The Impact of the Spread of COVID-19 on Globalization

The text analyzes the changes in the process of globalization which have occurred in connection with the spread of COVID-19 and determines the possibilities for further development. It is based on the definition of globalization according to the OECD. Several years before the pandemic came, and globalization entered a phase of slowdown. It was called deglobalization. The main facts that caused this process were financial recession in 2008 and changes in USA and China economic relationship. The pandemic has weakened economic growth in many countries, reduced trade and travel, and introduced restrictive measures. The effects of a pandemic for individual states depend on the extent to which the states are connected in global production and trade networks. Three scenarios and their impact on globalization, trade, and the world economy are introduced.

CHALLENGES FOR THE WHEAT MARKET IN THE BLACK SEA REGION UNDER CОVID-19

Under COVID-19, the world is facing unclear circumstances as a result of the global political, economic, social and financial recession caused by the pandemic. The overpopulation of certain regions as a result of globalization leads to problems related to the nutrition of the population and food security. The Black Sea region, with its strategic location, is an essential market both for the production and for the supply of raw materials to the regions affected by poverty and also for the international grain trade and in particular for the wheat. The report presents the main trends in the wheat market within the Black Sea region and argues the problems and challenges, which the grain trade is facing after the beginning of the COVID- 19 pandemic.

The Covid-19 vs Globe : Turn Disaster Into Opportunity

In the megatrend of the novel coronavirus (COVID-19), we need to react this pandemic with positive vibe, with making another world, which brimming with lots of creativity, respectability, imagination, development and not with stagnation. We attempt to figure out how human being transforms challenges into opportunities and get returns under financial recession. In this paper, we prescience the open doors for a superior world that this destructive emergency brings to us. We review the various destruction caused by this epidemic and major emphasis review on the opportunities which lie underneath the epidemic like: visible opportunities that have been implemented during the breakout and the concealed opportunities which will go ahead and become part of our business strategy. In the end, we made conclusions and recommendations for our stocks.

Time–frequency analysis of the interaction mechanism between European carbon and crude oil markets

The joint behavior of internal and external system brings out a high complexity of the carbon and oil price interactions, such as non-linearity and multi-frequency. This paper innovatively proposed a time-frequency mechanism between carbon and oil markets from the two aspects of internal system and external factors, and introduced a novelty partial wavelet analytics to explore their dynamic multi-scale interactions. We selected the European carbon and Brent oil futures prices data from March 2009 to December 2020, with the consideration of several necessary control variables from the external surroundings. Our findings point to a stable and strong in-phase relationship between the two markets, with oil leading at medium and lower frequencies. However, the mutual leading relationships are especially sensitive during abnormal political events and periods of financial recession and global emergency, which are observed at different periods for intermediate horizons. What is more, the interactions are more diversified and feebler at short-timescale. Under the vision of carbon neutrality, these evidences provide invaluable guidance for regulators to structure a more flexible adjusting mechanism for the risk control of carbon markets, and also help investors to hedge risk aimed at different time horizons.

The 2008 Financial Recession and the Dodd-Frank Act

The 2008 Financial Recession was one of the most significant fiscal downturns in the history of the United States. Considering that the world is in the midst of a global pandemic which may lead to another adverse economic climate, I believe that looking back at the causes of the 2008 Financial Recession is recommended. This may assist administrators to avoid the missteps which sparked this down economy in the future. By reading this paper, readers will also learn about the demographics effected by the recession and the Dodd-Frank Act, which was drafted to combat future occurrences of this nature.

Output hysteresis in the US: new evidence from a time-varying Verdoorn's law

PurposeThis study aims to contribute to the current and well-documented phenomenon of hysteresis in the US economy after the Great Financial Recession. Compelling reasons lead me to believe that Verdoorn's law can be used to explain this phenomenon by relating hysteresis to a fall in the size of returns to scale of the whole economy.Design/methodology/approachVerdoorn's law is estimated using a time-varying regression model that employs Bayesian methods to examine the evolution of the Verdoorn coefficient. The investigation uses a bivariate time-varying model to estimate long-run growth rates of output and productivity while controlling for potential endogeneity problems.FindingsThe study finds substantial variation in the Verdoorn coefficient across time as well as a significant fall of it in the onset of the Great Financial Recession, which confirms the presence of hysteresis in the US economy. Additionally, it also finds a fall in the size of productivity shocks, and in the long-run growth rates of output and productivity according to previous studies.Originality/valueThe empirical investigation uses, novel to the literature on Verdoorn's law to date, a bivariate time-varying regression model with stochastic volatility. It also employs quarterly productivity data for a considerably long period, which to my knowledge, has not been used by previous works. Most importantly, this approach contemplates positive hysteresis––typically neglected––which provides a less bleak panorama.

Analysis of hysteresis in convergence after global financial crisis of 2007

Researchers of hysteresis outline the long-term change in growth paths of economies. It entails the post-crisis change in growth paths of economies through the change of macroeconomic indicators, such as employment and output. Recessionary shocks might have positive or negative impacts on economies’ growth paths which in turn affects convergence and divergence in economies. In this research, hysteresis is explored in convergence across 110 countries induced by the global financial recession of 2007. Findings suggest that as a post-crisis change, hysteresis in convergence is in place. The difference arises in adaptability of economies to changes. The reason for convergence of poor and rich countries might be more intensive foreign investments in developing nations. These investments have a positive influence on economic performance in developing countries by increasing employment rates.

Тенденції функціонування друкованих медіа в Україні

The print crisis – caused, it seems, by the digitization and transformation of digital media – is one of the problems of contemporary journalism. For this reason, over the past three years, the circulation of the printed press in Ukraine has sharply decreased (by 3 million copies, ie 27%). The most difficult situation is that of local media, which since 2016 have gradually been transformed into private ownership by the authorities. The delayed reform has led to a situation where publishing houses with no experience in business are going through a serious recession: some have already closed, some have barely survived under modern market conditions. The convergence of the media carries the risk of marginalization of smaller publishers and, consequently, of their recipients, whose voices will not be heard. This is already the case with the central press, as the most powerful print media belong to the largest companies: Star Light Media, UMH Group, Inter Media Group, 1 + 1 Media and Media Group Ukraine, whose owners are involved in Ukrainian politics. On the other hand, support for the local independent press is refused. Ukraine can follow the path of many other European countries following the „circular spiral” theory. According to her, the highest circulation newspapers receive more advertising funds and subscriptions, while smaller titles receive state aid in order to maintain pluralism of thought, prevent the disappearance of small publications and avoid excessive media concentration. This project was developed in 2016, but it was not approved by the government as it maintained the news-papers' dependence on public authorities and a corrupt model of fund distribution. The situation of uncertainty is beneficial for the authorities as it allows publishers to be influenced, especially during elections. During a financial recession, publishing houses easily succumb to politicians' suggestions and make abuses consisting in releasing materials designed to support their image. Media researchers recorded 28.1% of such publications in the regional press. The media sector is also negatively affected by the steady increase in the postal tariff for delivering the press and the reduction of Ukrposzta's stationary branches, which are also in the financial recession. Another problem is the lack of regulation on the status of electronic media, which is often involved in piracy of intellectual property, which negatively affects the print media. Young and middle-aged audiences are seldom readers of newspapers, so they need to transform their content into online material. The press is looking for additional channels, attracting readers' attention on the Internet, using websites, social networks, video hosts, various convergence models, various technologies. Central media – as opposed to smaller, regional ones – quickly adapted to the prevailing trends. More than half of the local media still doesn’t have a website. Due to the low tabloidization of printed media, it is of little use to create popular news channels such as infotainment. Only in isolated cases do publishers make an effort to shift from traditional information to communicating with readers, and editors try to use crowdsourcing and croudfunding models to generate content and raise funds to support and develop new ideas. Since 2017, the Local Media Support Agency has been teaching how to create modern content and profit on advertisements - the result is 23 agency websites with 1,307,000 users and 6,200,000 views (2018). Despite the crisis, the need for information has not diminished, so time will show the format in which the Ukrainian press will exist. It is possible that – as in Poland – it will be primarily an online newspaper.

2008 financial crisis vs 2020 economic fallout: How COVID-19 might influence fertility treatment and live births

BackgroundThe economic and reproductive medicine response to the COVID-19 pandemic in the United States has reduced the affordability and accessibility of fertility care. We sought to determine the impact of the 2008 financial recession and the COVID-19 recession on fertility treatments and cumulative live-births.MethodsWe examined annual US natality, CDC IVF cycle activity and live birth data from 1999 to 2018 encompassing 3,286,349 treatment cycles, to estimate the age-stratified reduction in IVF cycles undertaken after the 2008 financial recession, with forward quantitative modelling of IVF cycle activity and cumulative live-births for 2020 to 2023.ResultsThe financial recession of 2008 caused a four-year plateau in fertility treatments with a predicted 53,026 (95% CI 49,581 to 56,471) fewer IVF cycles and 16,872 (95% CI 16,713 to 17,031) fewer live births. A similar scale of economic recession would cause 67,386 (95% CI: 61,686 to 73,086) fewer IVF cycles between 2020 and 2023, with women younger than 35 years overall undertaking 22,504 (95% CI 14,320 to 30,690) fewer cycles, as compared to 4,445 (95% CI 3,144 to 5749) fewer cycles in women over the age of 40 years. This equates to overall 25,143 (95% CI: 22,408 to 27,877) fewer predicted live-births from IVF, of which only 490 (95% CI 381 to 601) are anticipated to occur in women over the age of 40 years.ConclusionsThe COVID-19 recession could have a profound impact on US IVF live-birth rates in young women, further aggravating pre-existing declines in total fertility rates.Trial registration numbernot applicable

EMPLOYEE VOICE MANAGEMENT AND WORKPLACE PERFORMANCE: A BANKING SECTOR PERSPECTIVE

Globally, employee voice addresses the notion that people want to be heard because being heard reinforces a sense of belongingness within an organization; while endearing a belief that a person’s action can have an impact in the overall productivity of a workplace. This study therefore becomes pertinent in accordance with calls for scholarly investigation to determine the rate of its impact on the banking sector amid the recent financial recession and turbulence of the sector. Taking a quantitative method, the descriptive survey research design was adopted for the study. The findings indicated that employee voice management had a significant positive correlation on workplace performance of the banking sector (r = 0.597; t = 23.703; F= 561.823; p < 0.05). It concluded that employee voice management improved job behaviours, industrial relations, and ultimately improved individual and team outcomes. The study further recommended that the banking sector should increase the autonomy and empowerment of its workforce, as it spurs their commitment to the workplace.