Impending Economic Crisis Research Articles

Household Food Insecurity and COVID-19 Social Safety Nets in Cavite, Philippines

The COVID-19 restrictions have caused economic losses that affected food availability and accessibility, thereby compromising people’s lifestyles and putting the already existing poor households into severe food insecurity. As such, national government agencies and local government units in the Philippines provided emergency cash assistance and food aid as safety nets during the pandemic to help vulnerable households cope with the impending economic crisis and to improve food security in the country. This cross-sectional study assesses the association of social safety net programs with household food security (i.e., food secure, consistently food insecure, and newly food insecure) in Cavite province, Philippines. Findings show that being beneficiaries of the Pantawid Pamilyang Pilipino Program and the Social Amelioration Program are associated with being consistently and newly food insecure. Furthermore, households that obtained food from the community pantry, a volunteer-led movement during the height of the COVID-19 pandemic are also associated with food insecurity. On the other hand, the households that were provided with food packs, across different socioeconomic conditions, are not significantly associated with food insecurity. The study also affirms that households most vulnerable to food crises in the context of COVID-19 are those who are consistently food insecure and were already exposed to critical food and dietary deprivations before the onset of the pandemic. There is much to be done to improve the safety net programs in the country. The study results can add information and policy recommendations toward strengthening the services for vulnerable population groups to withstand short- and long-term food system disruptions and eventually build food-resilient households and communities.

The situation of handicrafts and family business in Uzbekistan (on the example of the pandemic period)

This article examines some features of the development of family business and crafts in Uzbekistan in the context of the pandemic, the factors of its development, and socio-economic significance. The article discusses the effective socio-economic mechanisms for increasing employment in the development of family businesses and crafts in the context of the coronavirus pandemic, studied practical advice and recommendations on increasing employment, the occurrence of pandemics in today's conditions, the impact of the impending economic crisis and the problems in the implementation of tasks aimed at the development of small business and private entrepreneurship, and ideas for their solution. The state of potential and level of development of family business and handicrafts in Uzbekistan, its organizational bases are analyzed, and offers on finding a positive solution to the issues of employment are highlighted.

Fighting inequalities in times of pandemic: The role of politicized identities and interdependent self-construal in coping with economic threat.

During the COVID‐19 pandemic, institutions encouraged social isolation and non‐interaction with other people to prevent contagion. Still, the response to an impending economic crisis must be through the collective organization. In this set of pre‐registered studies, we analyse two possible mechanisms of coping with collective economic threats: shared social identity and interdependent self‐construction. We conducted three correlational studies during the pandemic in May–October 2020 (Study 1, N = 363; Study 2, N = 250; Study 3, N = 416). Results show that shared identity at two levels of politicization (i.e., working‐class and 99% identities) and interdependent self‐construal mediated the relationship between collective economic threat, intolerance towards economic inequality and collective actions to reduce it. The results highlight that the collective economic threat can reinforce the sense of community—either through the activation of a politicized collective identity, such as the working class or the 99% or through the activation of an interdependent self—which in turn can trigger greater involvement in the fight against economic inequality. Please refer to the Supplementary Material section to find this article's Community and Social Impact Statement.

CHANGES IN HANDICRAFTS AND FAMILY BUSINESS IN UZBEKISTAN DURING THE PANDEMIC

This article examines some features of the development of family business and crafts in Uzbekistan in the context of the pandemic, the factors of its development and socio-economic significance. The article discusses the effective socio-economic mechanisms for increasing employment in the development of family businesses and crafts in the context of the coronavirus pandemic studied, practical advice and recommendations on increasing employment, the occurrence of pandemics in today’s conditions the impact of the impending economic crisis and the problems in the implementation of tasks aimed at the development of small business and private entrepreneurship, and ideas for their solution.

Perspectives of China's Belt and Road Initiative in the post-epidemic period

The article presents the factors of influence of coronavirus on the «Belt and road» initiative and economic consequences for the participating countries from Central Asia. Systematic, comparative method and scenario method were selected as research methods. The coronavirus epidemic and the impending economic crisis will affect relations between Central Asian countries. They will not have a completely new reality, but existing trends will accelerate dramatically. In this situation, the economy and technological development of the Central Asian countries will become increasingly dependent on China, which will also affect other areas of cooperation. The article points out problematic issues in the further development of economic corridors, as well as the positive and negative consequences of the pandemic, the reasons for revising the pace and scale of infrastructure projects. Perspective directions of further development of this initiative in political and economic aspects are considered. The coronavirus and its consequences are likely to force the Central Asian countries and China to move closer together much more rapidly. The research objectives are to investigate how the crisis of the coronavirus affects the economy of China and its part, related to the initiative; the impact of the COVID-19 pandemic on Central Asia, its economic, social and political situation; as well as how in recent times the policy of China in the region has changed. But despite some negative consequences, in the short term, Central Asian countries have no choice but to become even closer to China.

Social economic aspects of COVID-19 Pandemic – a brief summary

The COVID-19 pandemic has resulted in over millions confirmed cases and over hundred thousand of deaths globally. It has brought difficult situations for citizens of nations across the world, and have sparked fears of an impending economic crisis and recession. Policy markers and public managers worldwide are put on the test on their crisis management capability. This paper is the summary that I presented in The Fourth Conference on Sustainability Science organized by the Center for Environment and Sustainability Science, University of Padjadjaran (UNPAD) on 8th October, 2020. In this paper, the responses and impacts of COVID-19 pandemic of Asian and African countries will be introduced. Learning from these experiences, we seek for hints that would be needed for the sustainable recovery of the Post Pandemic COVID-19 global society.

The Ability of Selected European Countries to Face the Impending Economic Crisis Caused by COVID-19 in the Context of the Global Economic Crisis of 2008

This paper is devoted to the ability of selected European countries to face the potential economic crisis caused by COVID-19. Just as other pandemics in the past (e.g., SARS, Spanish influenza, etc.) have had negative economic effects on countries, the current COVID-19 pandemic is causing the beginning of another economic crisis where countries need to take measures to mitigate the economic effects. In our analysis, we focus on the impact of selected indicators on the GDP of European countries using a linear panel regression to identify significant indicators to set appropriate policies to eliminate potential negative consequences on economic growth due to the current recession. The European countries are divided into four groups according to the measures they took in the fiscal consolidation of the last economic crisis of 2008. In the analysis, we observed how the economic crisis influences GDP, country indebtedness, deficit, tax collection, interest rates, and the consumer confidence index. Our findings include that corporate income tax recorded the biggest decline among other tax collections. The interest rate grew in the group of countries most at risk from the economic crisis, while the interest rate fell in the group of countries that seemed to be safe for investors. The consumer confidence index can be considered interesting, as it fell sharply in the group of countries affected only minimally by the crisis (Switzerland, Finland).

Regional Budgets: Results of 2019, Prospects for 2020

In 2019 the regional budgets revenues grew at a high rate, including due to the outpacing growth of Federal transfers under the condition of the economic recession. Corporate income tax, personal income tax and excise tax receipts provided the growth of own income, while property tax receipts decreased. The growth rate of regional budget expenditures was significantly faster than the growth rate of revenues. The priorities of the subjects of the Russian Federation were healthcare and the national economy. High growth rates of expenditures did not always lead to an increase in the volume of public debt – its total amount decreased by the end of the year. Only in some regions of the Russian Federation there was a significant increase in the amount of debt. Estimates of possible budget revenue losses that regions will inevitably face in the context of the impending economic crisis allow us to identify a group of Russian regions for which these problems will be most acute.

The socio-economic implications of the coronavirus pandemic (COVID-19): A review.

The COVID-19 pandemic has resulted in over 4.3 million confirmed cases and over 290,000 deaths globally. It has also sparked fears of an impending economic crisis and recession. Social distancing, self-isolation and travel restrictions have lead to a reduced workforce across all economic sectors and caused many jobs to be lost. Schools have closed down, and the need for commodities and manufactured products has decreased. In contrast, the need for medical supplies has significantly increased. The food sector is also facing increased demand due to panic-buying and stockpiling of food products. In response to this global outbreak, we summarise the socio-economic effects of COVID-19 on individual aspects of the world economy.

МЕТОД ОЦЕНКИ ПОСТАВЩИКОВ УСЛУГ В ИНТЕРЕСАХ ПРОМЫШЛЕННОЙ ОРГАНИЗАЦИИ

In the context of the impending economic crisis, the issue of choosing a service provider by high-tech organizations is becoming significant. To solve this issue, the article proposes an author's method of evaluating service providers, which can find practical application in the activities of modern high-tech organizations. The approach proposed by the authors allows the selection of service providers based on a number of criteria confirming the reliability and competence of the provider.

The consequences of China's impending economic crisis on global economy

The main objective of this paper is to predict the consequences of China's impending economic crisis on global economy – with reference to Sub-Saharan Africa (SSA) in particular. The specific objective of this paper is to investigate and explore the increasing dominance of economic practice of China in SSA. China is a critical principal player in the economy of SSA. China's influence and dominance of the SSA economy might have negative effect on SSA in case of any implosion of the Chinese economy. Data were collected from print and electronic sources extracted from the vast body of empirical scholarship of different disciplines on China in SSA. The results of this paper revealed that China is indeed dominating the economy in SSA. Pointers are that China's economic implosion would have consequences for SSA in the same way as the 2008-2009 global economic recession had around the world. This paper positively predicts that China's economic and financial implosion remains a possibility, and would impact on SSA.

The World - Socio-economically and politically: What you need to know

The gravest challenge facing the USA and the nations of the world is the coming economic crisis of the world economies, if present policies are pursued. Few are aware or believe that this event could happen. The spread of centralized government control of the economies, the growth of the welfare state worldwide, the expenditures on entitlements beyond what any nation or even most states can afford, the cost of wars, the rapidly climbing debt of the USA and other countries and their inability to pay for these excessive expenses, the actions of many countries to print “fiat” (false) money to pay for their debts, the raising of taxes to pay for these debts, the rise in immigration to developed countries from the undeveloped world, the associated costs to their societies of this immigration, the promises made by politicians to get elected that cannot be fulfilled, and the desire of the public to have what they want, now, paid for by credit cards (debt), are all contributing to the coming economic crisis.The unfunded promised benefits to the citizens of the USA in Medicare, Medicaid, Social Security, and pensions plus the USA debt amount to about $140 trillion. The total value of all the assets of all the people in the USA is $99 trillion dollars. So, one can see that the people of the USA do not have the resources to pay their expenses. Besides, these entitlements, the rest of the expenses are paid for with borrowed or printed (fiat) money that has little chance of being repaid unless perhaps by subsequent generations or by increases in taxes. Efforts to correct this coming economic crisis by austerity and sacrifice have been rejected by the public and the politicians worldwide. The Governments and the Press have participated in deception of the public about these issues in order to maintain their positions of power, for the truth would destroy them. No solution is in sight except more spending and valueless money printing.This unchecked desire for more of everything without the responsibility to work or pay for these entitlements, has touched many countries and people with a few exceptions. This problem is the result of a worldwide breakdown of ethics and morality in society and a desire of the few for centralized control and power over the people. No country has instituted a solution to these problems that results in reducing expenditures or the growing debts. As many have stated in this paper, this policy cannot be sustained. The result of this scenario will be a worldwide economic crisis.Fundamental to this impending economic crisis is the failure of centrally controlled economies and socialistic programs. Those selected groups, who benefit from having control, are the politicians, bankers, some selected industry leaders, and socialist planners, who will stop at nothing to maintain power and control over the people. Liberty of the people is in jeopardy worldwide. Read the evidence presented and decide if this summary is correct.The troubling question is, “What will happen if the world economy collapses?” Will this crisis be a time for the few to take more control of the people through fear, crisis decisions, misinformation, prevention of the public from protecting themselves with guns, and pervasive spying technology on each citizen or will more democratic governments arise from the failure of centralized control, the welfare state, and the loss of liberty? Such crises have been repeated throughout 4000 years of recorded history. What happened in those past times? Read the quotations of Vladimir Lenin, developer of Marxism–Leninism, the foundation of Communism and judge what you have read from his statements.An alternative to this dismal scenario is little discussed also in the Press. Why not? In the past 150 years, the alternative has happened with a rapid growth in democracy, communications technology, and life expectancy from advances in science and medicine. To unleash this huge human potential, at this time, will require individual freedom to create and innovate with the opportunity for risk and reward in an environment aided by unrestrictive governments even at the community and organizational levels. History records the success of the alternatives in the great leadership and creativity of humankind. The USA and the world are at the critical choice for their futures. We are experiencing the results of centrally controlling governments worldwide that are not working. Is it time for an alternative option? Read the evidence in this paper and decide for yourself.Reading this paper will take you time, but you will not read all of this information elsewhere. It is key to your future. Decide for yourself what you should do after reading it. The URLs of many of the references are included so that you can read further about the many subjects presented yourself.

Assessing the Impact of Indonesian Social Safety Net Programmes on Household Welfare and Poverty Dynamics

In early 1998 the government of Indonesia established several social safety net programmes to help the poor and the newly poor cope with the impact of the impending economic crisis, covering food security, employment creation, education, health, and community empowerment. This article evaluates the impact of these programmes on household welfare and poverty, utilising a panel data set of over 10,000 households which were visited four times in a 14-month period. The impact of participation in the social safety net programmes on household consumption is found to be generally positive. However, only the subsidised rice programme appears to have significantly reduced the risk of poverty among participating households. Au debut de l'annee 1998, le gouvernement indonesien etablit plusieurs programmes de protection sociale pour aider les pauvres et les nouveaux pauvres a faire face aux consequences de la crise imminente, programmes qui couvrent la securite alimentaire, la creation d'emplois, l'education, la sant...