Competition Policy under Economic Crisis

2009 ◽  
pp. 54-69 ◽  
Author(s):  
A. Shastitko ◽  
S. Avdasheva ◽  
S. Golovanova
Keyword(s):  
Division Of Labor ◽  
Economic Crisis ◽  
Industrial Policy ◽  
Competition Policy ◽  
Transition Economy ◽  
Economic Recession ◽  
Price Rigidity ◽  
Key Factor ◽  
Policy Measures ◽  
The Impact

The analysis of competition policy under economic crisis is motivated by the fact that competition is a key factor for the level of productivity. The latter, in its turn, influences the scope and length of economic recession. In many Russian markets buyers' gains decline because of the weakness of competition, since suppliers are reluctant to cut prices in spite of the decreasing demand. Data on prices in Russia and abroad in the second half of 2008 show asymmetric price rigidity. At least two questions are important under economic crisis: the 'division of labor' between pro-active and protective tools of competition policy and the impact of anti-crisis policy on competition. Protective competition policy is insufficient in transition economy, especially in the days of crisis it should be supplemented with the well-designed industrial policy measures which do not contradict the goals of competition. The preferable tools of anti-crisis policy are also those that do not restrain competition.

The impact of economic crisis on mental and physical health in Italy

2017 ◽  
Vol 14 (02) ◽  
pp. 103-110
Author(s):  
S. Tomassi ◽  
M. Ruggeri
Keyword(s):  
Mental Health ◽  
Physical Health ◽  
Economic Crisis ◽  
Social Determinants ◽  
Great Recession ◽  
Economic Recession ◽  
Behavioural Disorders ◽  
Economic Activities ◽  
The Impact ◽  
Mental And Physical Health

Summary Background: The global crisis that began in 2007 has been the most prolonged economic recession since 1929. It has caused worldwide tangible costs in terms of cuts in employment and income, which have been widely recognised also as major social determinants of mental health (1, 2). The so-called “Great Recession” has disproportionately affected the most vulnerable part of society of the whole Eurozone (3). Across Europe, an increase in suicides and deaths rates due to mental and behavioural disorders was reported among those who lost their jobs, houses and economic activities as a consequence of the crisis.

Trade and Industrial Policy for Development

2016 ◽  
pp. 25-35 ◽  
Author(s):  
John T. Thoburn
Keyword(s):  
Developing Countries ◽  
Trade Liberalization ◽  
Industrial Policy ◽  
East Asian ◽  
Second World War ◽  
Washington Consensus ◽  
World War ◽  
Policy Measures ◽  
The Impact ◽  
Second World

This chapter looks at policies for industrialization in developing countries, considering changes that have taken place since the Second World War, including the rise and subsequent demise of the so-called Washington Consensus approach. It discusses import substituting industrialization, export development, trade liberalization and the impact of post-2000 new WTO rules on trade-related policy measures. It shows how the East Asian model of substantial government intervention in the economy has been followed by a number of successful countries, not just Japan, Korea and Taiwan, but also China and Vietnam.

scholarly journals The Implications of the Recent Economic Crisis on Fertility in Greece

2015 ◽  
Vol 3 (1) ◽  
pp. 154 ◽  
Author(s):  
Byron Kotzamanis ◽  
Anastasia Kostaki
Keyword(s):  
Social Security ◽  
Economic Crisis ◽  
Economic Recession ◽  
Developed Countries ◽  
Economic Crises ◽  
Family Policies ◽  
Negative Effects ◽  
Social Security Systems ◽  
Close Relationship ◽  
The Impact

A systematic review of past economic recessions occurred in developed countries confirms that social and economic crises often have serious effects on fertility while, beyond national differentiations, these effects have certain characteristics, e. g. a weak effect on generational fertility;an postponement on the timing of first birth, closely related to a late marriage or union;a close relationship between unemployment and age-specific fertility. The sensitivity of fertility behavior to economic crises is less marked in countries with longstanding family policies and strong social security systems. The recent social and economic recession in Greece took place under different social conditions than many recessions in the past. More women than ever are participating in the labor market, most couples use reliable contraception that enables them to postpone childbearing, while social security and health costs are burdened from the rapidly expanding numbers of elderly. All these factors can affect reproductive decisions and potentially aggravate the negative effects of the recession on fertility. This work, using the latest available official data of Greece, provides an investigation of the impact of the current economic crisis on fertility levels, as well as the evolution of these levels through time.

scholarly journals Health, employment and recession: the impact of the global crisis on health inequities in New Zealand

2010 ◽  
Vol 6 (4) ◽  
Author(s):  
Clair Mills
Keyword(s):  
New Zealand ◽  
Gross Domestic Product ◽  
Economic Crisis ◽  
Economic Recession ◽  
Health Inequities ◽  
Global Crisis ◽  
Per Capita Gdp ◽  
Unemployment Rates ◽  
Per Capita ◽  
The Impact

New Zealand entered a period of economic recession in early 2008, intensified by the global economic crisis of September 2008. Gross domestic product (GDP) fell consistently during 2008, and that year saw the economy’s worst performance in over a decade (The Treasury, 2010a). Real per capita GDP contracted through 2009 and, despite some market optimism in early 2010, economic indicators remain sluggish. Unemployment rates have risen and remain the highest seen since the last recession in 1997–98. The Treasury recently stated that ‘the current recovery is likely to remain muted relative to past recoveries’ (The Treasury, 2010b). 

Global financial economic crisis transmission on the transition economy

2019 ◽  
Vol 12 (1) ◽  
pp. 1-22
Author(s):  
Nargiza Alymkulova ◽  
Junus Ganiev
Keyword(s):  
Exchange Rate ◽  
Economic Crisis ◽  
Transition Economy ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Financial Economic ◽  
Kyrgyz Republic ◽  
Content Type ◽  
The Exchange Rate ◽  
The Impact

Purpose The global financial crisis hit the economy of the Kyrgyz Republic by the third wave of its transmission in early 2009. The purpose of this study is to examine the impact of the global financial economic crisis on the transition economy of the Kyrgyz Republic. As there is a low level of the Kyrgyz Republic’s integration into the global financial and economic processes, it is obvious that channels of transmissions are different. Design/methodology/approach The empirical model is the vector autoregression approach. The quarterly data from 2005 to 2013 of the remittances from abroad, trade volumes, exchange rates, credits, deposits and liquidity of the banking system, gross domestic product (GDP) and foreign direct investment (FDI) were used in the empirical analysis. Findings The authors found a significant positive relation between transmission channels such as remittances flow, banking sector, international trade and GDP within the first six months. Thus, a decline in the aforementioned variables has a significant affirmative effect on the country’s GDP. Notwithstanding, the exchange-rate channel adversely influences GDP. Thereby, the depreciation of the national currency leads to an increase in GDP. Originality/value The study findings allow the Kyrgyz policymakers to foresee the global crisis transmission through the primary channels of transmission mechanism. Nevertheless, a decrease of the deposit level by 1 per cent leads to 2.91 per cent decline in FDI inflows. On the contrary, an increase of the exchange rate by 1 per cent leads to 1.54 per cent decrease in imports.

scholarly journals The impact of economic crisis on regional disparities and the allocation of economic branches in Greek regions

2019 ◽  
Vol 44 (44) ◽  
pp. 7-21
Author(s):  
Manolis Christofakis ◽  
Eleni Gaki ◽  
Dimitrios Lagos
Keyword(s):  
Economic Crisis ◽  
Regional Policy ◽  
Research Problem ◽  
Regional Disparities ◽  
Metropolitan Region ◽  
Future Research ◽  
Economic Sectors ◽  
Crisis Period ◽  
Policy Measures ◽  
The Impact

AbstractThe objective of this paper is to analyse the changes that occurred in the regional disparities and sectoral specialisation of the Greek regions due to the economic crisis. The research problem is to identify the effect that the crisis had on the developmental perspectives of the regions and on regional policy priorities. In this framework, we explore the regional disparities, along with the allocation and specialisation of economic sectors in two separate time periods: the pre-crisis period (2000–2007) and the crisis period (2008–2014). The variable used is regional employment in the branches of economic activity. The methods used are Coefficient of Variation, Location Quotients and Shift-Share Analysis. According to the results, we classify the spatial units into categories and we propose means of regional policy. The results show that the disparities increased during the first period of the crisis and declined in the next, without, however, reaching the levels of 2000. In the first period the dynamic economic sectors are concentrated mainly in the metropolitan region of Attica and in the island region of South Aegean, while local advantages are shown in several regions except Attica. During the period of crisis, Attica and South Aegean lost their sectoral dynamism, while a few regions resisted. Regarding the local share effects, the more urbanised regions show negative local shares. The rest of the regions exhibit local advantages. Thus, according to these results, a concluding remark is that the more traditional activities seem to be more resilient, unlike the modern activities, which seem more sensitive to the crisis and are located mainly in the large cities and the most urbanised regions of the country. Regarding the proposed regional policy means, infrastructure improvement is indicated for most of the urbanised regions in order to improve their developmental environment. For the other regions, a more balanced sectoral structure must be promoted. Of course, in order to propose more targeted policy measures, it is important that regional development features (according to the classification of the regions and the proposed policy measures) be adapted to smaller areas and to a greater number of narrower economic sectors, rather than simply applying them at the regional level. This is also true of the effect that some other factors such as human capital and innovative capacity have on regional resilience. Future research will focus on this.

scholarly journals Assessment of the Impact of the Financial and Economic Crisis and the COVID-19 Pandemic on the National Labor Market

2020 ◽  
pp. 177-182
Author(s):  
L. Shamileva ◽  
◽  
O. Khandii ◽  
Keyword(s):  
Labor Market ◽  
Economic Crisis ◽  
Economic Recession ◽  
Economic Consequences ◽  
Electricity Production ◽  
Social Risks ◽  
Declining Demand ◽  
Social Insecurity ◽  
The Impact ◽  
National Labor Market

The impact of quarantine restrictions during the global COVID-19 pandemic and the financial and economic crisis on the national labor market was explored in the article. Possible changes in the number of people employed in various sectors of the Ukrainian economy were determined on the basis of estimates of expected production volumes and subject to maintaining the achieved level of labor productivity in previous years. The characteristic was given to the negative trends of declining demand for personnel by industry, construction, services. Metallurgical production, mechanical engineering, electricity production, textile clothing production, production of consumer durables were attributed to the main types of industrial activity, where there are very negative trends in production. The expected amount of layoffs and growth in the number of unemployed was calculated for the crisis period of 2020-2021. The reduction of staff occurred in more than a third of enterprises in construction and services, which is taken into account in the calculations. Three temporal stages of overcoming the economic recession and overcoming the economic consequences of quarantine, which determine the content, nature and depth of social risks in the system of social and labor relations and in the field of employment, were proposed. The sequence of social risks associated with declining business activity, quarantine restrictions during the COVID-19 pandemic, and the intensification of the digitalization of the economy and society has been determined. The growth of social insecurity and insufficiency of livelihoods is expected at the first stage, the risks of unemployment persist, the risks of non-compliance of labor supply with educational and professional needs of the labor market, increased labor migration, increased partial and informal employment increase in the second stage; social risks due to the intensity of digitalization increase in the third stage.

scholarly journals The Environmental Strategy of Businesses as an Option under Recession in Greece

2018 ◽  
Vol 10 (12) ◽  
pp. 4399 ◽  
Author(s):  
Andreas Fousteris ◽  
Eleni Didaskalou ◽  
Markos-Marios Tsogas ◽  
Dimitrios Georgakellos
Keyword(s):  
Financial Performance ◽  
Competitive Advantage ◽  
Economic Crisis ◽  
Critical Role ◽  
Economic Recession ◽  
Decisive Role ◽  
Business Environment ◽  
Environmental Strategy ◽  
The Impact

In recent years and mostly during the last two decades, the decisive role of the environment in the business administration field and business life in general has emerged. In the modern, fast changing, and highly competitive business environment, and even more so in the context of the recent economic crisis, businesses constantly struggle to survive, trying to resolve problems and improve their performance and competitive advantage. Therefore, they must save and invest substantial sums of money to build strong infrastructure, to change procedures, and to produce environmentally friendly products. In view of the above, the current study attempted to examine the impact of environmental strategy on the growth of medium and large enterprises in all sectors in Greece, in a period of economic crisis. The study, carried out in February and March 2018, confirmed the positive correlation and the critical role of environmental strategy in the financial performance of Greek enterprises during this period of economic recession. Both eco-efficient practices and innovative practices lead to the creation of competitive advantage and, thus, to the improvement of the financial performance of a firm.

scholarly journals Productive integration, economic recession and employment in Europe: an assessment based on vertically integrated sectors

2020 ◽  
Author(s):  
Davide Villani ◽  
Marta Fana
Keyword(s):  
Economic Crisis ◽  
Economic Recession ◽  
European Countries ◽  
Policy Makers ◽  
Intermediate Inputs ◽  
Current Economic Crisis ◽  
Potential Impact ◽  
European Economies ◽  
High Degree ◽  
The Impact

AbstractThe Covid-19 crisis has revamped the discussion about the redefinition of GVC. This paper contributes to the debate, analysing the productive relationships between European countries in four key manufacturing activities. In particular, the paper addresses two objectives. First, it maps the degree of productive integration in Europe, focusing on the generation of employment in the production of exported intermediate inputs and final goods. Second, it provides a preliminary assessment of the potential impact on employment that the current economic crisis will have on some manufacturing activities across Europe. The analysis is realised employing the concept of vertically integrated labour (Pasinetti 1973) which allows to account for the employment directly and indirectly involved in the production of final goods. The estimations are derived from Multi-Regional Input–Output tables to map the supply chain and to differentiate between the employment involved in the production of exported intermediate inputs and final goods. The results show that most of the employment involved in the production of final output of the activities studied in the paper is linked to international trade. Although Europe shows a high degree of productive links, there are important differences in the modality of insertion in the productive structure of European countries. Moreover, the impact on the level of employment due to the current economic crisis can be significant, affecting more than 1.3 million of people in Europe. These results are relevant to policy makers, who should consider carefully the high degree of linkages of the European economies when designing industrial policies and measure of support to the economy.

scholarly journals The impact of economic crisis on cost structure configuration

2021 ◽  
Vol 10 (1) ◽  
pp. 87-94
Author(s):  
Odysseas Pavlatos
Keyword(s):  
Empirical Study ◽  
Economic Crisis ◽  
Economic Recession ◽  
Jel Classification ◽  
Cost Structure ◽  
Fixed Costs ◽  
Manufacturing Companies ◽  
The Impact ◽  
Structure Configuration

The objective of this study is to examine the impact of economic crisis on cost structureconfiguration of companies. For this reason, an empirical study in the form of online surveyhas been carried out in 82 Greek manufacturing companies. We received data from two periodsof great economic recession, namely during fall of 2013 and spring of 2015. Results indicatedthat companies most affected by the economic crisis, replaced fixed costs with variable ones.Cost structure configuration is the “tool” that companies used to limit the consequences of thecrisis in their profitability.   Keywords: economic crisis, cost structure, fixed costs, variable costs.     JEL classification numbers:  M20, M21, M42  

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