Global Value Chain Reconfiguration and COVID-19: Investigating the Case for More Resilient Redistributed Models of Production

The COVID-19 pandemic shocked the global economy, laying bare the coordination challenges and vulnerabilities of global value chains (GVCs) across sectors. Governments, consumers, and firms alike have called for greater GVC resilience to ensure critical products are delivered to the right place, at the right time, and in the right condition. This article investigates whether GVC reconfiguration through the adoption of redistributed manufacturing (RDM) in local production can deliver greater resilience against unexpected, disruptive global events. It proposes actionable steps for managers to ensure more resilient GVCs in the face of global shocks.

Productive Capacities, Economic Growth and Economic Growth Volatility in Developing Countries: Does Structural Economic Vulnerability Matter?

Recent years’ global shocks (e.g., the 2008 financial crisis and the COVID-19 pandemic) and environmental shocks — such as natural disasters — have heightened the vulnerability of developing countries to future shocks, and can compromise their development prospects. International institutions and researchers have advocated that the strengthening of productive capacities in these countries would help enhance the resilience of their economies to shocks, and promote sustainable development. This paper has examined the effect of productive capacities on economic growth and economic growth volatility in developing countries, in particular when they face a high level of structural economic vulnerability. The analysis covers 117 developing countries over the period of 2000–2018. It shows that productive capacities not only promote economic growth, but also reduce economic growth volatility. On the other hand, structural economic vulnerability reduces economic growth (in particular when it exceeds a certain level), and induces greater volatility of economic growth. Interestingly, productive capacities promote economic growth and reduce economic growth volatility in countries that face a high degree of structural economic vulnerability. These findings support the recommendation by international institutions and researchers that if they were to enhance the resilience of their economies to shocks, and promote sustainable economic growth, developing countries (in particular the poorest ones) should strengthen their productive capacities.

The Spillover of Inflation among the G7 Countries

Many global shocks, including the renegotiation of NAFTA, the United States–China trade war, the Brexit, and the COVID-19 pandemic, may have recently influenced the inflation spillover in the G7 countries. The current literature overlooks the influence of these important events on the inflation spillover of the G7 countries. This study fulfills this gap and investigates the nature of inflation spillover in the short, medium, and long term. Using the monthly data from 1956:6 to 2020:12, the study finds that Japan and the United States are the main transmitters of inflation. International trade, purchasing power parity, low-cost technology, and the Abenomics policy were found to be responsible for the inflation spillover. We suggest that the central banks of these countries collaborate to achieve the targeted inflation rate.

Global Agri-Food Sector: Challenges and Opportunities in COVID-19 Pandemic

COVID-19 pandemic has been catastrophic for almost everything including the global economy. Among many sectors, the food and the agriculture sector was the worst hit following the immediate lockdown and market shutdowns. Though some stability was prevalent from supply side till date, however, the severe restrictions put in place to curb the spread of pandemic have endangered the supply of agricultural and food articles contemporaneously across borders and from field to fork. While the income decline due to price falland supplies chain disruptions due to pandemic have escalated the food shortages in several of developing and developed countries. Nevertheless the global demand for food items has remained more or less unchanged owing to their inelastic demand. Even within the global level, the scenario of food security and supply chain stability has been substantially deplorable for emerging and less developing countries due to their lack of insulation to the global shocks or pandemics. Notably, the technological backwardness, excessive know-how dependence and denied accessibility on several grounds lead to poverty and food hunger in these countries. At the policy level, a holistic approach specifically targeted towards the developing and less developed economies is highly warranted to ensure an appreciable progress towards the minimisation of sensitivity with regard to agriculture and food security. Apart from the measures to insulate them from global shocks, additional steps need to be taken to alleviate their technological backwardness and denied accessibility on certain socio-cultural norms.

Differential types of reflexivity in young people against the backdrop of the COVID-19 epidemic

Differential types of reflexivity (as human activities aimed at understanding their own actions) were studied in 66 persons against the background of the COVID-19 epidemic in order to effectively carry out medical, psychological and social interventions in order to maintain epidemiological well-being in society during the current epidemic. It was established that in all examined persons the indicators of scales, the methodology used do not significantly differ from the data obtained earlier by its authors. The surveyed contingent is reliably dominated by systemic reflexion (the indicators of which are comparable to those of those years when there were no such significant global shocks) with a lower (compared to the control group) level of introspection and quasi-reflexion. The bigger variability of data, received by D.A. Leontyev and E.N. Osin, in comparison with our data is caused probably by temporary aspect, various professional contingent of the examined persons, and the relevant processes flowing nowadays in society. Thus, the absence of significant differences from the data obtained earlier is probably due to the cultural and age characteristics of the examined. This indicates the possibility of adequate medical and psychological support for this category of persons against the background of the current COVID-19 pandemic.

Income Shocks and Child Mortality Rates: Evidence from Fluctuations in Oil Prices

Previous studies show that children in lower socioeconomic status families reveal higher rates of mortality. We complement the income-mortality literature by establishing a causal link between income and child mortality. Our instrument for income is based on time-series global shocks to oil prices combined with the cross-sectional share of employment in manufacturing across US states as their exposure to oil price changes. Using the universe of death records between the years 1975-2004, we find the OLS results of income-child-mortality relationships are under-biased. The 2SLS-IV results suggest that a $1,000 increase in income per capita at the state level reduces child mortality and infant mortality by 0.87 and 0.53 fewer incidences per 1,000 population of age-specific children.

Wildlife Management Areas in Tanzania: Vulnerability and Survival Amidst COVID-19

The establishment of Wildlife Management Areas (WMAs) has been adopted as intervention to safeguard the wildlife and their habitats outside the core protected areas in Tanzania. Along with their conservation role, WMAs provide an opportunity for local communities to derive economic benefits from wildlife-based enterprises on their land. WMAs primarily rely on revenues generated from photographic and hunting tourism to support operational activities and create incentives for the local communities to conserve wildlife resources. The current global travel restrictions and lockdown caused by an outbreak of COVID-19 pandemic have reduced a vital funding source for WMAs. This, therefore, undermines the ability to manage the wildlife resources and reward communities for the opportunity cost of their land and other costs associated with coexisting with wildlife. This chapter examines the extent to which the decline of tourism revenues as a result of the outbreak of COVID-19 pandemic has affected WMAs as a framework for local communities to manage and benefit from wildlife. Data were collected through semi-structured interviews on five WMAs in Northern Tanzania that were purposively selected based on their ability to generate a significant amount of revenues from tourism. Findings show that the decline of tourism revenues triggers unprecedented adverse effects on the conservation of wildlife resources within WMAs. Livelihood of the local communities is also affected due to loss of employment opportunities and drop-off of tourism income obtained from the sales of local goods to the tourists and tourist hotels. We recommend the creation of local mechanisms for revenue acquisition that are more resilient to global shocks, diversifying revenue-generating options within WMAs, and putting in place the right funding model that would warrant WMAs sustainability.

Productive Capacities, Economic Growth and Economic Growth Volatility in Developing Countries: Does Structural Economic Vulnerability Matter?

Recent years' global shocks (e.g., the 2008 financial crisis and the COVID-19 pandemic) and environmental shocks - such as natural disasters - have heightened the vulnerability of developing countries to future shocks, and can compromise their development prospects. International institutions and researchers have advocated that the strengthening of productive capacities in these countries would help them enhance the resilience of their economies to shocks, and promote sustainable development. The present paper has examined the effect of productive capacities on economic growth and economic growth volatility in developing countries, in particular when they face a high level of structural economic vulnerability. The analysis covers 117 developing countries over the period 2000-2018. It shows that productive capacities do not only promote economic growth, but also reduce economic growth volatility. On the other hand, structural economic vulnerability reduces economic growth, in particular when it exceeds a certain level, and induces greater volatility of economic growth. Interestingly, the findings suggest that productive capacities promote economic growth and reduce economic growth volatility in countries that face a high degree of structural economic vulnerability. These findings support the recommendation by international institutions and researchers that if they were to enhance the resilience of their economies to shocks, and promote sustainable economic growth, developing countries (in particular the poorest ones) should strengthen their productive capacities.