scholarly journals COVID-19 dan Kebijakan dalam Menyikapi Resesi Ekonomi: Studi Kasus Indonesia, Filipina, dan Singapura

2021 ◽  
Vol 4 (1) ◽  
Author(s):  
Shanti Darmastuti ◽  
Mansur Juned ◽  
Fauzan Anggoro Susanto ◽  
Rachmasari Nur Al-Husin
Keyword(s):  
Economic Activity ◽  
Economic Recession ◽  
Economic Recovery ◽  
Economic Conditions ◽  
Domino Effect ◽  
Literature Study ◽  
Monetary Policies ◽  
Health Crisis ◽  
Distribution Of Income

The purpose of this study is to provide an overview of the economic conditions in Indonesia, Philippines and Singapore after COVID-19. Through a literature study, this article looks at economic conditions and the forms of policies taken by Indonesia, Philippines, and Singapore in response to the threat of economic recession. These three countries were taken as the focus of the study considering that the most COVID-19 cases in the Southeast Asia are in these three countries. The result of this research shows that COVID-19 case has had a significant impact on every country. Many sectors are affected by this case. The policies made to prevent the spread of pandemic such as lockdowns and restrictions on the mobility of people have had a significant impact on the economic sector. The decline in economic activity has had an impact on reducing the distribution of income, decreasing domestic consumption and increasing unemployment. If these problems occur in the long term, chances are economic recession will come to these countries. In an economic recession, countries will usually take the form of fiscal and monetary policies to recover the economy or prevent a deeper recession. The conclusion of this research is the threat of an economic recession during the COVID-19 pandemic has become very complex because one country must face a health crisis that has a domino effect on other sectors. Therefore, economic recovery during the COVID-19 needs to pay attention toward the spread of the virus reduction so that the ongoing crisis, both in the economic and health sectors, does not become more severe. Tujuan penelitian ini adalah untuk memberikan gambaran terhadap kondisi ekonomi yang dialami oleh beberapa negara seperti Indonesia, Filipina, dan Singapura akibat dari COVID-19. Melalui metode studi literatur, artikel ini melihat kondisi ekonomi serta bentuk kebijakan yang diambil oleh Indonesia, Filipina, dan Singapura dalam menyikapi ancaman resesi ekonomi. Tiga negara ini diambil sebagi fokus studi mengingat kasus COVID-19 terbanyak di kawasan Asia Tenggara terdapat di tiga negara ini. Hasil penelitian menunjukkan bahwa kasus COVID-19 memberikan dampak yang cukup signifikan bagi setiap negara. Banyak sektor yang terdampak dari adanya kasus ini. Kebijakan untuk memotong rantai perluasan dari Pandemi ini melalui karantina wilayah maupun pembatasan mobilitas orang memberikan dampak yang cukup besar di sektor ekonomi. Penurunan aktivitas ekonomi telah memberikan dampak bagi penurunan distribusi pendapatan, penurunan konsumsi domestik sampai dengan peningkatan pengangguran. Masalah-masalah ini apabila terjadi dalam jangka panjang dikhawatirkan akan menimbulkan ancaman resesi ekonomi bagi satu negara. Pada resesi ekonomi, negara biasanya akan mengambil bentuk kebijakan fiskal maupun moneter untuk melakukan pemulihan ekonomi ataupun mencegah terjadinya resesi yang lebih dalam. Simpulan dari penelitian ini adalah bahwa ancaman resesi ekonomi pada masa COVID-19 menjadi sangat kompleks dikarenakan satu negara dihadapkan pada masalah krisis kesehatan yang memberikan efek domino bagi sektor lainnya.Oleh karena itu, pemulihan ekonomi pada masa COVID-19 perlu memperhatikan upaya pengurangan perluasan virus sehingga krisis berkelanjutan baik dalam bidang ekonomi maupun kesehatan tidak terjadi lebih luas.   Kata Kunci :COVID-19, Resesi, Ekonomi, Kebijakan, Indonesia, Filipina, Singapura  

scholarly journals Dynamics of the impact of COVID-19 on the economic activity of Peru

PLoS ONE ◽  
2021 ◽  
Vol 16 (1) ◽  
pp. e0244920
Author(s):  
Luis Varona ◽  
Jorge R. Gonzales
Keyword(s):  
Economic Activity ◽  
Structural Characteristics ◽  
Human Life ◽  
Aggregate Demand ◽  
Economic Recession ◽  
Basic Number ◽  
Monetary Policies ◽  
The Impact ◽  
Cointegration Relationship

Background The COVID-19 virus impacts human health and the world economy, causing in Peru, more than 800 thousand infected and a strong recession expressed in a drop of -12% in its economic growth rate for 2020. In this context, the objective of the study is to analyze the dynamics of the short-term behavior of economic activity, as well as to explain the causal relationships in a Pandemic context based on the basic number of spread (Re) of COVID-19 per day. Methods An Autoregressive Distributed Lags (ARDL) model was used. Results A negative and statistically significant impact of the COVID-19 shock was found on the level of economic activity and a long-term Cointegration relationship with an error correction model (CEM), with the expected sign and statistically significant at 1%. Conclusion The Pandemic has behaved as a systemic shock of supply and aggregate demand at the macroeconomic level, which together have an impact on the recession or level of economic activity. The authors propose changing public health policy from an indiscriminate suppression strategy to a targeted, effective and intelligent mitigation strategy that minimizes the risk of human life costs and socioeconomic costs, in a context of uncertainty about the end of the Pandemic and complemented by economic, fiscal and monetary policies that mitigate the economic recession, considering the underlying structural characteristics of the Peruvian economy.

scholarly journals Macroeconomic assessment of possible Green Recovery scenarios in Visegrad countries

2021 ◽  
Author(s):  
Bence Kiss-Dobronyi ◽  
Dora Fazekas ◽  
Hector Pollitt
Keyword(s):  
Economic Theory ◽  
Economic Activity ◽  
Three Dimensions ◽  
Economic Recovery ◽  
Keynesian Economic ◽  
Post Keynesian Economic ◽  
The Impact ◽  
Environmental Level ◽  
Visegrád Countries

AbstractThe article discusses how and why Green Recovery could be beneficial for the Visegrad countries based on a modelling exercise using the E3ME macroeconometric model. Green Recovery is defined as including policies in recovery plans that not only target economic recovery, but also contribute to environmental targets. The paper proposes that a Green Recovery could be valuable and suitable for the region contributing to both restoring employment and boosting economic activity as well as reaching climate goals. This is tested through a macroeconomic simulation, using the E3ME model. E3ME is built on Post-Keynesian economic theory and on econometric estimations of macroeconomic relationships. The results of the analysis focus on three dimensions: (1) social – employment, (2) environmental – level of CO2 emissions and (3) economic activity – gross domestic product (GDP). Outcomes indicate that a green recovery can shorten the time needed for employment and economic recovery as well as contributes to CO2 emission reductions. In Hungary, Czechia and Poland, the impact persists into the long-term; however, the paper also concludes that countries with high reliance on coal (e.g. Poland) could return to coal in the long term if no further policies are introduced.

Russia's budget reflects caution on future spending

2016 ◽  
Keyword(s):  
Budget Deficit ◽  
Public Spending ◽  
Oil Price ◽  
Economic Recovery ◽  
Education Spending ◽  
Monetary Policies ◽  
Content Type ◽  
Low Levels ◽  
Spending Cuts

Significance A three-year budget cycle is intended to create predictability after a year in which the initial budget had to be revised as the oil price outlook grew gloomier. Spending cuts are envisaged to continue beyond 2017 as revenue predictions are modest amid low rates of economic growth, and the objective is to cut the budget deficit progressively. Impacts The diversion of reserve money to sustain public spending will undermine economic modernisation programmes. Low levels of health and education spending will harm human capital in the medium-to-long term. The Central Bank is unlikely to relax monetary policies significantly prior to 2018, and then only if inflation recedes to the targeted 4%. Tight monetary policy will restrict credit growth and thus economic recovery.

scholarly journals Macroeconomic Policy Responses to COVID-19: A Case of Indonesia

SENTRALISASI ◽  
2021 ◽  
Vol 10 (2) ◽  
pp. 118
Author(s):  
Acwin Hendra Saputra ◽  
I Gede Agus Ariutama
Keyword(s):  
Economic Crisis ◽  
Economic Recovery ◽  
Legal Certainty ◽  
Domino Effect ◽  
Health Crisis ◽  
Policy Responses ◽  
National Economic ◽  
The Government ◽  
Recovery Program ◽  
The Impact

The health crisis triggered by the COVID-19 virus has spread to a multidimensional crisis and has a domino effect on the socio-economic and financial sectors. The economic crisis as the impact of the COVID-19 pandemic has become increasingly severe because it was accompanied by lockdown and physical distancing policies which resulted in decreasing productivity in the economy. The purpose of this research is to describe the structured efforts taken by the Government of Indonesia in dealing with the impact of the COVID-19 pandemic. The policy combination adopted by the Government of Indonesia is in the form of policies to issue a series of regulations providing legal certainty and flexibility while still highlighting the accountability. Refocusing and budget reallocation are also taken by the government to provide more flexible space for Ministries/Institutions to contribute to managing the impact of COVID-19. Another policy is the issuance of three stimulus packages and the launch of the National Economic Recovery Program (PEN).

System of measures to reduce risks and reduce the risks of disasters in order to increase economic security

2020 ◽  
Vol 10 (2) ◽  
pp. 210-218
Author(s):  
Vladimir А. Puchkov ◽  
Keyword(s):  
Development Strategy ◽  
Economic Recession ◽  
Economic Security ◽  
Life Safety ◽  
Economic Conditions ◽  
Successful Implementation ◽  
Government Programs ◽  
Natural Fire ◽  
Economic Development Strategy

The relevance of the study of a system of measures to reduce risks and reduce the risks of disasters is due to the diversity and increasing influence of threats and challenges of various nature in modern socio-economic conditions. At present, constant analysis and timely forecasts are required for timely adjustments and, in some cases, the development of new areas for risk assessment in order to implement national projects and government programs in the context of the beginning of the global economic recession. Successful implementation of the country’s socio-economic development strategy for the long term is impossible without a well-functioning life safety system that can withstand modern challenges of man-made, natural, fire, biological, social and other nature. Based on the results of this study, we propose a system of measures to reduce the risks and reduce the dangers of emergencies, fires, man-made accidents and other disasters, as well as to improve the economic mechanisms of a large company, economic entities and territories in General in the field of improving the safety of life. The concept of life safety is clarified and its comprehensive formulation is given. The causes of various hazards and threats are considered. Based on the theory of multidimensional observations, the state of the threat field is described, including a systematic multi-factor analysis of the sources of danger. A system of economic measures aimed at reducing the number and minimizing the consequences of disasters is proposed, which allows optimizing the distribution of financial, material, technical and other resources in the field of ensuring the safety of life.

Germany’s economic recovery may remain anaemic

2017 ◽  
Keyword(s):  
Financial Crisis ◽  
Euro Area ◽  
Economic Activity ◽  
Domestic Demand ◽  
Growth Potential ◽  
Economic Recovery ◽  
Content Type ◽  
Positive Effect

Significance Germany, like its euro-area partners, has struggled to achieve anything resembling a strong recovery from the 2008-09 financial crisis. Forecasts for 2017 have been revised downwards and there are few signs -- at either the macroeconomic or macropolitical level -- that European stagnation will dissipate. Impacts The weak euro will benefit Germany’s exporting industries. Frankfurt could attract some banks looking to leave London after Brexit. Migration has increased Germany’s domestic demand potential and could have a net positive effect on economic activity in the long term. Europe’s lack of dynamism may weaken the growth potential of other regions.

Confronting Africa's Economic Downturn Through Broadband Investment

2017 ◽  
pp. 237-256
Author(s):  
Suraj Olunifesi Adekunle
Keyword(s):  
Economic Growth ◽  
Return On Investment ◽  
Economic Recession ◽  
Investment Policy ◽  
Economic Recovery ◽  
Policy Framework ◽  
Economic Downturn ◽  
African Countries ◽  
Oil Reserves

This paper examines the prospect of broadband infrastructural investment by African countries in the light of the current economic recession. It observed that oil reserves unlike before can no longer sustain economies as it is evident in some oil producing African countries presently undergoing economic recession. The paper further observed that Broadband Infrastructural investment has been employed as a counter-cyclical tool to create jobs and provide the foundation for economic recovery and long-term sustained growth by most countries that once experience recession. Hence, having observed that, there are compelling statistics which show that there is a correlation between broadband and economic growth, the study is of the opinion that broadband infrastructural deployment in developing countries especially in Africa can help guaranty speedy recovery from economic recession and help ensure sustainable development. However, to ensure maximum return on investment, there is need for a robust Broadband Investment Policy Framework.

scholarly journals Eight New Challenges Faced by Global Economy

2021 ◽  
Author(s):  
Zhang Yuyan
Keyword(s):  
Global Economy ◽  
Commodity Prices ◽  
Economic Recession ◽  
Regional Governance ◽  
Inflation Expectations ◽  
Negative Effects ◽  
Monetary Policies ◽  
The World ◽  
Second World

Due to COVID-19, the world has experienced the most severe economic recession since the Second World War. Some "unconventional" monetary policies have been enforced in order to stimulate the economy, and their effectiveness is positively regarded by the IMF. However, this paper identifies two negative effects of these measures. Firstly, they exacerbate policy instability; secondly, they will be detrimental to the fundamentals of monetary policies in the long term. In addition, the world economy is also confronted with many challenges, including global inflation expectations, the trends of dollar as a currency, restructuring of global supply chain, volatility of asset prices and commodity prices, and global and regional governance.

Research on the Economic Organization Environmental Impact

2017 ◽  
Vol 68 (3) ◽  
pp. 599-601
Author(s):  
Dan Paul Stefanescu ◽  
Oana Roxana Chivu ◽  
Claudiu Babis ◽  
Augustin Semenescu ◽  
Alina Gligor
Keyword(s):  
Economic Activity ◽  
Economic Organization ◽  
Economic Activities ◽  
Environmental Implications ◽  
Minimal Impact ◽  
Wide Range ◽  
Material Environment ◽  
Negative Effect ◽  
Harmful Effects

Any economic activity carried out by an organization, can generate a wide range of environmental implications. Particularly important, must be considered the activities that have a significant negative effect on the environment, meaning those which pollute. Being known the harmful effects of pollution on the human health, the paper presents two models of utmost importance, one of the material environment-economy interactions balance and the other of the material flows between environmental factors and socio-economic activities. The study of these models enable specific conditions that must be satisfied for the economic processes friendly coexist to the environment for long term, meaning to have a minimal impact in that the residues resulting from the economic activity of the organization to be as less harmful to the environment.

Mutual fund management in the period of financial crisis

2017 ◽  
Vol 31 (2) ◽  
pp. 75-81
Author(s):  
О. А. Bank
Keyword(s):  
Financial Crisis ◽  
Mutual Fund ◽  
Economic Recession ◽  
Investment Strategy ◽  
Economic Conditions ◽  
Investment Strategies ◽  
Fixed Income ◽  
Fund Management ◽  
Fund Managers ◽  
Different Types

Mutual fund managers do not have full freedom in choosing investment strategies - they are limited both by the laws and by investment declarations of the funds. Investment strategy cannot be fully changed even in financial crisis but it only can be corrected. This fact could not be characterized as a disadvantage because different types of funds are efficient in different time even during the same economic recession. Mutual fund manager should rationally invest funds of their clients: it is better to keep the maximum possible part of the portfolio in cash and instruments with fixed income on the declining market and it is better to keep shares on the rising market. However the choice of bonds also as the choice of shares should pay respect for the features of these instruments during unfavorable economic conditions. Russian mutual fund management differs from fund management in other countries as in stable economic situation so in the circumstances of financial crisis.

Sign in / Sign up

Export Citation Format

Share Document