scholarly journals Responding to the pandemic, can building homes rebuild Australia?

2020 ◽  
Author(s):  
Steven Rowley ◽  
Adam Crowe ◽  
Catherine Gilbert ◽  
Marko Kruger ◽  
Chris Leishman ◽  
...  
Keyword(s):  
Construction Industry ◽  
Economic Recession ◽  
Australian Economy ◽  
Economic Stimulus ◽  
Housing Industry

With the construction industry long being held up as an ideal mechanism for delivering economic stimulus in periods of economic recession and stagnation, this research assesses how the housing industry can help rebuild the Australian economy both during and after the COVID-19 pandemic.

scholarly journals Industrial legislation in Australia, 2020

2021 ◽  
pp. 002218562110082
Author(s):  
Eugene Schofield-Georgeson
Keyword(s):  
Social Welfare ◽  
Labour Market ◽  
Federal Government ◽  
Construction Industry ◽  
Workers Compensation ◽  
State Governments ◽  
The Past ◽  
Wage Theft ◽  
Economic Stimulus ◽  
Liberal Government

In 2020, the Federal Morrison Liberal Government scrambled to respond to the effects of the international coronavirus pandemic on the Australian labour market in two key ways. First, through largescale social welfare and economic stimulus (the ‘JobKeeper’ scheme) and second, through significant proposed reform to employment laws as part of a pandemic recovery package (the ‘Omnibus Bill’). Where the first measure was administered by employers, the second was largely designed to suspend and/or redefine labour protections in the interests of employers. In this respect, the message from the Federal Government was clear: that the costs of pandemic recovery should be borne by workers at the discretion of employers. State Labor Governments, by contrast, enacted a range of industrial protections. These included the first Australia ‘wage theft’ or underpayment frameworks on behalf of both employees and contractors in the construction industry. On-trend with state industrial legislation over the past 4 years, these state governments continued to introduce industrial manslaughter offences, increased access to workers’ compensation, labour hire licensing schemes and portable long service leave.

scholarly journals Review of Economic Stimulus Packages to Fight the Covid-19 Pandemic: Evidence from Malaysia

2021 ◽  
Vol 2 (5) ◽  
pp. 124-134
Author(s):  
Waqas Mehmood ◽  
Rasidah Mohd-Rashid ◽  
Attia Aman Ullah ◽  
Owais Shafique
Keyword(s):  
Public Health ◽  
Economic Recession ◽  
Mass Scale ◽  
Tourism Industry ◽  
Economic Recovery ◽  
Economic Activities ◽  
Economic Stimulus ◽  
The Government ◽  
The Impact ◽  
Malaysian Government

The purpose of this study is to describe the COVID-19 situation in Malaysia and the way the government of Malaysia manages the impact of this pandemic through economic recovery packages such as economic stimulus packages. This study focuses on the effects of the economic stimulus packages released by the government of Malaysia as a response to the economic recession triggered by COVID-19. Malaysia is one of the favourite tourist destinations, and the tourism industry generates about 5.9% of the country’s GDP. However, the lockdown imposed by the Malaysian government to combat the COVID-19 pandemic has severely affected almost every sector of the economy. The Malaysian government has taken several steps to control the spread of the pandemic, such as declaring hotspots of COVID-19, imposing lockdowns, and creating mass scale awareness through social media and TV channels. The government has also deployed several economic strategies such as economic stimulus packages to help industries and the people. This study concludes that the mitigation techniques, i.e., economic stimulus packages adopted are working properly; however, some improvements are required as these techniques are inadequate to manage the transmission capability and virulence of COVID-19. Thus, more attention is required for the revival of economic activities. This study helps to obtain an insight into the effects of economic packages and how effective these packages have been in managing the spread of the COVID-19 virus and mitigating the economic recession. It also provides an understanding of how these packages will help flatten the pandemic curve in the future. This study provides information on the current COVID-19 situation in Malaysia. It also offers information on the policies and methods used by the government to solve economic and public health issues. Further, this study lays out guidelines for policymakers and government officials for the development of more effective strategies for economic recovery and public health initiatives.

scholarly journals The Impact of Housing Loans on Economic Growth in Turkey: Times Series Analysis for 2010-2015 Period

2017 ◽  
Vol 7 (1) ◽  
pp. 25-30
Author(s):  
Gülay Selvi Hanişoğlu ◽  
Özlem Arzu Azer
Keyword(s):  
Economic Growth ◽  
Construction Industry ◽  
Economic Crisis ◽  
Foreign Currency ◽  
Times Series ◽  
Turkish Economy ◽  
Global Economic Crisis ◽  
Housing Industry ◽  
Times Series Analysis ◽  
The Impact

Turkish economy has a growing trend after the 2000-2001 economic crises, although ups and downs were experienced in some periods. Some of the important components of Turkish economy are the construction industry and the related housing industry. The construction industry in Turkey has a multiplier effect in the economy since it uses domestic inputs and creates jobs for the labor. Also, the construction sector actors operate overseas and enable inflow of foreign currency to Turkey, thus fostering economic growth. In the recent years, foreign funds and overseas firms have an increasing interest in Turkish construction industry. The Turkish housing industry as one of the leading components of construction industry has also experienced eye-catching developments in the recent years. Definitely, the Turkish housing industry is now much more competitive compared to former years. The global economic crisis of 2008 originated from the housing industry and had devastating effects all over the world. However, the 2008 global economic crisis had relatively lighter effects in Turkey. Parallel to the improvements in construction and housing industries, several financial alternatives exist today. Banks have diversified their credit products considering the needs of consumers. Moreover, the mortgage law going in effect and the mortgage practices becoming popular have contributed to the progress of housing industry. This study analyzed the effect of housing loans and their diversification on economic growth. The research concentrated on the 2010-2015 period, where the impact of 2008 global crisis has diminished.

scholarly journals GLOBAL ECONOMIC RECESSION: CAUSES AND EFFECTS ON NIGERIA BUILDING CONSTRUCTION INDUSTRY

2018 ◽  
Vol 9 (1) ◽  
pp. 9-18
Author(s):  
Olanrewaju O. I. ◽  
Idiake J.E. ◽  
Oyewobi L.O. ◽  
Akanmu W. P
Keyword(s):  
Construction Industry ◽  
Economic Recession ◽  
Building Construction

scholarly journals The Impact of the COVID-19 Pandemic in Pulau Pinang, In the Context of the Housing Industry

2020 ◽  
pp. 137-141
Author(s):  
Norazmawati Md. Sani
Keyword(s):  
Qualitative Methods ◽  
Construction Industry ◽  
Service Sector ◽  
Public Awareness ◽  
Business Sector ◽  
Negative Effects ◽  
Study Population ◽  
Housing Industry ◽  
The Impact

The covid-19 pandemic, declared in December, 2019, has brought about not only changes in lifestyles, but also changes in areas such as the construction industry, the service sector, and the business sector among others. This investigation delves into the effects of covid-19, in terms of the housing industry in Pulau Pinang. The qualitative methods employed with this undertaking, were applied for the housing industry at Seberang Perai, Pulau Pinang, which represented the study population. Other than providing recommendations for improving Pulau Pinang’s housing industry, we also aim to raise public awareness and address concerns relating to this industry. Generally, this investigation will serve to provide avenues for reducing the negative effects of covid-19, to consequently ensure the growth of the housing industry in Pulau Pinang.

scholarly journals A strategy to overcome the effect of economic recession on construction industry in Oman

2020 ◽  
Author(s):  
Yahya Khalfan Al-Tobi ◽  
Ram Kishore Manchiryal
Keyword(s):  
Construction Industry ◽  
National Income ◽  
Economic Recession ◽  
Management Style ◽  
Sultanate Of Oman ◽  
Suggested Strategy ◽  
Great Pressure ◽  
The Government ◽  
Financial Fluctuations ◽  
The Impact

Construction industry firms are affected by the financial fluctuations in the local and international markets. World countries have been exposed to many financial recessions such as the 2008 recession and the sharp decline in oil prices since 2014, which caused a major financial recession in countries that depend heavily on oil income in their economy like the Sultanate of Oman, where they constitute 70% of the national income. The research objective is to review previous literature review of some countries that have been exposed to economic recessions and how did these countries acclimatization to the recession. It will also focus on the strategies that followed by these countries to get out from the recession. Then, the research will identify the effects of the recession in the construction industry and the impact of it to the contractor in the Sultanate of Oman. Finally, a strategy will be suggested for the construction industry firm to use it through the economic recession to survive. The research methodology relies mainly on information provided by the Government of Oman through the National Center for Statistics and Information and through interviews with various construction specialists. The results show that most of the construction industry firms have been subjected to a great pressure due to the economic recession. The suggested strategy includes a procedure that assists construction firms to reduce expenses, how to bid and get new projects and create a new management style for the firm to cope with the developments and the volatility of the financial market.

scholarly journals Investigating the Effects of Economic Crisis on Construction Projects in Iraq

2021 ◽  
Vol 318 ◽  
pp. 02005
Author(s):  
Ghasaq A. Fadhil ◽  
Abbas M. Burhan
Keyword(s):  
Financial Crisis ◽  
Construction Industry ◽  
Economic Crisis ◽  
Construction Projects ◽  
Economic Recession ◽  
Complex Activity ◽  
Unexpected Events ◽  
Construction Companies ◽  
The Impact ◽  
Very High

Construction is a complex activity performed in an almost uncontrolled environment. Although, in theory, projects can be well planned in advance, there is a possibility that unexpected events and crises will disrupt these plans, which will affect the progress of projects. Construction companies can be easily affected by crises because the initial investment costs are very high in construction projects, which may lead to huge financial damages. One of the most prominent crises that Iraq faced was the financial crisis in 2014, which had a significant impact on various activities and the construction industry. This research aims to explore the most important causes of the economic crises in Iraq in general, investigate the impact of this crisis on the construction industry in Iraq particularly, explore the most important factors that contributed to the aggravation of the crisis in this area. Finally, explore the most important strategies adopted by higher authorities and construction companies during the economic recession that followed the crisis to mitigate its impact. One hundred fifty-one closed questionnaires were distributed for this purpose. The results showed that financial and administrative corruption is one of the most important causes of crises with (RII) 0.93. Also, 82% of the respondents answered that the projects had increased their duration significantly so that it was difficult to set a date for their completion due to the insolvency or inability of the Iraqi state to pay the financial dues to the contractors. This insolvency negatively impacted the construction industry during the crisis with RII (0.832).

Dampak Pandemi COVID-19 terhadap Perekonomian Dunia

2021 ◽  
Vol 2 (2) ◽  
Author(s):  
Bambang Arianto
Keyword(s):  
World Economy ◽  
Economic Recession ◽  
Literature Study ◽  
Study Approach ◽  
The World ◽  
World Economic ◽  
Economic Stimulus ◽  
Negative Impacts ◽  
The Stability ◽  
The Impact

ABSTRAKArtikel ini bertujuan mengelaborasi dampak pandemi virus Corona 19 (Covid-19) terhadap perekonomian dunia. Dikarenakan pandemi Covid 19 telah mempengaruhi stabilitas perekonomian dunia menjadi stagnan dan negatif. International Moneter Fund menyatakan bahwa pandemi Covid 19 telah menyebabkan terjadinya resesi dunia yang ditandai dengan peningkatan angka pengangguran dan kemiskinan setiap negara di dunia. Sedangkan pemulihan ekonomi dengan memperkuat stimulus ekonomi melalui strategi lokal menjadi salah satu alternatif mengembalikan pelembagaan ekonomi di setiap negara. Penelitian ini menggunakan pendekatan studi kepustakaan dengan merujuk berbagai literatur sebagai data pendukung. Artikel ini berpendapat bahwa dampak pandemi Covid-19 telah memberikan banyak dampak negatif bagi perekonomian dunia yang menyebabkan terjadinya resesi ekonomi dunia. Artikel ini juga berpendapat bahwa setiap negara wajib memperkuat stimulus ekonomi untuk menjaga stabilitas ekonomi bangsa. Kata Kunci : Ekonomi dunia, Stimulus Ekonomi, Covid-19. ABSTRACT This article aims to elaborate on the impact of the Corona 19 (Covid-19) virus pandemic on the world economy. Because the Covid 19 pandemic has affected the stability of the world economy to become stagnant and negative. The International Monetary Fund stated that the Covid 19 pandemic had caused a world recession marked by an increase in unemployment and poverty in every country in the world. Meanwhile, economic recovery by strengthening economic stimuli through local strategies is an alternative to restore economic institutionalization in each country. This study uses a literature study approach by referring to various literatures as supporting data. This article argues that the impact of the Covid-19 pandemic has had many negative impacts on the world economy which led to a world economic recession. This article also argues that every country is obliged to strengthen economic stimulus to maintain the stability of the nation's economy.Keywords : World economy, Economic Stimulus, Covid-19.

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