scholarly journals ANALYSIS OF SMES CREDIT RESTRUCTURING POLICY IN ECONOMIC RECOVERY DURING THE COVID-19 PANDEMIC

2021 ◽  
Vol 5 (2) ◽  
pp. 405
Author(s):  
Lussi Agustin ◽  
Moh. Yusron Solikin ◽  
Zunairoh .
Keyword(s):  
Financial Services ◽  
Global Economy ◽  
Empirical Studies ◽  
System Stability ◽  
Economic Recovery ◽  
Top Down ◽  
The Difference ◽  
Almost All ◽  
Industry Sectors ◽  
The Impact

Penelitian ini bertujuan untuk menganalisis seberapa maksimal proses kebijakan retrukturisasi Kredit UMKM dalam Pemulihan Ekonomi di Masa Pandemi Covid-19. Kondisi perekonomian global sedang mengalami goncangan hebat akibat mewabahnya Covid-19. Dampak dari pandemic ini sangat mempengaruhi segala aspek terutama pada kondisi Kesehatan dan perekonomian suatu negara, tidak terkecuali Indonesia. Secara keseluruhan, hampir semua sektor industry mengalami goncangan dan tidak terkecuali sektor UMKM. Maka dari itu dikeluarkanlah kebijakan retrukturisasi Kredit UMKM guna mendorong optimalisasi fungsi intermediasi pada perbankan dan menjaga stabilitas sistem keuangan serta mendukung pertumbuhan perekonomian. Program restrukturisasi kredit menjadi program dari OJK yang dapat diterapkan oleh perbankan kepada UMKM. Metode yang digunakan dalam penelitian ini adalah metode kualitatif dengan menggunakan studi empiris dari penelitian terdahulu serta peraturan-peraturan terkait dengan restrukturisasi kredit yang dikeluarkan oleh Otoritas Jasa Keuangan. Hasil penelitian ini menunjukkan bahwa implementasi kebijakan restrukturisai kredit bagi UMKM sudah berjalan dan digunakan oleh para pelaku UMKM. Kemudian berdasarkan implementasinya kebijakan ini merupakan kebijakan top-down dimana memerlukan banyak Lembaga untuk bekerja sama dan keputusan berasal dari Peraturan pemerintah baru di teruskan ke Lembaga-lembaga lain di bawahnya hingga informasinya sampai dan bisa dirasakan oleh para UMKM.  This research aims to analyze the policy of restructuring SMEs Credit in Economic Recovery during the Covid-19 Pandemic. The global economy is experiencing severe shocks due to the outbreak of Covid-19. The impact of this pandemic greatly affects all aspects, especially on the health and economic condition of a country, not least Indonesia. Overall, almost all industry sectors are experiencing shocks and are no exception to the SMEs sector. Therefore, the policy of restructuring SMEs Credit was issued to encourage optimization of intermediation function in banking and maintain the financial system stability and support economic growth. Credit restructuring program becomes a program from OJK that can be applied by banks to SMEs. The method used in this research is a qualitative method using empirical studies from previous research as well as regulations related to credit restructuring issued by the Financial Services Authority. The results of this research show that the implementation of credit restructuring policy for SMEs is already running and used by SMEs. Then based on the difference in implementation of this policy is a top-down policy that requires many Institutions to cooperate and decisions derived from the new government regulations are forwarded to other institutions under it until the information reaches and can be felt by SMEs.

scholarly journals COVID-19 pandemic: A review of the global lockdown and its far-reaching effects

2021 ◽  
Vol 104 (2) ◽  
pp. 003685042110198
Author(s):  
Helen Onyeaka ◽  
Christian K Anumudu ◽  
Zainab T Al-Sharify ◽  
Esther Egele-Godswill ◽  
Paul Mbaegbu
Keyword(s):  
Mental Health ◽  
Global Economy ◽  
World Health ◽  
Global Pandemic ◽  
The World ◽  
Education Delivery ◽  
Environmental Air ◽  
Health Organization ◽  
Almost All ◽  
The Impact

COVID-19, caused by the severe acute respiratory syndrome coronavirus-2 (SARS-CoV-2), was declared a pandemic by the World Health Organization (WHO) on the 11th of March 2020, leading to some form of lockdown across almost all countries of the world. The extent of the global pandemic due to COVID-19 has a significant impact on our lives that must be studied carefully to combat it. This study highlights the impacts of the COVID-19 pandemic lockdown on crucial aspects of daily life globally, including; Food security, Global economy, Education, Tourism, hospitality, sports and leisure, Gender Relation, Domestic Violence/Abuse, Mental Health and Environmental air pollution through a systematic search of the literature. The COVID-19 global lockdown was initiated to stem the spread of the virus and ‘flatten the curve’ of the pandemic. However, the impact of the lockdown has had far-reaching effects in different strata of life, including; changes in the accessibility and structure of education delivery to students, food insecurity as a result of unavailability and fluctuation in prices, the depression of the global economy, increase in mental health challenges, wellbeing and quality of life amongst others. This review article highlights the impacts of the COVID-19 pandemic lockdown across the globe. As the global lockdown is being lifted in a phased manner in various countries of the world, it is necessary to explore its impacts to understand its consequences comprehensively. This will guide future decisions that will be made in a possible future wave of the COVID-19 pandemic or other global disease outbreak.

COVID -19 and Indian Financial Markets: A Review

2020 ◽  
Vol 16 (02) ◽  
pp. 1-8
Author(s):  
Kamaldeep Kaur Sarna
Keyword(s):  
Financial Markets ◽  
Financial Institutions ◽  
Financial Services ◽  
Stock Markets ◽  
Global Economy ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Negative Impact ◽  
Management Strategies ◽  
The Impact

COVID-19 is aptly stated as a Black Swan event that has stifled the global economy. As coronavirus wreaked havoc, Gross Domestic Product (GDP) contracted globally, unemployment rate soared high, and economic recovery still seems a far-fetched dream. Most importantly, the pandemic has set up turbulence in the global financial markets and resulted in heightened risk elements (market risk, credit risk, bank runs etc.) across the globe. Such uncertainty and volatility has not been witnessed since the Global Financial Crisis of 2008. The spread of COVID-19 has largely eroded investors’ confidence as the stock markets neared lifetimes lows, bad loans spiked and investment values degraded. Due to this, many turned their backs on the risk-reward trade off and carted their money towards traditionally safer investments like gold. While the banking sector remains particularly vulnerable, central banks have provided extensive loan moratoriums and interest waivers. Overall, COVID-19 resulted in a short term negative impact on the financial markets in India, though it is making a way towards V-shaped recovery. In this context, the present paper attempts to identify and evaluate the impact of the pandemic on the financial markets in India. Relying on rich literature and live illustrations, the influence of COVID-19 is studied on the stock markets, banking and financial institutions, private equities, and debt funds. The paper covers several recommendations so as to bring stability in the financial markets. The suggestions include, but are not limited to, methods to regularly monitor results, establishing a robust mechanism for risk management, strategies to reduce Non-Performing Assets, continuous assessment of stress and crisis readiness of the financial institutions etc. The paper also emphasizes on enhancing the role of technology (Artificial Intelligence and Virtual/Augmented Reality) in the financial services sector to optimize the outcomes and set the path towards recovery.

The Impact of COVID-19 on Stock Markets

2022 ◽  
pp. 250-262
Author(s):  
Aslı Aybars ◽  
Mehtap Öner
Keyword(s):  
Literature Review ◽  
Financial Markets ◽  
Stock Returns ◽  
Empirical Studies ◽  
The Novel ◽  
The World ◽  
Fast Pace ◽  
Novel Coronavirus ◽  
Almost All ◽  
The Impact

The novel coronavirus, COVID-19, which emerged at the end of 2019 and spread to the world at a very fast pace, resulted in a pandemic affecting the finance industry besides many other industries though at varying extents. Financial markets, which can be regarded as cornerstones of each and every country's economic success, have been adversely influenced due to the fear and uncertainty arising with the emergence of the novel coronavirus at different degrees. This chapter provides a summary of a literature review based on the impact of this pandemic on stock returns and volatility in the stock exchanges of different countries and regions of the world. What has been captured as a result of this literature review is that almost all of the financial markets around the world have been influenced due to the virus. Further, industry-wise empirical studies demonstrate that not all industries are affected at the same level or even in the same direction.

scholarly journals The Impacts of Globalization on Inequality in the Post-COVID-19 World: Evidence From China

2021 ◽  
Vol 9 ◽  
Author(s):  
Tsun Se Cheong ◽  
Yanrui Wu ◽  
Michal Wojewodzki ◽  
Ning Ma
Keyword(s):  
International Trade ◽  
Income Inequality ◽  
Empirical Studies ◽  
County Level ◽  
Primary Industry ◽  
Industry Sector ◽  
Secondary Industry ◽  
Per Se ◽  
Industry Sectors ◽  
The Impact

Empirical studies suggest that globalization (FDI and international trade) has been greatly affected by the COVID-19 and related anti-pandemic measures imposed by governments worldwide. This paper investigates the impact of globalization on intra-provincial income inequality in China and the data is based on the county level. The findings reveal that FDI is negatively associated with intra-provincial inequality, intra-provincial inequality increases as the primary industry sector (agriculture) declines. The result also finds that the increase in inequality stems not from the development in the tertiary or secondary industry sectors per se, but the unevenness in the distribution of these sectors.

Vernetzungsunternehmen der Weltwirtschaft

2007 ◽  
Vol 51 (1) ◽  
Author(s):  
Cordula Neiberger
Keyword(s):  
Global Economy ◽  
New Technologies ◽  
Empirical Studies ◽  
Frankfurt Am Main ◽  
Global Networks ◽  
Foreign Companies ◽  
Air Freight ◽  
Freight Forwarding ◽  
High Degree ◽  
The Impact

Network enterprises of the global economy? The role of proximity for the internationalisation of air freight forwarders. Customer requirements, new technologies and the deregulation and liberalisation measures of the last 15 years have had a significant influence on increasing globalization of the air freight forwarding industry. On the basis of empirical studies of the airports Frankfurt am Main/Germany and Amsterdam/The Netherlands, the study examines the impact of embeddedness of foreign companies in regional networks. It will be shown, that most of the companies do not need to be embedded in foreign networks, because of the global extension of the costumers and a high degree of organizational standardization. In fact the example of international cooperation among medium sized airfreight forwarders of different countries rather shows that global networks can be linked successfully, independent from the regional level.

A Conceptual Tool Kit

2021 ◽  
pp. 31-86
Author(s):  
James V. Wertsch
Keyword(s):  
National Identity ◽  
Narrative Analysis ◽  
Empirical Studies ◽  
Top Down ◽  
Conceptual Tool ◽  
Bottom Up ◽  
National Memory ◽  
Narrative Truth ◽  
Individual Memory ◽  
The Difference

The chapter begins with a section on methods and forms of evidence that outlines the difference between top-down and bottom-up analyses of national memory and notes that the latter will be given more emphasis in this book than is the case in many studies of national identity and memory. The section also argues that by understanding how narrative tools can “co-author” individuals’ speaking and thinking, it is possible to avoid misguided notions of “primordialism” that are part of the rhetorical claims of nationalists. The next section examines the sense in which national memory is memory and argues for the need to focus on remembering individuals as members of groups. This involves a review of ideas from figures such as Maurice Halbwachs and Frederic Bartlett on collective and individual memory. This is followed by a section on “Flashbulb Memories as Memory in the Group,” which uses a body of literature in psychology to develop a conceptually grounded notion of national memory that includes the observation that Bartlett’s notion of schema underpins much of the entire discussion. The next section, on “symbolic mediation,” reviews the origins of this idea in the writings of several European and Russian scholars and goes into the case of literacy as an illustration as outlined in empirical studies by Luria and Vygotsky. It then poses an analogous line of reasoning for narratives as symbolic mediation. This includes a discussion of the “inner logic” of narrative tools, “narrative truth,” and two levels of narrative analysis (“specific narratives” and “narrative templates”).

scholarly journals TAX REFORM AND NONCOMPLIANCE IN INDONESIA

2017 ◽  
Vol 32 (2) ◽  
pp. 87 ◽  
Author(s):  
Heru Iswahyudi
Keyword(s):  
Tax Reform ◽  
Value Added ◽  
National Accounts ◽  
Top Down ◽  
Tax Reforms ◽  
Compliance Behavior ◽  
The World ◽  
The Difference ◽  
The Impact ◽  
Central Board

The purpose of this paper is to examine the impact of Indonesia’s tax reforms of 2000 and 2008/2009 on taxpayers’ noncompliance. Noncompliance is defined as the difference between the Value Added Tax (VAT) liability and the actual revenue. Data are mainly collected from the World Input-Output Database and Indonesia’s Central Board of Statistics. The methodology uses one of the ‘top-down’ approaches, in which national accounts figures are employed to arrive at an estimation of the VAT liability. It is found that compliance deteriorated when reform efforts were incomplete – that is when the reforms suffered from decelerations, setbacks or reversals. This paper contributes to the literature by providing a framework for analyzing the impact of tax reform on taxpayer’s compliance behavior.

scholarly journals Analyzing the Impact of Financial Services Authority (OJK) Regulations in Supporting Economy Recovery During Covid-19 Pandemic: Evidence from Indonesia

2021 ◽  
Vol SP (2) ◽  
Author(s):  
Evi Aryati Arbay ◽  
Lusita Astuti Nusantari
Keyword(s):  
Financial Services ◽  
Banking Sector ◽  
Economic Recovery ◽  
Financial Service Authority ◽  
National Economic ◽  
Keynesian Economic ◽  
The Stability ◽  
The Impact ◽  
Banking Credit

COVID-19 has disrupted economic growth and business conditions globally including in Indonesia. One of the most obvious impacts is in the banking sector as many bank debtors have lost their livelihoods. This situation affects the quality of bank assets and profitability. An increase of non-performing loans experienced by some national banks has decreased the capability to generate optimal profit from bank operations that normally would keep the banks healthy, liquid, solvent, and in a profitable state. To strengthen the stability of Indonesian financial services and support the national economic recovery effort, the Financial Services Authority (OJK) issued several regulations on macroprudential policy relaxation and stimulus provision. The regulations ensure that banks are capable to control the bad credit of the debtors affected by the COVID-19 pandemic. This study aims to analyze the impact of Financial Service Authority Regulations on the quality of banking credit in supporting the Indonesian economic recovery during the COVID-19 pandemic. This is a qualitative study using a critical thinking analysis method to prove the assumption of Keynesian economic theory, which state that in a recession expansionary fiscal policy can stimulate economic activity. The results of this study indicate that the Financial Services Authority regulations have shown an impact in supporting the Indonesian economy recovery efforts amid the COVID-19 pandemic, which can be seen through the stability of the financial system. Further empirical and quantitative studies are needed to confirm the study findings.

scholarly journals Impact of COVID-19 Outbreak on Financial Reporting in the Light of the International Financial Reporting Standards (IFRS) (An Empirical Study)

2020 ◽  
Vol 5 (2) ◽  
pp. p21
Author(s):  
Hasan El-Mousawi ◽  
Hasan Kanso
Keyword(s):  
Financial Reporting ◽  
Global Economy ◽  
Certified Public Accountants ◽  
The Novel ◽  
Financial Reporting Standards ◽  
The World ◽  
Public Accountants ◽  
Novel Coronavirus ◽  
Almost All ◽  
The Impact

The outbreak of a novel type of Coronavirus (COVID-19) in the majority of countries around the world has had many negative implications on almost all aspects of life. Currently, about a quarter of the population of Earth is quarantined at their homes, social distancing is effective everywhere, almost all industries have ceased their activities, and various businesses are either closed down or working from home. Procedures taken by governments or local authorities to improve their ability to contain the outbreak have impacted the global economy, which in turn will have many consequences on financial reporting of organizations. This study examines the impact of the novel Coronavirus outbreak on financial reporting of organizations from the viewpoint of Certified Public Accountants in Lebanon. The researchers have used a descriptive-analytical approach and have constructed a well-structured five-point Likert style questionnaire as the study tool. The questionnaire was distributed to a sample chosen from the population of certified public accountants in Lebanon. The random sample consisted of 300 practitioners of the profession, and 221 of them responded; all of which were valid for testing and analysis. The study reached some important findings mainly that the COVID-19 outbreak has had a significant impact on the financial reporting of businesses according to the opinions of Certified Public Accountants (CPAs) in Lebanon, and the researchers had some recommendations as a result.

PANDEMI COVID-19 IMPLIKASI BAGI PEMBIAYAAN BANK SYARIAH DI INDONESIA

2021 ◽  
Vol 10 (1) ◽  
pp. 164-181
Author(s):  
Ana Zahrotun Nihayah ◽  
Lathif Hanafir Rifqi
Keyword(s):  
Financial Services ◽  
Commercial Banks ◽  
Banking Industry ◽  
Descriptive Study ◽  
Islamic Banking ◽  
Financing Policies ◽  
The World ◽  
Long Time ◽  
Almost All ◽  
The Impact

The Covid-19 pandemic is the result of the spread of coronavirus that occurs almost all over the world. In Indonesia, covid-19 first occurred on 02 March 2020. At that time, Indonesian citizen was infected by one of the Foreign Nationals of Japan. The transmission of covid-19 is increasing for a long time, until now covid-19 has spread in almost all 34 provinces in Indonesia. Health problems that further adversely affect almost all sectors of the industry, one of which is the Islamic banking industry. Therefore, the Financial Services Authority (OJK) issued several stimulus policies as a measure of anticipation of customers defaulting. This research is a descriptive study with the aim to determine the impact of pandemic covid-19 on Sharia bank financing in Indonesia. The samples used in this study were 11 Sharia commercial banks. The results showed that there are 8 Sharia commercial banks experiencing a downward trend in breeding, especially in April 2020. It can be concluded that the impact of covid-19 has a decrease in Sharia banking financing. Policies carried out by each Sharia commercial bank related to the anticipation of covid-19 to its financing activities, each bank implements a financing restructuring policy to debtors affected by the spread of covid-19

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