scholarly journals COVID-19 in Pakistan: How to Spark the Economic Recovery-Analysis from Previous Natural Disasters

2021 ◽  
Vol 3 (3) ◽  
pp. 209-220
Author(s):  
Usama Anwar ◽  
Abdul Rehman Nawaz ◽  
Hafiz Ghulam Mujaddad
Keyword(s):  
Natural Disasters ◽  
Economic Recession ◽  
Policy Recommendations ◽  
Business Growth ◽  
Economic Activities ◽  
Current Crisis ◽  
Health Crisis ◽  
Supply Shocks ◽  
Economic Downturns

COVID-19 is reshaping the future of the globe by having an unprecedented impact on people's social, political, and economic lives. This pandemic is being characterized by health crisis as well as economic crisis. Pertaining to the negative demand & supply shocks and the decrease in revenues, profits, and investment due to COVID-19, many business and economic institutions are paying heed to subdue the post-pandemic economic recession. The COVID-19 pandemic crisis also hit the economy of Pakistan rigorously. Due to persistent lockdown and de-escalated economic activities, the country faced a sharp decline in tax revenues, investment, and business growth. Pakistan has faced several economic downturns due to natural disasters: particularly the flood in 2010 and the earthquake in 2005, as they caused the loss of numerous lives, infrastructure, businesses, and irrigation land. The present study reviews the response and effectiveness of government and different institutions in previous natural disasters. This analysis provides policy recommendations to deal with the current crisis. The study concludes that Pakistan failed to get the full output of its recovery plans due to lack of preparedness & coordination, lack of understanding, insufficient knowledge & planning, the ineffective role of central management, and other institutional or management issues. It further recommends that Pakistan should act more effectively against natural disasters and restore its previous economic pace by eliminating the gaps in its economic and disaster management policies.

scholarly journals Unemployment in Socially Disadvantaged Communities in Tennessee, US, During the COVID-19

2021 ◽  
Vol 3 ◽  
Author(s):  
Anzhelika Antipova ◽  
Ehsan Momeni
Keyword(s):  
Rural Communities ◽  
Economic Recession ◽  
Well Being ◽  
Social Disadvantage ◽  
Economic Activities ◽  
Market Outcomes ◽  
Health Crisis ◽  
Vulnerable Communities ◽  
Southeastern Us ◽  
The Impact

Urban studies related to previous pandemics and impacts on cities focused on vulnerable categories including poor and marginalized groups. We continue this tradition and analyze unemployment outcomes in a context of a multi-dimensional social disadvantage that is unfolding during the ongoing public health crisis. For this, we first propose an approach to identify communities by social disadvantage status captured by several key metrics. Second, we apply this methodology in the study of the effect of social disadvantage on unemployment during the COVID-19 and measure the COVID-19-related economic impact using the most recent data on unemployment. The study focuses upon vulnerable communities in in the southeastern US (Tennessee) with a concentration of high social vulnerability and rural communities. While all communities initially experienced the impact that was both sudden and severe, communities that had lower social disadvantage pre-COVID were much more likely to start resuming economic activities earlier than communities that were already vulnerable pre-COVID due to high social disadvantage with further implications upon community well-being. The impact of social disadvantage grew stronger post-COVID compared with the pre-pandemic period. In addition, we investigate worker characteristics associated with adverse labor market outcomes during the later stage of the current economic recession. We show that some socio-demographic groups have a systematically higher likelihood of being unemployed. Compared with the earlier stages, racial membership, poverty and loss of employment go hand in hand, while ethnic membership (Hispanics) and younger male workers are not associated with higher unemployment. Overall, the study contributes to a growing contemporaneous research on the consequences of the COVID-19 recession. Motivated by the lack of the research on the spatial aspect of the COVID-19-caused economic recession and its economic impacts upon the vulnerable communities during the later stages, we further contribute to the research gap.

scholarly journals Cultural and creative sectors at a crossroad: from a mainstream process towards an active engagement

2021 ◽  
Vol 5 (1) ◽  
Author(s):  
Christian Ost ◽  
Ruba Saleh
Keyword(s):  
Cultural Heritage ◽  
Economic History ◽  
Business Models ◽  
Transition Period ◽  
Economic Recession ◽  
Wave Theory ◽  
Current Crisis ◽  
Health Crisis ◽  
Wide Range ◽  
Unesco Convention

AbstractThe COVID-19 pandemic has led to a current global health crisis with dreadful repercussions all over the world. A global economic recession is anticipated, with strong impacts in all economic and social sectors, including the cultural sector. Although all sub sectors will be impacted (heritage sites, theatres, museums, operas, art galleries), the cultural built heritage is particularly at stake, as it relies on multiple stakeholders through a wide range of heritage-related activities (tourism, recreation, housing, real estate, construction, craftsmanship, etc.). Sites management and heritage conservation have not only been vulnerable to strong economic and social disruptions, like most of other cultural fields, but have been greatly challenged because heritage values and the paradigm of conservation (50 years after adoption of the UNESCO convention) are being themselves revisited in the perspective of the Sustainable Development Goals. The paper aims also to consider cultural heritage as part of the Cultural and Creative Sectors (CCS) and how creativity and innovation contribute to post-COVID recoveries through Schumpeter-related creative destruction process. The current crisis might be perceived in a perspective of long wave theory of innovations and economic growth. The economic history is filled with many examples of such transition period when inventions, innovations, and growth reactivate the economic development in an upward long-term trend. In such framework, crisis can trigger innovation and creativity and can be understood as opportunity to increase the CCS resilience and sustainability, as well as harness the universality and the power of creativity. Finally, the paper aims to describe implications of such situation by providing to the CCS ways to learn and experience cultural entrepreneurship, resilient strategies, new sustainable and circular business models applied to the cultural heritage sector and its conservation.

scholarly journals THE ROLE OF BUSINESS EDUCATION IN REPOSITIONING THE AILING GLOBAL ECONOMY CAUSED BY COVID-19 PANDEMIC

2021 ◽  
pp. 46-57
Author(s):  
Patrick Oche ◽  
Obeten Ukabi ◽  
Akputu Odey
Keyword(s):  
Business Education ◽  
Economic History ◽  
Global Economy ◽  
Economic Recession ◽  
Research Literature ◽  
Economic Effects ◽  
Economic Activities ◽  
The World ◽  
History Of

The sudden outbreak of covid-19 pandemic was indeed a phenomenal disaster that crippled the productive sectors and economic activities of nations. The incremental and consequential economic effects placed the global economy on a depressed position, as the world is presently witnessing the greatest economic recession and depression as never experienced in the economic history of the world. The overall aftermath was high business mortality rate, increasing rate of unemployment, reduction in, and irregular payment of workers salaries, high retrenchment of workers, increase in poverty lines leading to organized crimes, and sundry. However, the main thrust of this academic discourse was to examine the role of Business Education (BE) in repositioning the ailing global economy caused by covid-19, via review of related research literature. BE as an academic programme is strategically positioned to inculcate the economic orientation, survival and functional skills necessary in raising the relevant manpower that will in turn serve as key drivers in the repositioning of global economy. In lieu of the above, this study explicates on conceptual clarifications, BE as economic survival strategy, and in global economic repositioning in covid-19 era, issues in BE were also illuminated upon and a few recommendations made.

scholarly journals Role of community economic development based on mosque management in COVID-19 pandemic in Indonesia

2021 ◽  
Vol 8 (1) ◽  
pp. 1-12
Author(s):  
Muhammad Habibi Siregar
Keyword(s):  
Economic Development ◽  
Financial Institutions ◽  
Economic Recession ◽  
Social Institution ◽  
Community Economic Development ◽  
Ordinary People ◽  
Economic Activities ◽  
The World ◽  
Almost All

COVID-19 shocks are over the whole world, which disrupted almost all sectors of the economy. Many major financial institutions show a downfall and going into economic recession. All around the world, ordinary people are affected the most in this dire situation due to raised unemployment. Mosques can be considered a vital social institution in Indonesia and tend to cultivate prosperity and elevate economic activities. This research exposed the hidden potential of Mosques in Indonesia in economic development by describing the essential asset stored in them. It’s instrumental for the community to empower the asset because the management of mosques will give multi-effective players in terms of community engagement.

scholarly journals The role of trade narratives in poverty reduction after the COVID-19 crisis

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Scott Allen Hipsher
Keyword(s):  
Poverty Reduction ◽  
International Travel ◽  
Lessons Learned ◽  
Global Poverty ◽  
Economic Activities ◽  
Current Crisis ◽  
Content Type ◽  
Business Operations ◽  
Original Analysis

Purpose This paper aims to explore different possible economic narratives concerning trade, which may emerge based on lessons learned from the COVID-19 crisis and likely effects of these differing narratives would have on global poverty reduction. Design/methodology/approach This is a conceptual paper based on original analysis of selected literature. Findings The global response to the COVID-19 crisis of severely restricting international travel and business operations has been accompanied by slowing economic growth and increased levels of global poverty. Due to the nature of the crisis, it is not currently clear, even with hindsight, whether the measures taken have produced more benefits than problems. However, the pace and direction of the economic recovery and the effect on future levels of global poverty will likely depend to some extent on which narratives go viral and become accepted. Social implications Members of academia as well as others have a role to play in creating and spreading narratives about economic activities and focusing on narratives, which do not ignore the plight of the global poor in the aftermath of the current crisis might have a positive effect on the living standards of the hundreds of millions of people living in poverty who have been affected by the current global economic slowdown. Originality/value The paper uniquely links ideas associated with behavioral economics, international business theories and empirical evidence with reducing poverty as we move past the COVID-19 crisis.

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.

AN EMPIRICAL STUDY OF INDIAN INSURANCE INDUSTRY POST GLOBAL FINANCIAL CRISIS

2015 ◽  
Vol 6 (01-02) ◽  
Author(s):  
Anis Ur Rehman ◽  
Yasir Arafat Elahi ◽  
Sushma .
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Insurance Industry ◽  
Primary Data ◽  
Policy Recommendations ◽  
Insurance Sector ◽  
The World ◽  
The Impact ◽  
The New Deal

India has recently emerged as a major political and economic power in the world. The financial crisis that engulfed the world in 2008 needed developing countries like India to lead the rescue and recovery, instead of G7 westerns countries who dealt with such crisis in the past. Recently, discussions and negotiations are going amongst G20 countries regarding a new global financial architecture (G-20 Summit, 2008). The outcome will affect the relevant industries in India and hence it is a public interest issue for the actuarial profession in the country. Increased and more intrusive and costly regulations and red tapes are likely to be a part of the new deal (Economic Survey 2009-10). The objective of this paper is to study the perception of higher level authorities in Insurance sector regarding the role of regulator in minimizing the impact of global financial crisis. The primary data has been collected from 200 authorities in insurance industry. The data has been analyzed with statistical tools like MS-Excel. On the basis of the findings, various measures and policy recommendations for insurers have been suggested to minimize the impact of crisis.

Beyond the Social Determinants of Health

2020 ◽  
Vol 3 ◽  
pp. 1-11
Author(s):  
Laura Hall ◽  
Urpi Pine ◽  
Tanya Shute
Keyword(s):  
Labour Force ◽  
Methodological Approach ◽  
Active Role ◽  
Indigenous Women ◽  
Economic Activities ◽  
The Earth ◽  
The Social ◽  
Weather Changes ◽  
People First

Abstract This paper will reflect on key findings from a Summer 2017 initiative entitled The Role of Culture and Land-Based Healing in Addressing and Ending Violence against Indigenous Women and Two-Spirited People. The Indigenist and decolonizing methodological approach of this work ensured that all research was grounded in experiential and reciprocal ways of learning. Two major findings guide the next phase of this research, complicating the premise that traditional economic activities are healing for Indigenous women and Two-Spirit people. First, the complexities of the mainstream labour force were raised numerous times. Traditional economies are pressured in ongoing ways through exploitative labour practices. Secondly, participants emphasized the importance of attending to the responsibility of nurturing, enriching, and sustaining the wellbeing of soil, water, and original seeds in the process of creating renewal gardens as a healing endeavour. In other words, we have an active role to play in healing the environment and not merely using the environment to heal ourselves. Gardening as research and embodied knowledge was stressed by extreme weather changes including hail in June, 2018, which meant that participants spent as much time talking about the healing of the earth and her systems as the healing of Indigenous women in a context of ongoing colonialism.

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