Economic Recovery Plan Research Articles

Commentary: The grateful state

This article explores the totemic 2020 Queensland state election, at which a two-term government plagued by a deteriorating economy and widely criticised travel restrictions amid the COVID-19 pandemic was returned with an increased majority. The article posits three arguments: that COVID-19 created a new ‘lens’ through which electors evaluated public policy and that allowed voters to frame public health and safety over the more usual measures of economic performance; that Queensland voters drew on their traditional political culture – especially their predilection for strong leadership and state chauvinism – to evaluate the Palaszczuk Labor government’s pandemic management favourably compared with contemporaneous events in Victoria; and that Queensland voters expressed similar confidence in a Labor economic recovery plan that contrasted favourably with the LNP’s economic platform. In sum, this article argues that Queenslanders in 2020 cast a ‘gratitude vote’ for a government they saw as being in control of both public health and economic recovery.

Review of Economic Response and Recovery Plan during the COVID-19 in Nepal

Nepal government, IMF, World bank and other financial partners are working together in dealing the situation and saving the nation from falling economy as the macroeconomic consequences of the pandemic are high for a remittance based small economy. Considering this fact, Nepal must take the dramatic steps in saving the nation from the economic disaster. For these two steps need to be done. One making sure that our industries run smoothly and other one is giving special attention to mass testing and quarantine management at federal, provincial, and local level to combat this second wave. In this study, published articles related to COVID-19 and other outbreaks were searched and reviewed through different sources.

COVID-era policies and economic recovery plans: are governments building back better for protected and conserved areas?

COVID-era policies and economic recovery plans: are governments building back better for protected and conserved areas?

Building a Resilient Telecommunications Sector in Puerto Rico in the Aftermath of Hurricanes Irma and Maria

In September 2017, following two catastrophic hurricanes, Puerto Rico's wireline, wireless and cable networks were rendered largely inoperable. As this article will illustrate, the causes of this devasting failure of the telecommunications sector were not attributable to Hurricanes Irma and Maria alone. The hurricanes revealed the fragility of Puerto Rico's telecommunications infrastructure, which failed, leaving the majority of Puerto Rican citizens without a means to communicate by phone or by Internet or to reach 911 for emergency services for weeks or months. This article will also summarize the 33 courses of action (COAs) for rebuilding the telecommunications sector that were proposed by the Homeland Security Operational Analysis Center, a Federally Funded Research and Development Center (FFRDC) operated by the RAND Corporation and adopted by the government of Puerto Rico. These COAs were prepared as part of the Congressionally mandated Puerto Rico economic and disaster recovery plan. Even though significant progress has been made toward recovery in Puerto Rico, substantial investment is still required to achieve a resilient and robust telecommunications sector. The estimated cost for the 33 COAs was $3.2 billion. The overall cost estimate for the Puerto Rico recovery plan, including all sectors, was $139 billion.

Continuing the precedent: Financially disadvantaging young people in "unprecedented" COVID-19 times.

The COVID‐19 pandemic is both a health and an economic crisis. Economically, lockdowns across Australia have devastated business and industry, creating immediate spikes in under‐ and unemployment. These impacts intersect with the precarious labour market of casualised and "gig" economy work, where young workers constitute an established and substantial group. While negatively impacting upon many young people’s lives, in recent decades precarious employment has also been normalised for young people as they are encouraged to understand themselves as self‐reliant and entrepreneurial in their working lives. Yet, these workers have been largely abandoned in the government’s economic response to COVID‐19. The economic impact and government response to the pandemic substantially disadvantage young people. This article analyses the impact of new government initiatives: the "JobKeeper" wage subsidy scheme, "JobSeeker" payments and early access to superannuation, "JobMaker" economic recovery plan and the redesign of university fees. These initiatives compound preexisting youth policy of low welfare levels, youth wages and high university fees to economically burden young people. Contrasting the repeated expression of anything pandemic related as "unprecedented", we argue that the economic abandonment of young people in the immediate COVID‐19 crisis continues a decades‐long precedent in Australia of economically disadvantaging young people.

Carbon emission post-coronavirus: Continual decline or rebound?

Studies have shown that the COVID-19 pandemic has led to a significant drop in carbon emissions in 2020, however, it is an open question whether carbon emissions continue to decline after the COVID-19 pandemic. To forecast the changes in carbon emissions after the pandemic, this study analyzed the long-term relationship between the extreme events and carbon emissions since 1960, and short-term drivers of the changes in carbon emissions before and after the 2008 financial crisis. Extreme events cannot change the upward trend of carbon emission in the long run. Specifically, the extreme events (1973 oil crisis, the American Reserve Loan Association crisis, the disintegration of the former Soviet Union, the Asian financial crisis and the 2008 financial crisis) led to a decline in carbon emissions temporarily, however, a retaliatory rebound of carbon emission were occurred after the extreme events. The long-term relationship between extreme events and carbon emission indicate that this unfolding extreme event (COVID-19 pandemic) cannot change the trend the carbon emission, and carbon emission will be rebound after the pandemic. In addition, the decomposition results showed the main contributor to the retaliatory rebound of carbon emissions after the 2008 financial crisis was the decline in energy efficiency. The decline in energy efficiency was caused by the economic recovery plan post 2008 financial crisis, which stimulated the economy and employment at a cost of energy efficiency and environmental protection. The current economic recovery plans to deal with COVID-19 pandemic also prioritizes economic development and job creation, while ignoring energy efficiency. Therefore, the post-pandemic carbon emissions will repeat the carbon emissions after the 2008 financial crisis, i.e., there will a retaliatory rebound. To avoid the retaliatory rebound, improving energy efficiency should be included in these economic recovery plan to cope with COVID-19 pandemic.

Prediction of Trace Metal Distribution in a Tailings Impoundment Using an Integrated Geophysical and Geochemical Approach (Raibl Mine, Pb-Zn Alpine District, Northern Italy).

When mines are decommissioned, tailings piles can act as sources of contamination for decades or even centuries. Tailings, which usually contain high concentrations of metals and trace elements, can be reprocessed for a secondary recovery of valuable elements with an innovative approach to a circular economy. This study offers new results for tailings ponds characterisation and chemical content prediction based on an integrated geophysical-geochemical approach. The study of the Raibl Pb-Zn tailings impoundment was done using bulk chemical analysis on borehole samples, Electrical Resistivity Tomography surveys, and Ground Penetrating Radar measurements. We found valuable and statistically significant correlations between the electrical resistivity of the mining impoundments and the metal distribution, thus providing a practical opportunity to characterise large volumes of metal-bearing tailings. In particular, these results can be useful to aid in the development of environmental monitoring programs for remediation purposes or to implement economic secondary recovery plans.

Public-private partnership for building a resilient broadband infrastructure in Puerto Rico

This article will explore the use of an innovative approach to a public-private partnership (PPP) to spur the deployment of broadband and create more resilient telecommunications networks in Puerto Rico. Such a partnership is a critical ingredient of the plan for rebuilding the telecommunications sector of Puerto Rico after the island was devastated by Hurricanes Irma and Maria in September 2017. The proposed partnership also has the potential for enabling the expansion of citizen access to broadband services throughout Puerto Rico. This work was done as part of the Congressionally mandated economic and disaster recovery plan for the island.

Assessment of Nigeria economic recovery and growth plan 2017-2020: A contemporary issue

The choice of this paper was based on the fact that prior to establishment of economic recovery and growth plan which was considered as a panacea to Nigeria economic problems, several development plans have been implemented by the federal government in the past to stabilize the economy. Based on the Keynesian Economic Stimulus theory, the paper matched acclaimed achievements of government Economic Recovery and Growth Plan with the 2020 budget as basis for considering the possibility of achieving targeted terminal objectives of the development plan. The paper discovered that increase in megawatts generation from the power sector is not sustainable. Huge amount in the 2020 budget was to be borrowed and more for debt services while meager mount was earmarked for infrastructure which cannot be translated into welfare provision. It was further discovered that there was intended increase in tax which will stiffen business operations and cause infant businesses to close shops. The paper suggested that there should be continuity in project execution by successive governments to avoid a break in on-going developmental projects and recorded achievements. Every development plan should be based on home environment because of existing culture and climate rather than being initiated by World Bank. Certain key sectors of the economy should be favored in budgetary allocations to encourage diversification of the nation’s productive base and revenue generation other than crude oil.

The need for a federal Basic Income feature within any coherent post-COVID-19 economic recovery plan

COVID-19 has shone a harsh light on the extent of poverty in Canada. When normal economic activity was interrupted by the exigencies of public health driven lockdowns, the shutdown disproportionately affected people who, before the pandemic, were living on incomes beneath the poverty line or dependent upon low-paying hourly remunerated jobs, usually part time and without appropriate benefits. Those living beneath the poverty line in Canada, three million of welfare poor and working poor, include a disproportionately large population of Black and Indigenous people and people of colour. This paper addresses the challenge of inclusive economic recovery. In particular, we propose that the federal government introduce a Basic Income guarantee for all residents of Canada as part of a comprehensive social safety net that includes access to housing, child care, mental and physical health care, disability supports, education, and the many other public services essential to life in a high-income country. Residents with no other income would receive the full benefit that would be sufficient to ensure that no one lives in poverty, while those with low incomes would receive a reduced amount.

Disruptive Technology and Regulatory Response: The Nigerian Perspective

The mobile telecom industry is changing and the competitive landscape for mobile network operators has been disrupted. The industry is shifting from an environment characterized by reliability and scale of networks, to an environment where choice and flexibility of services are more prominent. These have changed the basis of competition and represents the shift from mobile telephony to mobile computing. However, new challenges are assumed to disturb the sustainability of telecommunication companies. Mobile phone companies are likely to be directly affected by rapid mutation occurred in consumers spending habits closely linked to a variety of technological innovation. Hence, this study examined disruptive technology and the Nigerian regulatory response. The study surveyed existing literature to situate this current study within the context of existing evidence. Also, brief articulation of the concept of disruptive technology, its presence in Nigeria and the country’s regulatory response as well as reactions thereto. A peep was also taken into the recently released Economic Recovery and Growth Plan, the nation’s recovery and growth plan document put together by the Ministry of Budget and Planning, with respect to the technological breakthrough and projections for the country and the sort of regulatory framework required to effectively and successfully deliver on the same. The study concludes with a call for more regulatory activity to balance the competing interests in the society, yet focusing on the benefits such disruptions herald. Keywords: Disruptive technology, Innovation, Mobile phone, Over-the-top, Technology, Technology regulators, Telecommunication DOI: 10.7176/CEIS/12-1-06 Publication date: January 31 st 2021

Senegal

Although the pandemic has remained fairly contained in Senegal, its economic impact has been severe. Strong fiscal and monetary policy support has helped bolster the health system and cushion the economic shock, with additional fiscal spending exceeding 3 percent of GDP. The IMF disbursed US$442 million (100 percent of quota) under the RFI/RCF in April to support the crisis response. An ambitious 2021–23 economic recovery plan aims to build a more resilient economy and support inclusive and private sector-led growth. WAEMU Finance Ministers agreed to return to the 3 percent of GDP fiscal deficit anchor more gradually (by 2023) owing to the pandemic’s impact and the security challenges in the Sahel.

Impacts of Migration on the Economy of North-East Nigeria

Nigeria as a nation state has shared in the threats caused by globalism. North-Eastern region of Nigeria has in the last couple of years, been witnessing serial outward movement of its population to other neighboring countries. This is perceived as a result of lag on the nature and configuration of Nigerian security engagements which is at the verge of losing war against Boko Haram. More worrisome is the continued decline in the economies of the region due to quantum exit of their labour force to other destinations. The focus of the study is to examine the pull-push variables that had implicated the mass exodus of the labour force, the implications of their exodus on the economy of the region, and the institutional framework designed to revamp their economy. The paper adopted qualitative method, and data were generated through secondary sources and analyzed using content-analysis. The theoretical framework for the study was the Routine Activity Theory (RAT), as propounded by Cohen and Felson, and validated through the empirical works of Clarke and Felson, Felson and Clarke, and Felson. The findings of the study revealed that despite the exerted efforts by government through its institutions, the North-east region has continued to witness mass exodus of people from region, and this has affected the labour force and economic growth of the zone. The paper strongly recommends among others: proactive and total overhauling of the security architecture in the area, as well as establishment of a formidable economic recovery plan/ actions for the zone.

Преодоление последствий COVID-19 в ЕС: наднациональный финансовый аспект

The COVID 19 pandemic has led to an acute socio-economic crisis in the world, including in Europe. Anti-crisis measures at the supranational level are considered. The pandemic, which, after the Brexit decision, became another test for European integration, led to the development of a number of anti-crisis measures by the European Commission. On May 27, 2020, the European Commission presented a draft of measures to combat the pandemic, where the main role assigned to the EU Common Budget. The crisis has demonstrated that more funds and powers at the supranational level need to respond to emergencies. The Europeans were forced to take an unprecedented step – a possible “temporary increase in the Own resources ceiling,” which is legally limited and very slowly changing. The results of the meeting of the European Council in July 2020, dedicated to the Commission project were analyzed. A comparison made between the final indicators adopted at the Council, with the figures of the current Multiannual Financial Framework and the project of the European Commission for 2018–2020. Sources of financing for the European Economic Recovery Plan presented. The modern system of own resources does not contribute to the implementation of all the most important EU strategies and initiatives in the field of sustainable economic growth and development. New own resources will not only complement traditional ones, but also demonstrate priorities in the field of environmental policy and fair taxation. The Commission new project enhances the role of the Common Budget in integration and links it closely with the implementation of the long-term strategic priorities of the EU’s economic development. The conclusion is about the multi-vector impact of COVID 19. This force majeure circumstance, if the member states effectively unite their efforts to prepare the foundations for economic recovery, may become an impetus for further deepening European integration.

Increasing Global Climate Ambition and Implications for Korea

Since the adoption of the Paris Agreement, wider and decisive actions to tackle climate change and reduce greenhouse gas (GHG) emissions have been called for in the international community. Many countries are seeking a sustainable economic recovery plan that reflects climate change and environmental considerations. The private sector has also been trying to expand environmentally sustainable investments and disclose relevant information on climate change. In particular, major GHG emitters such as China, the United States (U.S.), European Union (EU), Japan and Korea have pledged to move forward carbon neutrality. For this goal, the EU has established action plans for the European Green Deal, including a plan for introducing a Carbon Border Adjustment Mechanism (CBAM). In this context, this study aims to propose policy recommendations for Korea by analyzing measures to strengthen reduction targets and the economic impact of the EU's CBAM. The following implications can be derived. First, it is necessary to support low-carbon transition efforts in industries. Second, it is also important to support low-carbon technological innovation. Third, monitoring and response measures for the CBAM should also be prepared. Fourth, the private sector should expand voluntary efforts to reduce emissions and environmentally sustainable investment. Lastly, it is necessary to actively engage in international cooperation, not only in terms of reducing GHG emissions but also responding to climate change.

Economic Shocks of Covid-19: Can Big Data Analytics Help Connect the Dots

Since the beginning of the Covid-19 pandemic, big data analytics (BDA) remains a signatory medium in the battle against it. Governments and policymakers alike are yet to leverage on this scalable technology in an attempt to curb the economic effects of Covid-19. The primary objective of this study is to leverage on BDA to identify economic shocks, and propose a strategic solution for economic recovery in ASEAN member states (AMS). The findings of this study suggest that BDA techniques, frameworks, and architectures are effective tools in predicting and tracking economic shocks, as well as in designing and implementing an effective economic recovery plan. This study proposes a guideline to governments and policymakers scrambling for resources and considering different options to start an economic recovery process. Our findings draw a roadmap for complex AMS economies struggling to explore options for economic recovery in the response of Covid-19. This study has extended and confirmed the knowledge and perception about harnessing BDA as a tool as well as proposed a scientific approach to design economic policies. The findings outlined in this study contribute to the pipeline of BDA’s theoretical frameworks which is expected to strengthen its novelty in data science.

Solidarity and responsibility as a framework for the COVID-19 response in the European Union – the European Green Deal is a path?

Recognised as an ambitious step, the European Green Deal guides the application of European Union policies not only in the environmental field, but also in other areas that may directly or indirectly interfere with human health and environmental sustainability, with the aim of transforming climate challenges and environmental issues in applicable opportunities. With the COVID-19 crisis, major challenges have emerged and aggravated extant problems in the most varied societies. In the European Union’s context, the impact of the new pandemic stood out, especially at the beginning, showing different responses by the Member States, in a disorderly and isolated way between one border and another, which highlighted when it would be placed in practice. Member States´ solidarity and responsibility to work together towards an economic and social recovery plan is critical in order to keep European project alive. Therefore, in an attempt to reinforce the link between solidarity and responsibility among Member States, the European Union uses the Green Deal to respond to the crisis through a recovery that has common objectives around the sustainability and well-being of its citizens.

Barbados

Barbados has made good progress in implementing its Economic Recovery and Transformation (BERT) plan to restore fiscal and debt sustainability, rebuild reserves, and increase growth—but faces major challenges owing to the global coronavirus pandemic. Since May 2018, international reserves have increased from a low of US$220 million (5-6 weeks of import coverage) to more than US$1 billion at end-October 2020. This, and a successful 2018-19 public debt restructuring, have helped rebuild confidence in the country’s macroeconomic framework. While the local spread of COVID-19 has been successfully contained, allowing for a cautious reopening of the tourism sector in July, economic activity remains severely depressed owing to the global pandemic. Risks to the outlook remain elevated.

CORONAVIRUS LOCKDOWN AND SOCIO-ECONOMIC IMPACT ON INDIGENT HOUSEHOLDS IN IBEWA COMMUNITY, ONELGA, RIVERS STATE, NIGERIA

The study investigated the socioeconomic impact of coronavirus lockdown in Ibewa community, Ogba/Egbema/Ndoni Local Government Area, Rivers State. The socio-ecological resilience theory served as the theoretical framework while the cross-sectional design was used for the study. Both probability (stratified, simple random) and non-probability(purposive) sampling techniques were used for the sampling procedures. Quantitative (questionnaire) and qualitative (Seven focus groups) were used in gathering primary data. Also, Cronbach Alpha was used to measure the reliability of instrument(s). On the basis of data collection, twenty-two (22) respondents were randomly chosen from the seven (7) household groups that were already in strata (7×22=154). Data collected for the study were analyzed with univariate (mean), bivariate(chi-square) and multivariate (multinomial/linear logistics regression) statistic(s) with the aid of Statistical Package for Social Sciences (SPSS), Version 23.0. Based on analysis, the study discovered that lockdown led to human right abuse, economic hardship, deviant behavior among others. In view of these findings, the study recommended that the Federal Ministry of Humanitarian Affairs Disaster Management and Social Development should design an economic recovery plan for indigent households. Also, the Nigeria Centre for Disease Control should propose a legislative framework that will curb price hike of essential commodities during disease outbreak.

Indonesia Under the New Normal: Challenges and the Way Ahead

As the Covid-19 crisis deepened in 2020, President Joko Widodo announced that Indonesia should prepare for the ‘new normal’. But when social distancing restrictions were relaxed in June to encourage economic recovery, the virus was not yet contained in Indonesia. Since then, the rate of infection has been rising faster than in many neighbouring countries. The pandemic has hit the economy hard, with a 5.3% reduction in GDP in the second quarter, the worst economic slump since 1998. In this Survey, we look at how Indonesia is preparing for the new normal. We argue that the government is focused on short-term recovery and does not have a clear strategy to address the medium-and longer-term implications of Covid-19. The response to the virus relies on public compliance to public health measures. There is a clear lack of emphasis on reducing the rate of infection through effective testing and tracing and enforcing social distancing and mobility restrictions. The government has developed an economic recovery plan that concentrates on cushioning the short-term impact of the crisis and supporting the poor and near-poor, rather than reducing long-term poverty and preventing structural changes in unemployment. Finally, we find that the pandemic is undermining the long-term financial sustainability of Indonesia’s social health insurance system. The education sector is reasonably prepared for extended school closures and distance learning. Yet there is no strategy to address the accumulated learning losses resulting from this crisis.