Economic Climate Research Articles

High serum C-X-C motif chemokine ligand 10 (CXCL10) levels may be associated with new onset interstitial lung disease in patients with systemic sclerosis: evidence from observational, clinical, transcriptomic and in vitro studies

Systemic sclerosis-interstitial lung disease (SSc-ILD) is the leading cause of death in patients with SSc. There is an unmet need for predictive biomarkers to identify patients with SSc at risk of ILD. Previous studies have shown that interferon (IFN) pathways may play a role in SSc. We assessed the use of C-X-C motif chemokine ligand 10 (CXCL10) as a predictive biomarker for new onset of ILD in patients with SSc. One-hundred-sixty-five (Female, N=130) patients with SSc (SSc-ILD, N=41) and 13 (Female, N=8) healthy controls were investigated retrospectively. CXCL10 protein levels were measured by ELISA. We performed log rank analysis with baseline CXCL10 serum levels. CXCL10 nanoString data from lung tissues obtained from transplanted patients with SSc-ILD were extracted. Fifteen (Female, N=10) patients with SSc (SSc-ILD, N=7) were recruited for bronchoalveolar lavage (BAL) procedure. Lung fibroblasts were treated with BAL-fluid or serum from patients with SSc with or without ILD. Inflammatory/fibrotic genes were assessed. Serum CXCL10 levels were higher in patients with SSc-ILD compared to SSc patients without ILD [Median (IQR):126pg/ml (66-282.5) vs. 78.5pg/ml (50-122), P=0.029, 95% CI: 1.5×10-6 to 0.4284]. Survival analysis showed that baseline CXCL10 levels >78.5pg/ml have a 2.74-fold increased risk of developing new onset of ILD (Log-rank: P=0.119) on follow-up. CXCL10 levels in BAL supernatant were not different in patients with SSc-ILD compared to SSc without ILD [76.1pg/ml (7.2-120.8) vs. 22.3pg/ml (12.1-43.7), P=0.24, 95% CI:-19.5 to 100]. NanoString showed that CXCL10 mRNA expression was higher in inflammatory compared to fibrotic lung tissues [4.7 (4.2-5.6) vs. 4.3 (3.6-4.7), P=0.029]. Fibroblasts treated with SSc-ILD serum or BAL fluids overexpressed CXCL10. Clinical, transcriptomic, and invitro data showed that CXCL10 is potentially involved in early SSc-ILD. More research is needed to confirm whether CXCL10 can be classified as a prospective biomarker to detect patients with SSc at higher risk of developing new onset ILD. This collaborative project is co-financed by the Ministry of Economic Affairs and Climate Policy of the Netherlands utilizing the PPP-allowance made available by the Top Sector Life Sciences & Health to stimulate public-private partnerships (PPP-2019_007). Part of this study is financially supported by Sanofi Genzyme (NL8921).

Participatory study of policy process for wildlife conservation and ecotourism in Eswatini: A multiple streams analysis

By the 1950 s, overhunting in the African Kingdom of Eswatini drove most of its wildlife to extinction. In 2022, Eswatini has one of the most robust conservation success stories in all of Southern Africa and yet has received minimal scholarly attention. Using the Multiple Streams Framework, to understand a complex system, we analyze 40 interviews and 34 policy documents to study variation in problems, policy, and politics across four different types of conservation areas: Community Based Wildlife Protected Areas, a Royal National Park, a Parastatal National Park, and a Privately Managed Protected Area. Our research is participatory, meaning Eswatini conservation professionals played a role in shaping research design and questions and collecting data. We found that policy solutions common to all institutions include 1) the absolute decision-making power of the king, 2) the stringent wildlife protection law in the 1953 Game Act, and 3) a surprisingly conducive space for communities to enact community-based conservation amidst an authoritarian monarchy. The most important problems include economic challenges (e.g. poverty) and climate change. Politics play a role, with unprecedented, violent pro-democracy protests in the summer of 2021 with activists calling for increased human rights considerations, a problem that spills into the wildlife conservation sector. Findings can be used by policy-makers seeking to replicate conservation successes elsewhere, or to enact reforms in the Eswatini system to enable its proven system of wildlife conservation to adapt and endure.

Promiscuous Technologies: Shifting Notions of Gender and Sexuality in Nigeria’s Digital Public Sphere

This paper critically examines the emergence of sexual technologies in Nigeria's digital public sphere. In particular, it explores how the use of sexual technologies like vibrators and dildos in public spaces is viewed as transgressive, and how cultural, social, and religious factors shape Nigerians' perceptions. The paper adopts the concept of transgressive publics to describe how social media enables minoritized groups to challenge dominant norms around sexuality. Two recent cases are analyzed – one involving a Nollywood actress publicly distributing dildos at an event, and another with a blogger recording Nigerian women using vibrators. To examine public discourse around these events, social media comments on Facebook, Twitter and Instagram were collected and analyzed thematically. Key findings show sexual technologies are condemned as immoral, demonic, disrespectful to cultural values, and a threat to masculinity. Criticism relies heavily on moral and religious beliefs that cast non-normative sexual expressions as sinful. Reactions also expose gender anxieties related to female autonomy and shifting power relations. However, some pragmatic comments defend women's actions given Nigeria's difficult economic climate. While stigmatized, the public emergence of sexual technologies constitutes a transgressive public for asserting women's sexual agency and pushing boundaries. The study demonstrates how cultural narratives regulating sexuality are negotiated through technology, highlighting tensions between tradition and modernity.

Dynamic simulation and projection of land use change using system dynamics model in the Chinese Tianshan mountainous region, central Asia

A critical step in alleviating the contradiction between human activities and land systems is to project and analyze land use change traits in various scenarios to furnish a basis for formulating economic development and ecological conservation strategies. However, few studies have examined land use change using the system dynamics (SD) model and patch-generating land use simulation (PLUS) model in the Chinese Tianshan mountainous region (CTMR) affected by different economic growth patterns and climate change contexts. Therefore, based on the Shared Socioeconomic Pathways and Representative Concentration Pathways (SSPs-RCPs) scenarios, we attempted to construct a regional SD model (RSDM) including population, economic, land, and climate subsystems. Then, the coupled model by combining RSDM and PLUS was employed to simulate and project land use/cover changes (LUCC) in the CTMR at the regional level to explore the spatial distribution of land and its pattern of change in different climate contexts. The SD model is an effective method that can simulate the nonlinear behavior of a complex system and predict its evolution through the interactions and feedback relationships between different influencing factors. The PLUS model is an effective tool that can be used to simulate the evolution of land patches and capture the extent to which the driving factors contribute to LUCC. The relative errors were less than 5%, and the total accuracy of PLUS model was 91.77%. The above results demonstrated the effectiveness of RSDM and PLUS model in modeling LUCC across the CTMR. From 2005 to 2020, there was an expansion trend in the area of forest and construction land as well as in the area of cultivated land, while the grassland area displayed a significant decline. By 2040, the area of unused land, grassland, and water is expected to demonstrate a decreasing trend while other land types increase, with construction land showing the most significant increase of 101.37% under the SSP585 scenario. It is anticipated to expand mainly to cultivated land and grassland around cities. The cultivated land is expected to primarily encroach on the regions of unused land and grassland under the three scenarios, reaching the expansion demand. As opposed to the scenarios of SSP126 and SSP245, the SSP585 scenario distribution of the cultivated land patches will be more compact and denser. The SSP126 and SSP245 scenarios will exhibit similar patterns of future spatial distribution of land. The SSP585 scenario is anticipated to display marked differences. According to the three scenarios, grassland degradation will be severe and require increased grassland protection. The findings can offer novel perspective concepts with regard to future ecological and environmental management, judicious distribution of land resources, and sustainable progression in the CTMR.

The Effects of COVID-19 on Regulatory and Banking Risk Management Frameworks

As the impact of COVID-19 on people's daily lives is decreasing, its contribution to risk tol-erance in financial markets, especially banking risk management, will remain and continue to live for a long period of time. Due to the difficult economic climate, banks in particular have higher default rates, which puts the stability of the banking system at risk. The primary fo-cus of this study is on the risk management of banking systems following the outbreak of COVID-19 and identifying Basel III's implications on the function of banking crisis preven-tion. Examining both the interior and exterior banking risk supervision in European and the U.S., it can be seen why the bank insolvency incidents have not affected the global financial systems as the 2008-2009 financial crisis did. This paper demonstrates the different risks of commercial banks and summarizes the problems in risk management of commercial banks through the bankruptcy cases of Silicon Valley Bank and Credit Suisse Bank.

US Recession Analysis Based on Ordinary Least Squares Regression

The United States is the first developed economy that rebounded from the 2008 global financial. Theoretically, US economic cycle is influenced by several factors, this paper mainly focuses on the linkage of the US economic growth and The correlation between the unemployment rate and the U.S. federal funds rate. Between times with rising economic activity, known as expansions. Whereas, the periods of diminishing economic activity is known as recessions. The economic climate constantly shifts throughout time. Firstly, the rate of employment and the rate of federal funding are cointegrated. The findings of a regression analysis demonstrate that there is a negative concurrent correlation between the federal funds rate and unemployment rate. Secondly, in order to verify the linkage, through an in-depth review of the data, several interlinked and external factors behind the pattern of such correlation related to the variation on economic growth also need to be elaborated.

Effects of Exchange Rate on Performance of Equity Funds in Kenya

In recent years, Kenya has witnessed significant growth in both the quantity and scale of diversified equity mutual funds. Despite this expansion, their performance has not surpassed that of their benchmark, specifically the market return on a risk-adjusted basis. This assessment is based on various performance measures, including the Sharpe ratio. Poor performance of mutual funds in Kenya discourages individual and corporate investors, in addition to hindering the realization of Vision 2030. Investors believe that information on past performance can be used to predict future performance. The extent to which macro-economic variables affect the performance of mutual funds is unclear. Some scholars show a positive correlation, while others show a negative correlation between the variables. Other factors that had an impact on the overall economic climate, such as the COVID-19 pandemic, the war in Ukraine, and the uncertainty in Kenya's political environment as a result of its general elections, made the situation even more unpredictable. The purpose of this study was to examine the impact of the exchange rate on the performance of equity mutual funds in Kenya. The study adopted a descriptive and correlational research design. The target population was 23 equity funds licensed by the Capital Market Authority, of which eleven were sampled through a census. The study relied on secondary data from the Central Bank of Kenya, the Capital Markets Authority, and the Kenya National Bureau of Statistics between 2018 and 2022. Panel data analysis was used. Descriptive statistics, encompassing measures such as mean and standard deviation, were employed in the analysis. Additionally, inferential statistics, specifically panel regression, were conducted. A static linear panel model was constructed to elucidate the relationship between independent variables and the dependent variable, which in this context is financial performance. The data was organized and presented in tables. Notably, the results indicated a noteworthy negative relationship between the exchange rate and the financial performance of equity funds. The findings of this research are of great importance to policymakers, managers of equity funds, and the scholarly community at large. It will be of significance to researchers and future scholars who might need to refer to it and build on it for further research. The study recommended that equity fund managers should invest in both domestic and foreign portfolios to diversify the risk associated with exchange rates.

Typ.ologies: Reframing Ireland’s vernacular letterform through the lens of heritage

Since the late 1800s, vernacular letterforms have been vital components of the traditional shopfronts of Ireland, enlivening, place-making, and inspiring dialogue with streetscapes. The National Inventory of Architectural Heritage identifies, records, and evaluates Ireland’s post-1700 architectural heritage. While the state initiative appraises architecturally significant shopfronts, it typically overlooks the critical signage element. This research aims to bridge this gap by documenting, mapping, and interpreting the existing vernacular letterforms in Kilkenny as a paradigm. Through the lens of heritage, the study seeks to construct a case for preserving, promoting, and advocating for vernacular letterforms and the traditional craft of signwriting. Signwriting straddles art, craft, and design dissolving creative hierarchies yet remains academically underexplored. Raising awareness and advancing the craft’s criticality may influence local and national policy. With the current economic climate threatening to permanently alter Ireland’s typographic landscapes, academic scrutiny of this rich graphic heritage has never been more crucial.

Effect of Risk on Total Debt of Companies Listed on the Nairobi Securities Exchange, Kenya

Despite the availability issue, debt financing continues to be an essential form of funding for businesses. Risks have been a major source of uneasiness for owners, executives, experts, as well as shareholders globally. The Kenyan enterprises have a greater susceptible to variations in currency rates in the nation’s economic climate, which is growing to become increasingly open with an increase in global trade. The study objective is to investigate the effect of risk on total debt of companies listed on Nairobi Securities Exchange. The study was underpinned by tradeoff theory and pecking order theory. The study utilized causal research design. Secondary data was used to collect data from yearly accounting statement from 2007-2011. Panel regression was used to analyze the fixed effect model. The result showed that risk negatively and substantially affects total debt. The study recommended that the management of listed firms should understand the tradeoff theory and pecking order theory. The study also recommended that risk should continually be monitored by companies to be in line with the prevailing economic conditions. This can be ensured by studying other factors trend that can affect the risk of companies.

Data-Driven Machine Learning Methods for Nontechnical Losses of Electrical Energy Detection: A State-of-the-Art Review

Nontechnical losses of electrical energy (NTLEE) have been a persistent issue in both the Russian and global electric power industries since the end of the 20th century. Every year, these losses result in tens of billions of dollars in damages. Promptly identifying unscrupulous consumers can prevent the onset of NTLEE sources, substantially reduce the amount of NTLEE and economic damages to network grids, and generally improve the economic climate. The contemporary advancements in machine learning and artificial intelligence facilitate the identification of NTLEE sources through anomaly detection in energy consumption data. This article aims to analyze the current efficacy of computational methods in locating, detecting, and identifying nontechnical losses and their origins, highlighting the application of neural network technologies. Our research indicates that nearly half of the recent studies on identifying NTLEE sources (41%) employ neural networks. The most utilized tools are convolutional networks and autoencoders, the latter being recognized for their high-speed performance. This paper discusses the main metrics and criteria for assessing the effectiveness of NTLEE identification utilized in training and testing phases. Additionally, it explores the sources of initial data, their composition, and their impact on the outcomes of various algorithms.

Mathematical Models for Forecasting Unstable Economic Processes in the Eurozone

In an unstable economic climate, all market participants want to know is when is the timing to overcome a recession, and what measures and means to use for economic recovery. In this regard, the process through which the Eurozone economy has gained momentum since the summer of 2022 has been a volatile one. This was reflected in a sharp rise in the price level, followed by a sharp rise in the ECB interest rates. The purpose of this paper is to provide short-term forecasts of the main parameters of monetary and fiscal policy by the euro area monetary authorities, based on a model developed by the authors. The distinctive feature of the presented and proposed model lies in the particularly careful selection of the parameter values based on actual statistical data. The statistics used for the proposed model cover the period from 2015 to December 2022. The simulation results show that the European Central Bank (ECB) needs to maintain a policy of high interest rates for a period of 12 to 14 months, which will help to bring inflation down to 2–3 percent in the future and move to a stage and phase of sustainable economic growth.

Coexistence of sustainability and growth in different economies

Research backgroundThe Sustainable Development Goals (SDGs) and their practical application to national economies have raised different lines of investigation among which this research focuses on interactions between macroeconomic indicators, namely Gross Domestic Product per Capita (GDPpC), Stock Exchange Indexes and CO2 emissions as indexes representative of SDGs achievement. Purpose of the articleThis research aims to analyze the current compatibility of the different SDG, more specifically those related to economic growth and climate sustainability. MethodsTwo methods have been followed: a descriptive methodology based on the Pearson Correlation Coefficient to assess potential behavioral parallelisms between the indexes studied. Inference, to define functional relations and potential causality traits between the macroeconomic indicators. Findings and value addedThe main added value of this research is to question the true simultaneous applicability of the different SDGs.

Examining the Dynamics Between Gross Domestic Product Fluctuations and Consumer Sentiment Shifts

This work presents how changes in the economic climate have affected consumer sentiment. Changes in the volume of GDP, industrial production, total consumption, consumption in the household sector and capital accumulation between 2018 and 2022 were analysed on a quarterly basis. The values of the main indicators reflecting consumer sentiment are also presented: the current consumer confidence index and the leading consumer confidence index. The consumer confidence indicators are also presented at the end of the individual quarters from 2018 to 2022. The results show that consumers observe the changing economic reality and do not always assess these changes positively, even if the effect of these changes indicate an increase in GDP.

Study of contemporary climate changes in the Ukrainian humid zone (on the example of the Volyn Region)

Modern agricultural production is under the direct influence of climatic changes, which is also reflected in the water regime formation of the soil during the cultivation of crops. Calculations were made and graphical materials were created for average daily, average decadal, and average monthly values of temperatures and the amount of precipitation per day, month, and year. The influence of modern climatic factors on the water regime formation of the soil (according to the data of the weather station of the city of Kovel, Volyn region) over the last 11-year period has been established. It was determined that the distribution of precipitation is as follows: the share of light precipitation (< 3 mm) is on average 13.9%, moderate (4–14 mm) is 43.3%, significant (15–49 mm) is 36.4%, strong (50–79 mm) is 5.4%, and extraordinary (80–100 mm) is 1% of the total amount. It was determined that the active layer of the soil is formed due to the influence of moderate and significant precipitation. Informational materials on the distribution of atmospheric precipitation by year in quantitative and percentage indicators and their repeatability are presented in an interactive visual report with graphic materials (dashboard), which allows the processing of large arrays of data. It was determined that modern climatic changes (increased air temperature, uneven distribution, change in the nature, intensity, and structure of precipitation, and the increase in the number of cases of heavy downpours that are local in the warm period of the year) don’t allow for the effective accumulation of moisture in the active soil layer. The obtained information materials are the basis for developing a methodology for substantiating the parameters of the management of the soil-water regime on reclaimed lands, taking into account the peculiarities of its formation in modern economic conditions and climate changes.

Balancing the health benefits and climate mortality costs of haemodialysis

Extensive work is underway to quantify the carbon footprint of specific healthcare interventions and identify ways to minimise healthcare-related emissions; however, it remains unclear how to balance the relative benefits from delivering healthcare with the harm from the associated carbon footprint. To estimate emissions-related harms, we used the Mortality Cost of Carbon, a recently developed metric from environmental economics, which presents the impacts of carbon emissions in the form of excess deaths. We convert deaths into years of life lost and compare this with the healthy life years gained, under two temperature scenarios: 'Dynamic Integrated Climate Economy Model with an Endogenous Mortality Response' (DICE-EMR) (2.4°C) and 'DICE-Baseline' (4.1°C). As a case study, we use haemodialysis, a life-prolonging intervention with a large carbon footprint. We estimate that 19-53 and 10-25 healthy life years are gained from haemodialysis per year of life lost from the associated emissions in the DICE-EMR and DICE-Baseline scenarios, respectively, depending on the country and treatment regimen. This brings the distribution of harms, benefits and tradeoffs inherent to the decarbonisation of healthcare into sharper focus. More fully accounting for the harm imposed by carbon emissions could result in better value investments to lower the carbon footprint of interventions and support the implementation of the net-zero healthcare agenda.

Climate policy versus growth concerns: Suggestions for economic research and communication

Climate change has revived the old debate on growth-vs-environment. In view of lack of definitive evidence for polarized pro- and anti-growth positions, I propose a different take on the debate which may provide new insights for designing climate policy to garner sufficient socio-political support. To this end, I explain a third position of being indifferent about economic growth – known as ‘agrowth’ – and argue it merits serious attention in education and research. In addition, I pay attention to how support for climate policy and views on growth-versus-environment are connected in a dynamic way. Better understanding of this may help to reduce resistance against climate policy that is motivated by growth concerns. To this end I propose a new framework, namely the policy-support cycle, which can be formally elaborated through a set of connect models and procedures. I end with providing a set of recommendations for the economic profession regarding participation in current debates on climate policy versus economic growth. Behavioural considerations will appear throughout the discussion as opinions about economic growth and climate policy by all stakeholders – citizens, journalists, scientists and policymakers – tend to be mediated by a variety of behavioural biases.

Towards a Sustainable Future: Green Recovery Initiatives in Germany, France, and Italy Post-Pandemic

This essay explores the concept of a "green recovery" in the post-pandemic context, focusing on the efforts of Germany, France, and Italy to integrate sustainability and environmental concerns into their economic and policy initiatives. The COVID-19 pandemic exposed vulnerabilities in these countries' economic structures, emphasizing the need for both economic recovery and climate action. The idea of a green recovery, which seeks to harmonize economic growth and environmental sustainability, is at the heart of their strategies. Germany, known for its commitment to renewable energy and environmental protection, has invested significantly in renewable energy sources, energy efficiency, public transportation, and research and innovation. France, in alignment with its climate goals under the Paris Agreement, has encouraged green investments, a circular economy, sustainable agriculture, and biodiversity conservation. Italy has focused on green infrastructure, sustainable tourism, renewable energy transition, and green job creation. The implications of these green recovery projects extend beyond their borders, potentially inspiring a global movement toward eco-friendly economic systems and climate mitigation efforts. These initiatives offer opportunities for green job creation, economic growth, and climate resilience, though they also require careful policy coordination and consideration of social equity. Germany, France, and Italy serve as examples of how sustainability can be integrated into post-pandemic recovery strategies, fostering a more inclusive, climate-friendly future.

Quantitative Analysis of Tidal Creek Evolution and Vegetation Variation in Silting Muddy Flats on the Yellow Sea

Coastal wetland ecosystems around the world are facing serious challenges due to rapid economic development, climate change, and sea level rise. These factors have a great influence on the tidal creek network and vegetation ecosystem. Accordingly, based on long-term time-series remote sensing images, the evolution characteristics of tidal creeks and vegetation in silting muddy flats on the Yellow Sea were analyzed, and different quantitative methods were used to describe the relationship between tidal creeks and vegetation. The results showed that the total number of tidal creeks exhibited a downward trend, while the number of small creeks increased over time. The total length of the tidal creeks decreased at a rate of 16.1 km per year during the study period. The length of three-grade tidal creeks, the patch area ratio of Suaeda salsa, and a low vegetation coverage had a great influence on the average return flow length (LOP). LOP was negatively correlated with the patch area ratio of S. salsa, but positively correlated with the reclamation area, both significantly. With the increase in the patch area ratio of S. salsa, the total length of the tidal creeks increased by 12.95 km, and LOP decreased by 35.35 m.

Prospects of legal reception in the conditions of Ukraine’s acquisition of EU membership

The free movement of goods, persons, services and capital is the basis of the functioning of the European Union as a regional supranational entity. It is these principles that determine the benchmarks of norm-making by the institutions of the European Union.&#x0D; At the same time, the specified bases determine the context of harmonization of the legislation of the member states of the European Union. Likewise, the main category of litigation, which is or has been under consideration by the Court of the European Union, concerns precisely the violation of the specified principles of the functioning of the internal market.&#x0D; In the context of the above, the European integration of Ukraine leads to a change in the paradigm of state regulation in the economic sphere, primarily towards the liberalization of legislative requirements. At the same time, this primarily concerns the state regulation of the tax and customs systems of Ukraine. Both the tax system and the customs need significant liberalization in the context of changing the repressive-fiscal approach to the service approach.&#x0D; The Association Agreement between Ukraine and the European Union itself establishes a series of successive steps aimed at adapting and harmonizing national Ukrainian legislation in the context of European values of free movement of goods, persons, services and capital.&#x0D; At the same time, taking into account the special nature of the constitution as the basis of the national legal system, the norms of which have direct effect, an important guarantee of the implementation within the Ukrainian jurisdiction of the above-mentioned four freedoms of the internal market of the European Union would be the constitutional consolidation of the principles of adaptation of Ukrainian legislation to the rules of the internal market of the European Union precisely in view of the basic paradigm of free movement of goods, persons, services and capital.&#x0D; At most, the existence of a constitutional consolidation of the foundations of the free movement of goods, persons, services and capital would make it possible to direct both judicial practice and law- making and by-law rule-making activities in the appropriate direction.&#x0D; The above would clearly contribute to the improvement of the economic and investment climate in Ukraine, which will become especially relevant in the war and post-war periods.&#x0D; At the same time, the reception mechanism is one of the most effective ways of unifying different legal systems.

Perception on global economy through world trade report: A corpus and computation-driven approach

This research aimed to investigate the lexical trends and sentiment shifts in the World Trade Report spanning 2018-2020 using corpus and sentiment analysis tools. Data of the World Trade Report from 2018 to 2020 was analyzed. We employed the Words tool, Whelk tool, and GraphColl tool within the LancsBox corpus tool to count high-frequency nouns and verbs, scrutinize the distribution characteristics of key words, and assess their semantic collocation features. Furthermore, sentiment analysis was conducted using the VADER algorithm. The results indicated that the 2020 World Trade Report prominently featured high-frequency nouns such as policy, innovation, and government, as well as verbs like support, mirroring the challenging global economic climate in that year. Semantic collocation analysis of key words from the 2020 report highlighted the significant challenges COVID-19 posed to global economic stability. Additionally, the sentiment scores from 2019 to 2020 exhibited notable differences, with a consistent decline in average scores annually and a more pronounced negative sentiment in the 2020 report compared to the previous years. Recognizing these linguistic and sentiment trends can aid policymakers and businesses in understanding the nuanced shifts in global economic narratives, especially in response to significant events like the COVID-19 pandemic.