Global Recession Research Articles

How food insecurity and childhood undernutrition thrive in a global economic recession?

How food insecurity and childhood undernutrition thrive in a global economic recession?

The spatial division of precarious labour across the European Union regions: A composite index analysis of the 2008/2009 global economic crisis effects and COVID-19 initial implications

The successive crises of the 21st century (2008/2009 global recession, COVID-19) have significantly affected the organisation of work and increased the flexibilisation and precarisation of labour, reflecting the changing needs of capital accumulation. Although employment reorganisation is unevenly distributed across space, the link between labour precarisation and cities or regions has not been studied in depth, with most research efforts focusing on the national scale. This article enriches the emerging literature for composite indices of labour market change by constructing an index of labour precarity at the regional scale. It estimates the very Flexible Contractual Arrangements Composite Index in the NUTS2 regions of the European Union from 2008 to 2020 to provide a comparative analysis of the impact of the global recession of 2008/2009 and the initial implications of COVID-19. The findings highlight a persistent division between peripheral and core regions. High precarity is a persistent feature of less developed regions, although it is also increasing significantly in urbanised, economically advanced regions. As found, the degree of labour precarity of a regional labour market is the complex result of national factors as well as regional characteristics such as specialisation, remoteness, path dependency, and local institutional practises and population dynamics.

Bleak horizons: global recession, parental unemployment and the erosion of children's emotional stability.

Bleak horizons: global recession, parental unemployment and the erosion of children's emotional stability.

Assessing the Macroeconomic Consequences of External Financial Upheavals on China: A Caution of a Silicon Valley Bank’s Collapse

In the context of an increasingly interconnected global economy, deciphering the complex ripple effects of external financial disruptions on national economies is a task of utmost significance. This article dives deep into the intricate repercussions of such disturbances on the macroeconomic dynamics of China using the example of the potential insolvency of a Silicon Valley bank. Grounded in empirical scrutiny, we leverage data spanning from Q1 2000 to Q1 2022 and the analytical utility of the impulse response function to illuminate our findings. We find that external financial tumult triggers a global recession, adversely impacting China’s export-driven economy while simultaneously unsettling aggregate output, employment levels, and wage stability. Simultaneously, these disruptions induce variability in consumption tendencies, investment trajectories, and import volumes and inject instability into interest rate paradigms. We also acknowledge the potential for currency depreciation and bank insolvency incidents to induce inflationary stresses, primarily by escalating the costs of imports. However, these inflationary tendencies may be offset by the concomitant economic slowdown and diminished demand inherent to global recessions. Importantly, the tightening of global credit conditions, coupled with existing financial ambiguities, may obstruct investment initiatives, curtail imports, and exert influence on both risk-free and lending interest rates. Our investigation also probes into the response of the Chinese government’s monetary policy to these external financial shocks. Despite the vital role of monetary policy in alleviating the impacts of these shocks, the potential secondary effects on China’s domestic economy warrant attention. Our study underscores the imperative of proper policy design rooted in a profound understanding of the intricate economic interdependencies for effective management and mitigation of the potentially detrimental consequences of such financial upheavals on China’s macroeconomic resilience within the tapestry of a tightly knit global financial ecosystem.

THE CORONAVİRUS (COVID-19) PANDEMİC: ECONOMİC İMPLİCATİONS AND CHALLENGES

The COVID-19 pandemic is an unstoppable worldwide epidemic. As of mid-September 2021, there have been more than 44 million confirmed cases of COVID-19. World Bank estimates show the deepest global recession since World War II, with millions out of work. Quarantines and other extreme restrictions cannot be sustained in the long term in the hope that there will be an effective vaccine or treatment for COVID-19. Rather, these restrictions give countries time to reduce disease incidence and take robust but sustainable measures to prevent and control transmission. When and how a country eases restrictions are common challenges facing governments around the world as they try to balance various health, social and economic challenges.

The 2023 LCGC Salary Survey: How Workers Are Navigating A Tough Economic Landscape

The fallout from the Covid-19 global pandemic remains in progress in 2023. Because of the current ongoing global recession, we anticipated that many workers would be concerned about their current jobs and how to adjust to rising inflation. In this year’s LCGC Salary Survey, we sought to explore these topics. In addition to compiling information about the average salary trends and reported on how these trends compare to previous years, we focused this edition of our questionnaire on the current economy, asking respondents to offer their opinions on whether a recession is taking place where they reside, and what impact it is having on them mentally and financially. The results from our survey indicate that anxiety about the current state of the economy was on respondents’ minds in 2023.

Modern Plant Biotechnology: An Antidote against Global Food Insecurity

Food insecurity has become a pressing issue on a worldwide scale as the globe plows through a food crisis. The disastrous impact of this menace has been exacerbated by climate change, frequent conflicts, pandemic outbreaks, and the global economic recession, which have been prevalent in recent years. Although food insecurity prevails globally, it is especially critical in some regions in Africa, East and Southeast Asia, and South America. Several efforts have been made to curb food insecurity; however, none have been able to curtail it sufficiently. Genetic engineering of crops is a fast-growing technology that could be a viable tool for mitigating food insecurity. Crop varieties resistant to pests and diseases, abiotic stress, spoilage, or specific herbicides have been developed using this technology. Crops have been modified for increased yield, nutritional content, essential vitamins, and micro-mineral fortification. More intriguing is the advent of plant-derived edible vaccines, which prove equally effective and significantly affordable. However, in many countries, government policies pose a limiting factor for the acceptance of this technology. This article discusses the genetic modification of crops, highlighting its origins, methods, applications, achievements, impact, acceptance, distribution, and potential as a viable antidote to global food insecurity.

Government’s Strategy in Maintaining Economic Resilience during the Covid-19 Pandemic

The threat of recession stalks the world’s economies, including Indonesia. It has also been warned by the world’s economists of the coming storm of global recession. This is evidenced by the slowdown in global economic growth, namely the United States, China and the European Union. This threat is a non-military threat, so it is necessary to determine a strategy to deal with it so that the Indonesian economy can survive. This paper aims to examine the Indonesian government’s strategy in anticipating the economic impact of Covid-19 through fiscal and monetary policies. This research uses literature study with a descriptive approach. The conclusion that can be drawn is that the government needs to continue to evaluate and adjust policies according to developing conditions.

Modelling Regional Sustainable Development in Ukrainian Crisis and War

The article investigates the impact of force majeure crisis factors that appeared in the Ukrainian economy as a result of the global recession, the events of 2014-2021: annexation of Crimea, temporary occupation of part of the industrial territories of Donetsk and Luhansk regions, military operations in Donbas, during the fight against pandemic (COVID-19) and war in 2022 on the stable development of regions. Based on the analysis of official indicators of the State Statistics Service of Ukraine, it was proved that the said factors create additional multiplier and acceleration effects that adversely affect the dynamics of the gross regional product in the crisis conditions. It has been determined that the result of these effects is the transformation of crisis signals from a proactive to an active phase. The construction of a heat map of GRP correlation indicators made it possible to determine the existence of a disbalance between the economic and social development of the regions. Building a model of linear regression, allowed us to draw conclusions about the existing disbalance of GRP regions during the crisis and war.

ФІНАНСОВА БЕЗПЕКА КРАЇНИ В УМОВАХ ЦИФРОВІЗАЦІЇ СОЦІАЛЬНО-ЕКОНОМІЧНИХ ПРОЦЕСІВ

The issues of the study concern the high level of inflation, low growth rates, high internal and external debt, which reduce the incentives for investment necessary to restore growth and improve the standard of living and increase the degree of financial fragmentation. It is noted that today's weak demand and the high cost of bank loans will put pressure on global financial markets, which will force multinational companies to cut costs: from cutting operating costs to laying off workers. The interdependence of disruptions in the supply chain and the level of business activity of aerospace enterprises is substantiated. The purpose of the study is to analyze the trends and risks of existing concepts of guaranteeing the financial security of the country in the context of systematization of modern provisions and concerns of leading financiers regarding the probability of a global financial recession in the conditions of digitalization of socio-economic processes. Scientific publications and monographic editions, magazine articles and materials of scientific and practical conferences became the methodological basis of the research. Content analysis of scientific periodicals was used during the research; comparative critical analysis of existing approaches and methods of analysis of financial stability and tax burden; analysis of economic activity of enterprises in the aerospace industry; statistical methods of analysis. The main hypothesis of the study was the assumption of the possibility of restoring the production potential of aerospace enterprises due to the introduction of the latest financial and economic technologies of digital transformation of Ukraine, national projects for the development of entrepreneurship, digital interaction platforms. Presenting main material. The list of necessary skills of employees to meet the modern needs of society at the current stage of financial and economic development is analyzed. The classification of the necessary retraining of employees until 2025 due to the growth of the introduction of technologies and the level of their mastery is presented. It is proposed to carry out an effective policy in the field of providing the financial market with banking regulation instruments and attracting new investment resources with a guarantee for investors to return their own funds. The originality and practical significance are defined in the development of a methodical approach to determining indicators of the country's financial security under the conditions of digitization of socio-economic processes. Conclusions and prospects for further research. The article can contribute to the development of new financial instruments and technologies that take into account digital trends. The possibilities of using blockchain technologies, artificial intelligence and automated systems to ensure the financial security of the country are highlighted. The methods of assessing potential threats, the effectiveness of security measures and determining priorities in investing in digital security are characterized

Klasifikasi Sentimen Masyarakat di Twitter Terhadap Ancaman Resesi Ekonomi 2023 dengan Metode Naïve Bayes Classifier

Economic recession is a condition in which the economic turnover of a country changes to slow or bad that can last for years as a result of the growth of the Gross Domestic Product (GDP) a country decreases over two decades significantly. Early warnings of the emergence of a global recession become a concern for all countries in the world, even global recessions also have a major impact on Indonesia. Such as declining public spending due to decreasing incomes, increasing unemployment, increasing poverty, and many of whom have to accept PHK or salary cuts. Economic strengthening will be important in minimizing these threats, this research needs to be done to see the response of the public to the threat of economic recession. Twitter provides a container to users to comment on the problem of the economy recession 2023 which can be used as sentiment classification information to know positive and negative comments. This research uses the naive bayes classifier algorithm. In this study there are seven main processes, namely data collection, manual labelling, processing, feature weighing (tf-idf), tresholding, naive bayes method classification, testing. From the 1408 comments data on Twitter about the threat of a 2023 economic recession. Based on the results of the classification, using 2 testing models namely data balance and non-balance data obtained the best balance data test results with the highest accuracy result with the process of classification using algortima naïve bayes classifier resulted in accurateness of 78% obtainable by using a comparison of 90% training data and 10% test data.

Impact Factors of China’s Outward Foreign Direct Investment in Singapore

The sudden outbreak of COVID-19 pandemic led to a global recession, but China's OFDI remained on a steady rise, attracting global attention. By the end of 2020, Singapore was the second most developed country after the US in terms of receiving outward foreign direct investment (OFDI) flows from China. The investment cooperation between China and Singapore played an important role in promoting the high-quality development of the Belt and Road Initiative and enhancing the economic cooperation between China and ASEAN after the COVID-19 pandemic. This study delves into the influencing factors of Chinese OFDI to Singapore: home country institutions, host country institutions, and investment motives. This study takes Singapore as the research object and uses the data of China’s OFDI to Singapore from 2001 to 2020 to conduct an empirical analysis through a modified regression model to analyze the development of China’s OFDI to Singapore, so as to make contributions to: (1) providing empirical evidence for studying OFDI from developing to developed countries; (2) providing reference for investment cooperation in the post COVID period between China and Singapore.

Kebijakan Ketahanan Pangan Pemerintah Daerah Kabupaten Lingga

The purpose of this research is to examine the potential issue of a global recession which has an impact on the potential for a food recession after the pandemic hit Indonesia. In order to make the discussion more focused, this study focuses on the policy and strategy efforts of the local government of Lingga Regency in terms of food security to overcome the food crisis. The research method uses a qualitative approach with research subjects selected using purposive sampling. The research results show that the local government's efforts to realize regional food security are realized by making regional policies to guarantee sustainable agricultural land so that land allotment is only for agriculture to prevent land conversion. This is also to realize agricultural development planning under the 2016-2021 Lingga Regency Regional Medium-Term Development Plan focusing on agricultural development with the Agrominapolitan program, which will continue in the following regional leadership. In the effort to regional food security, the contribution of the community, mainly subsistence farmers, has had a significant impact in supporting food supply for the Lingga district, which so far has been very dependent on food supplies from other regions, so that food shortages have become high, especially during specific climate changes.

Global Economic Recession as a Major Risk Beyond Business Insights and Economies

Abstract Global economic growth prospects are facing ups and downs, the rise of interest rates to contain inflation, especially after the lingering effects of the pandemic and supply chain disruptions, recession and geopolitical tensions are obstacles for the world economy. The research question is what are the reasons for the recent global economic recession and what challenges could have on business and markets? As a methodology of research, we focused on a literature review of the existing literature and data analysis. Various economic recessions could happen from time to time and several have happened throughout history affecting the financial levels of businesses and profits. The economy bases as well on the degree of production, services, goods, consumer confidence and market trends. So, the stability of companies and countries depend a lot on these things. The results show that advanced economies raise interest rates to combat inflation, financial conditions are tightening, especially for emerging market economies. In conclusion, with cautious policy action, new strategies of negotiations and joint multilateral efforts, the world could move towards stronger and more inclusive growth. Strengthening global cooperation remains the best way to improve economic prospects. Fostering emotional intelligence in business is important. Mainly it is better to avoid? Decrease or deal with inflation rates first then with the recession since inflation is one of the main indicators and drivers to and in a recession.

Corporate Governance and Financial Statement Fraud during the COVID-19: Study of Companies under Special Monitoring in Indonesia

The COVID-19 pandemic had a wide-ranging impact, resulting in a global recession due to weakened purchasing power. This circumstance necessitates business organizations adapting to developments and being more conscious of the risk of financial statement fraud. The intention of this research is to investigate the way corporate governance affected financial statement fraud during the COVID-19 pandemic. To acquire empirical data for examining corporate governance variables on financial statement fraud, the research was examined using quantitative methods. The study takes advantage of secondary data acquired from annual reports of companies under special monitoring listed on the Indonesia Stock Exchange of 2020–2021. The logistic regression method was used to evaluate 134 data sets, and financial statement fraud was measured using the Z-Score and F-Score models. The results indicate that when using the Z-score, only the board size has a negative effect on financial statement fraud during the COVID-19 pandemic. Meanwhile, using the F-Score, the corporate governance variables studied are not proven to have an influence on financial statement fraud during the COVID-19 pandemic.

Mitigating the impact of global recession on construction projects: Exploring potential solutions

The effect of global recession has caused many havoc to construction project in Nigeria, if not prevented, it can cause high cost of building materials, abandon project and insolvency. Therefore, this study examined the possible solution to the effects global recession on construction projects in Ondo state, Nigeria. This was with a view to reduce the effects of global recession on construction projects in the study area. The study is important to the construction stakeholders, policy makers and future studies. Seventy-one (71) valid questionnaires were administered among the construction stakeholders working on a construction projects in the study area, these include the Quantity surveyor, Architect, Engineer and Builder with a retrieval of Sixty-two (62). Frequency and percentage were used to analyze the demographic information of the respondents while data on possible solution to the effect of global recession on construction project was analyzed using mean score and ranking. The study concluded that Government should invest in large scale public infrastructural projects, transparency and check unethical behavior among workers, well prepared and planned budget are major possible solution to the effects of global recession in construction projects. This study recommended that Government involvement in providing the social amenities for the smooth running of the project, transparency among the stakeholders should be adopted and the scope of the project should be well understood in order to prepare a well-planned budget to curb global recession in construction industry.

Effects of the Economic Recession on Swiss Tourism

The tourism industry is a very major contributor to Switzerland's economy. However, in recent years, global economic downturns have negatively impacted the tourism revenue. This research examines the effects of the economic recession over the past 5 years on Switzerland's lucrative tourism industry. Specifically, it investigates if the rising inflation and unemployment have reduced the local tourism and if income inequality has deterred international travelers. A qualitative electronic literature review was conducted analyzing the recent studies on Swiss tourism from 2020-2023. Articles were screened for relevance and 5 studies were selected for a final review based on inclusion criteria. The data shows international tourist visits to the United States declined by 62% during COVID-19. Additionally, overnight hotel stays fell 26% in the Zurich from pre-pandemic levels. However, domestic travel proved to be very resilient as Swiss nationals opted for staycations. Of the metrics examined, international tourists and total tourist arrivals had the strongest correlation with the economic decline, with over 80% of sources confirming this relationship. However, factors like resort bookings, culinary sales, and also popularity of mountain sports showed weaker connections. Ultimately, there is insufficient evidence to conclusively state the economic hardships have significantly dampened Switzerland's tourism industry. While global recessions may temporarily slow the visitor numbers, Switzerland's appeal remains largely impervious to the outside financial instabilities. Further quantitative research through tourist surveys could provide much more clarity.

Determinants of The Human Development Index During the Covid-19 Pandemic: A Case Study for Regencies/Municipalities In Jambi Province

It is expected that the COVID-19 pandemic could cause a global recession with a significant impact on disrupting economic activities. This study's primary objective is to determine the impact, effect, and determinant of Human Development Index (HDI) during the COVID-19 pandemic in the regencies/municipalities of Jambi Province, utilising four independent variables: economic growth, poverty rate, unemployment rate, and income distribution inequality. To analyse the impact of COVID-19 during the pandemic on independent variables, the author used different test analyses and a quantitative descriptive method. Using a regression panel model, the author analyses the impact of a pandemic on Jambi Province's HDI for the years 2017 to 2021. Different test results indicated that the COVID-19 pandemic had an effect on economic growth, poverty rate, and unemployment rate in the regencies/municipalities of Jambi Province, but had no effect on income distribution inequality. The regression estimation of panel data using a Fixed Effect Model reveals that the poverty rate and open unemployment rate have a significant effect on the HDI in the regencies/municipalities of Jambi Province, whereas economic growth and income distribution inequality do not.

The Effect of Financial Knowledge, Financial Experience, and Locus of Control on Financial Management Behavior at Batik Msmes in Tuban

The global financial recession that occurs in Indonesia is now one of the phenomena that can reduce the stamina of the national economy. With the recession in 2023, it will have a negative impact on MSMEs in Indonesia. MSMEs have a positive influence on the Indonesian economy and regional economy, one of which is Tuban Regency which is a batik producing area, but its existence is still not widely known to people. In opening a business such as batik MSMEs, knowledge, experience, and locus of control are needed, in managing the finances of these batik MSMEs. This study is intended to identify how the influence of financial knowledge, financial experience and locus of control on financial management behavior in Batik MSMEs in Tuban. This research method is quantitative by taking a sample of 95 respondents and the distribution of this questionnaire is assisted by Google Form. The samples in this study were taken using probability sampling techniques. The sample consisted of respondents from the Batik MSME Center in Tuban. The data used in this study are primary data and secondary data. The analytical techniques used in this study are (PLS) with validity tests, reliability tests and hypothesis tests. The results of this study found that the variables of financial knowledge, financial experience, and locus of control had an effect and were significant on the variables of financial management behavior. Financial knowledge plays an important role in the financial management behavior of Batik MSMEs. The higher an individual's understanding of financial knowledge, the higher the level of financial management behavior, so that financial knowledge has a positive influence on financial management behavior in Batik MSMEs in Tuban.

OECD Ülkeleri Örneğinde Türkiye’nin İhracat Analizi: 1982Q1 ve 2021Q1

International economics is a field that primarily examines the liberalization of trade and its impact on a country’s gross domestic product (GDP). The trade policies in the World economy, specifically Türkiye as a developing economy, have experienced different cycles since the 1980s, and Türkiye has been following liberal trade policies in an attempt to overcome instabilities in its economy since 24 January 1980. In particular, the long-term, including, the 1994, 2001, 2018 currency crises in Türkiye, the 1997 Asia, the 2007-2009 global financial crisis, and the 2020-2022 Covid 19 global recession, further increases significance of the analysis. This article specifically explores the effects of neo-liberal trade policies on Türkiye and its primary export market, the OECD countries. In particular, the impact of changes in the OECD Countries’ GDP on Turkish exports is analyzed in relation to the Terms of Trade (TOT) and foreign exchange (FX) volatility of the Turkish Lira through Auto Regressive Distributed Lag (ARDL) method. The results reveal that Türkiye’s exports follow a statistically significant correlation with OECD’s GDP and FX volatility but not with the TOT for the period between 1982Q1 to 2021Q1. However, the lagged variables evaluated by the ADRL method indicate that five periods of lagging Turkish exports have a statistically significant relationship with two periods of lagging GDP of OECD, and one period of lagging FX, as well as with one period of lagging TOT. This article also offers valuable insights into the impact of exceptional events like COVID-19 pandemic on national economies, thus findings presented in this paper can help governments and policy makers predict potential implications of other extraordinary circumstances or global disasters and make informed decisions to mitigate their impact on the national economy. This is a long term analysis of neoliberal FX policies applied in Türkiye.