this paper is to analyse the economic effects of Covid-19 on French men's professional basketball club championships. Three research questions are raised: What are the characteristics of the economic model of French men's professional basketball? Has this economic model changed over the 2008/2009 to 2018/2019 period? What are the economic effects of the Covid-19 crisis on the finance of French men's professional basketball clubs?Design/methodology/approachRelying on a privileged access to the financial data of professional clubs in the two top-tier divisions (456 observations: 222 in Pro A/Jeep Elite and 234 in Pro B), this research focuses on economic models of French men's professional basketball clubs. The breakdown of revenues, expenses and financial performance is examined over the 2008/2009 to 2018/2019 period. The short-term economic effects of Covid-19 are measured over the 2019/2020 and 2020/2021 seasons.FindingsThe Covid-19 crisis, at least in the short term (2019/2020 season), has affected revenues and expenses. With the closedown of the championship, two out of three main revenue sources have significantly decreased, while two main expense sources have decreased as well. The net incomes of Jeep Elite and Pro B clubs are in the black contrasting with the 2018/2019 season (pre-Covid) owing to clubs having benefited from governmental and federal measures and a stronger support from local authorities and their shareholders.Practical implicationsGiven the financial difficulties that clubs would have faced without governmental support, the federation and leagues would be well advised to develop a real crisis management competence within professional clubs. Owners of French professional men’s basketball clubs must increasingly adopt product diversification strategies to be better prepared for future crises.Originality/valueRecent research on the economic effects of Covid-19 has focused on professional and amateur football. To the best of our knowledge, one does not avail detailed research on the potential effects of a health crisis fought with containment measures on professional basketball clubs. French professional basketball deserves to be studied because it has the third largest professional league revenue (behind football and rugby) and it is the second most practiced sport in France. Its sources of finance, which are different from those witnessed in football and rugby, also make it an appropriate subject for study.

scholarly journals Impact of COVID-19 on the trade of goods and services in Spain

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Asier Minondo
Keyword(s):  
Negative Impact ◽  
The European Union ◽  
Firm Level ◽  
Health Crisis ◽  
Content Type ◽  
Goods And Services ◽  
Containment Measures ◽  
Trade Of Services ◽  
The Impact

Purpose This paper aims to analyze the impact of COVID-19 on the trade of goods and services in Spain. Design/methodology/approach This paper uses monthly trade data at the product, region and firm level. Findings The COVID-19 crisis has led to the sharpest collapse in the Spanish trade of goods and services in recent decades. The containment measures adopted to arrest the spread of the virus have caused an especially intense fall of trade in services. The large share of transport equipment, capital goods, products that are consumed outdoors (i.e., outdoor goods) and tourism in Spanish exports has made the COVID-19 trade crisis more intense in Spain than in the rest of the European Union. Practical implications The nature of the collapse suggests that trade in goods can recover swiftly when the health crisis ends. However, COVID-19 may have a long-term negative impact on the trade of services that rely on the movement of people. Originality/value It contributes to understand how COVID-19 has affected the trade in goods and services in Spain.

Economic reform will falter with new Turkish cabinet

2015 ◽  
Keyword(s):  
Monetary Policy ◽  
Economic Reform ◽  
Prime Minister ◽  
Job Creation ◽  
Domestic Demand ◽  
Election Campaign ◽  
Short Term ◽  
Content Type ◽  
Political Risks ◽  
Financial Difficulties

Significance Presenting his government's programme on November 25, Prime Minister Ahmet Davutoglu promised to keep his election campaign pledges, complete major infrastructure projects, maintain fiscal stability and implement structural change. Impacts Domestic demand will strengthen in the short term. However, firms in labour intensive sectors may face financial difficulties, and new job creation may be slow. Currency and capital markets are likely to remain volatile and overreact to trends in monetary policy and the current account. Opportunities exist for those investors able to tap into the government's priorities and avoid political risks.

Croatia's political weaknesses will slow growth

2017 ◽  
Keyword(s):  
Economic Model ◽  
Slow Growth ◽  
Economic Convergence ◽  
Short Term ◽  
Content Type ◽  
The Third ◽  
Business Confidence ◽  
The Right ◽  
The Eu

Significance Inflation seems to have returned to the economy following three years of near-continual deflation. After years in the doldrums, the Croatian economy is finally experiencing respectable growth and various indicators are now pointing in the right direction. However, the recovery is based on short-term factors that cannot easily be sustained, and the foundations of the economy remain weak. Impacts The current spate of growth is helping to prop up a weak government and a socio-economic model to which many Croats are averse. Respectable growth has lifted business confidence in the third quarter to its highest level since 2009. Apparent economic convergence with the rest of the EU is reviving the question whether and when Croatia should adopt the euro.

Suga will hold Japan steady in short term only

2020 ◽  
Keyword(s):  
Public Health ◽  
Foreign Policy ◽  
Presidential Election ◽  
Short Term ◽  
Health Crisis ◽  
Content Type ◽  
Policy Initiatives ◽  
Public Health Crisis ◽  
The Us ◽  
Us Presidential Election

Significance He leaves office having failed to achieve his ambition to reform Japan’s constitution, and is widely seen as having mismanaged the most serious public health crisis in decades. Impacts New foreign policy initiatives are unlikely until after the US presidential election. Abe could make a decision before leaving office on whether Japan should acquire pre-emptive strike capabilities. No moves on constitution revision are likely for the next twelve months at least. Japan would be at a disadvantage if a foreign policy crisis were to occur in the next twelve months, and the next few weeks in particular. Whether the Olympics next summer go well will have some influence on whether Suga stays on as leader.

Vote narratives have no lasting relevance for Russians

2020 ◽  
Keyword(s):  
Political Uncertainty ◽  
Short Term ◽  
Health Crisis ◽  
Content Type ◽  
Parliamentary Elections ◽  
Early Voting ◽  
The Right ◽  
Vladimir Putin ◽  
Election Commission ◽  
Do So

Significance The changes enable Vladimir Putin to run for the presidency again in 2024 and 2030, despite his repeated promises not to do so. As the authorities went all-out to secure the right result, the early voting process was less than transparent and there were numerous reports of abuses and fraud on the day. Impacts The key short-term factor for political uncertainty is the duration of the COVID-19 crisis. The Kremlin has deflected blame from itself so far but a deepening health crisis could make this unsustainable. Following claims of vote-rigging, election commission chief Ella Pamfilova may be sacrificed ahead of the parliamentary elections.

scholarly journals The Economic Effects of COVID-19 Containment Measures

2020 ◽  
Vol 20 (158) ◽  
Author(s):  
Pragyan Deb ◽  
Davide Furceri ◽  
Jonathan Ostry ◽  
Nour Tawk
Keyword(s):  
Monetary Policy ◽  
Economic Activity ◽  
Economic Effects ◽  
Economic Costs ◽  
Short Term ◽  
Absolute Value ◽  
Containment Measures ◽  
Policy Measures ◽  
Fiscal And Monetary Policy ◽  
Global Data

Containment measures are crucial to halt the spread of the 2019 COVID-19 pandemic but entail large short-term economic costs. This paper tries to quantify these effects using daily global data on real-time containment measures and indicators of economic activity such as Nitrogen Dioxide (NO2) emissions, flights, energy consumption, maritime trade, and mobility indices. Results suggest that containment measures have had, on average, a very large impact on economic activity—equivalent to a loss of about 15 percent in industrial production over a 30-day period following their implementation. Using novel data on fiscal and monetary policy measures used in response to the crisis, we find that these policy measures were effective in mitigating some of these economic costs. We also find that while workplace closures and stay-at-home orders are more effective in curbing infections, they are associated with the largest economic costs. Finally, while easing of containment measures has led to a pickup in economic activity, the effect has been lower (in absolute value) than that from the tightening of measures.

Pandemic will increase El Salvador financing needs

2020 ◽  
Keyword(s):  
Economic Growth ◽  
Natural Disasters ◽  
Foreign Investment ◽  
Gang Violence ◽  
Health Crisis ◽  
Content Type ◽  
Weak Response ◽  
Response Capacity ◽  
Containment Measures ◽  
Frequent Exposure

Significance The second quarter will almost certainly be worse. COVID-19 containment measures have hit consumption and investment while a US slowdown in the first half of the year has weighed on exports, tourism and remittances. Hotels and restaurants, transport and construction have suffered the greatest contractions. Impacts Gang violence and related corruption will continue to weigh on foreign investment. Tensions between Bukele and the Legislative Assembly pre-date the health crisis and will endure even if the crisis recedes. Frequent exposure to natural disasters and weak response capacity will continue to hinder economic growth.

scholarly journals The coronavirus pandemic, short-term employment support schemes and undeclared work: some lessons from Europe

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Colin C. Williams ◽  
Gamze Oz-Yalaman
Keyword(s):  
Voluntary Disclosure ◽  
Financial Support ◽  
Paid Work ◽  
Income Support ◽  
Short Term ◽  
Content Type ◽  
Face To Face ◽  
Financial Difficulties ◽  
Undeclared Work ◽  
Practical Implications

PurposeThe temporary enforced closure of businesses in response to the coronavirus pandemic has resulted in governments in Europe and beyond offering short-term financial support to the businesses and workers affected. The purpose of this paper is to evaluate a group of workers unable to benefit from the short-term job retention schemes and support to the self-employed made available by governments, namely, those whose paid work is comprised wholly of undeclared work, and how this could be addressed.Design/methodology/approachTo identify those whose paid work is entirely undeclared, a Eurobarometer survey of undeclared work in Europe is reported conducted in September 2019, just prior to the pandemic, and involving 27,565 face-to-face interviews in 28 European countries.FindingsThe finding is that the paid work of one in every 132 European citizens is comprised wholly of undeclared work, and these workers are concentrated in non-essential businesses and activities severely affected by the lockdown. These workers whose paid work is comprised wholly of undeclared work are significantly more likely to be widowed or divorced/separated, living in households with three or more adults, without children and most of the time have financial difficulties in making ends meet.Practical implicationsGiven that businesses and workers in the undeclared economy are largely unable to work under lockdown, it is argued that providing access to short-term financial support, through a regularisation initiative based on voluntary disclosure, would not only provide the income support these workers need but also bring them out of the shadows and put them on the radar of the state authorities, thus transforming undeclared work into declared work.Originality/valueThis paper shows how in the current or repeat lockdowns, the short-term financial support made available by governments can be used to transform undeclared work into declared work.

COVID-19 may give Lebanon’s premier a short-term boost

2020 ◽  
Keyword(s):  
Economic Crisis ◽  
Prime Minister ◽  
Poverty Line ◽  
Economic Effects ◽  
Short Term ◽  
Content Type ◽  
Security Services ◽  
Breathing Space ◽  
The Government

Significance This came shortly after Prime Minister Hassan Diab addressed the nation, promising a 1.2-trillion-Lebanese pound (400-million-dollar) stimulus plan -- although it was unclear how this would be funded. The pandemic has in some ways provided a breathing space for Diab’s controversial, two-month-old cabinet, which was already facing a dire debt-driven economic crisis and popular unrest. It has focused national attention and allowed the government to demonstrate competence in its response -- managing the return of many Lebanese expatriates and since March 21 implementing a lockdown that has kept case numbers relatively low. Impacts The Lebanese pound is set to devalue further. With no realistic rescue plan for businesses, the economic effects of the lockdown could push many more people below the poverty line. The security services’ covert campaign against protests leaders could lead to more disorganised protests when the country reopens. Hezbollah could further disengage from its military role in Syria, focusing on protecting its community and domestic position.

Coronavirus may cut global growth to 2% in early 2020

2020 ◽  
Keyword(s):  
Financial Markets ◽  
Infection Rate ◽  
Economic Effects ◽  
Chinese People ◽  
Content Type ◽  
Economic Threat ◽  
Key Characteristics ◽  
Containment Measures ◽  
The Impact ◽  
Global Growth

Subject Economic impact of the coronavirus. Significance The shape of the human and economic effects of such epidemics can be easily mapped, but the scale and length can vary enormously. Critical factors determining this include the key characteristics of the virus, the efficacy of containment measures and the type of economies involved. China accounts for a far larger share of world GDP and trade than in past decades, and this epidemic poses a serious economic threat in coming months. The death rate seems to be much lower than for SARS in 2003 but the infection rate is far higher. The third key characteristic, the incubation rate, is similar, at two weeks. Impacts The epidemic and the ensuing economic turbulence will continue for at least two months despite substantial quarantine efforts. If the infection rate is similar to annual flu strains and quarantining is ineffective, many millions of Chinese people could be infected. The pharmaceutical industry aims to produce a vaccine in record time, boosting confidence in the ability of science to manage outbreaks. Financial markets enjoyed a New Year rally, but volatility is likely to surge as markets will struggle to price the impact of the outbreak.

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