Negative Economic Consequences Research Articles

The Financial Inclusion Question in Zimbabwe’s Post-COVID -19, New Normal: Implications for Adoption of Financial Technology (FinTech) on Service Providers

Financial inclusion will be accelerated by the technological opportunities for online financial transactions brought forth by the COVID-19 outbreak. As a result, because there were fewer digital financial transactions, the threats to COVID-19 that were present previously are now more substantial. The aim of this article is to assess the dangers, challenges, and opportunities for financial inclusion brought forth by the use of technology by COVID-19. According to the article, the inherent characteristics of financial technology (FinTech) in connection to financial inclusion allow it to reduce the negative economic and social effects of the ongoing COVID-19 situation. Under COVID-19, the introduction of digital financial transactions has sped up corporate operations and cut expense on doing business. As a result, women now have greater access to transactions involving financial technology (FinTech). The growth of digital financial transactions has made contactless and cashless purchases possible throughout the COVID-19 crisis. The expansion of digital financial inclusion makes it easier to swiftly and effectively implement public assistance programs, such as those for epidemic-affected women. Financial inclusion is being boosted by digital finance, which may eventually replace or improve traditional banking institutions. Working from home has undergone a "revolution" in a number of industries during COVID-19, including banking. Businesses should identify the optimal operating model mix for the future and make sure they have the infrastructure to support widespread, mass flexible working. This calls for reevaluating the function and application of corporate real estate. Since the labor force is likely to become more automated at the same time, resilience is essential. Conceptual Framework of this study is based on the financial inclusion and FinTech concepts which are the main variables guiding the study and it is underpinned by the theories of diffusion of innovation and the Financial Intermediation.

Analysing forced migration’s impact on Ukraine’s economic sustainability

Purpose. To characterize consequences of forced migration from Ukraine to European countries, quantifying its impact on economic growth, the number, income of the economically active population, investment and industry of Ukraine, and to develop recommendations for overcoming the negative economic effect of migration. Methodology. The methods of analysis and synthesis, scientific abstraction, statistical analysis, economic and mathematical modeling, and graphical analysis were used. Findings. The article studies the factors that caused forced migration from Ukraine’s to European countries as well as the main differences in migration processes provoked by Russia’s war against Ukraine are substantiated. The economic effects and consequences of its impact on the Ukrainian economy are analyzed. The study is based on statistical data characterizing economic growth (GDP) and the factors that determine it (capital investment, economically active population). On the basis of the Cobb-Douglas production function with neutral scientific and technological progress or Hicks scientific and technological progress and the use of linear regression analysis methods, the relationship between changes in the number of economically active population and economic growth is established. Originality. A forecast of changes in GDP under the influence of forced migration of the economically active population of Ukraine in 2023 is calculated and three main scenarios of GDP dynamics are developed in accordance with these forecasts. Each of them envisages a significant drop in output under the influence of migration. Practical value. The article proposes ways to address the problem of forced migration in Ukraine’s economy and the consequences of its negative impact on sustainable development based on the experience of European countries. Ways to restore industry and attract investments to Ukraine are substantiated.

Examining Complexities of Artisanal and Small-Scale Gold Mining on Buru Island, Maluku Province, Indonesia

The Artisanal and Small-scale Gold Mining (ASGM) sector is presently one of the largest global sources of anthropogenic mercury emissions. The risk of mercury pollution from ASGM in Indonesia challenges other important industries including fisheries and tourism. Environmental degradation and risks to food safety and human health are major concerns that have been realised at local scales, including on Buru Island, Indonesia. Since the discovery of gold on Buru Island in 2011 the community has undergone dramatic changes. Some of these, such as rapid wealth accumulation, have been of benefit to people involved in the industry, however, they have been marred by negative social and economic consequences including rapid inflation, reduced rice production, and changes to the social fabric. We explore the Buru Island example through over 12 years of research interest and using empirical material through a socio-legal lens. Various legislative changes and government interventions have occurred since 2011 and there are complex interactions between industry players. Currently, the mining is low key with ore being transported to ‘back yard’ processing operations while a permitting system is anticipated. There is a legacy of land degradation and contamination as a result of the mining and ore processing. Alternatives to mercury are being considered but are challenged by uncertainty about product effectiveness, potential toxicity, and a lack of processing knowledge.

It’s not (only) personal, it’s business: personal bankruptcy exemptions and business credit

Abstract In the USA, state-level exemptions determine the amount of property that individuals can protect from creditor liquidation during the debt settlement process. We exploit within-metropolitan statistical area variation in personal bankruptcy exemptions created by state borders and a stacked regression approach to identify the spillover effects of these laws on business credit extended to small firms. Subsequent to exemption increases, we find a reduction of 1–2 percent in originations of business credit. The effect is strongest for the smallest firms, which are more financially constrained. We provide household-level evidence that both business debt and personal debt decline for borrowers whose home equity becomes covered by the exemption, suggesting an overall decrease in credit availability for small businesses. As a result, increases in exemptions lead to fewer small establishments and lower employment, especially in industries dependent on external finance, suggesting that negative real economic effects occur via a credit market channel.

The good, the bad and the evil: A unified conceptualization of negative leadership behaviour

AbstractThe level of scholarly and practitioner interest in negative leadership behaviour has been increasing, but research in this field remains fragmented, and we lack a common understanding of what constitutes negative leadership behaviour and its antecedents, consequences and contexts. To address these research gaps, we systematically review 352 papers and identify 25 different negative leadership behaviours with large overlaps in their conceptualization and operationalization. Our analysis of conceptualizations reveals common attributes that constitute the behavioural intensity and the behavioural valence of negative leadership behaviour. Behavioural intensity attributes constitute negative leadership behaviour as active, reoccurring and intentional behaviour that targets subordinates’ psychological states. Behavioural valence attributes constitute negative leadership behaviour as being unethical, lack of empathy, leader self‐worthiness and self‐orientation, verbal hostility, use of power asymmetry and harming and belittling of others. The vast majority of operationalizations for negative leadership behaviour reflect the perceptions of subordinates or colleagues, whereas only a few operationalizations reflect supervisors’ self‐assessments. Our findings further reveal that the antecedents of negative leadership behaviour focus mainly on supervisors, whereas the consequences of negative leadership behaviour focus mainly on subordinates. We develop a unified conceptualization of negative leadership behaviour and discuss our findings in the light of an impactful future research agenda that revolves around the unified conceptualization and empirical representation of negative leadership behaviour on the basis of behavioural attributes, the role of subordinates and dyad‐related factors leading to negative leadership behaviour and the integration of the negative and positive psychological and economic consequences of negative leadership behaviour.

What happens when tourism is turned off: Exploring the outcomes of the COVID-19 pandemic travel restrictions for Indigenous people in Rarotonga, The Cook Islands

The sea, sand, and sun allure of the Cook Islands has seen tourism become the most significant driver of the country's economic development. However, the increasing reliance on the tourism sector since the 1980's has created a mono-economy at the expense of diversification and alternative economic models. The COVID-19 pandemic emphasized the risks and consequences associated with an over- reliance on international tourism as the lockdown measures and international travel restrictions caused the sudden shutdown of international tourism, resulting in serious negative economic consequences for tourism-dependent communities. However, the pandemic also offered an opportunity for small island societies to reflect on pre-existing challenges associated with the tourism industry. Through qualitative semi-structured interviews with Indigenous Cook Islanders in Rarotonga, this study aimed to develop a deeper understanding of how the lived experiences of participants responding to the sudden collapse of tourism may have influenced how Indigenous Cook Islands peoples perceive the role of tourism in supporting the wellbeing of their small island nation. The presented study is the result of a collaborative research partnership between an Indigenous Pacific scholar and non-Indigenous European scholar. While the research adopted a western methodology, the relationships developed between the researchers and participants were guided by the cultural values of reciprocity and respect, which are key principles underpinning Indigenous research in the Pacific. The findings revealed that participants adapted to the adverse impacts of COVID-19 through the revitalization of their traditional socio-economies, the resurgence of customary practices, a strengthened connection to nature, and a renewed sense of community spirit and pride in cultural identity—all of which were perceived to positively impact their spiritual, social, cultural, environmental, physical, and mental wellbeing. By demonstrating the positive adaptive responses of participants, this article aims to emphasize the non-economic dimensions of wellbeing that are critical to supporting the cultural values, social priorities, and the Indigenous ways of life that preceded the development of tourism. These findings can be used to inform and guide international development policy makers and tourism stakeholders who seek to reduce the adverse impacts of tourism on the wellbeing of Indigenous communities in the Pacific.

Economic impact of large earthquakes: lessons from residential property values

Abstract Understanding how economic agents respond to seismic shocks in a developing country setting is crucial to evaluating the economic costs of natural disasters. This article makes use of the quasi-random spatial and temporal nature of ground tremors to estimate the economic impact of the April 2015 earthquake on residential property values in Nepal. Regression estimates from the difference-in-differences research design show that residential property values declined by about 40.52 percentage points in areas with high seismic intensity. The event study model illustrates that these negative economic effects are more pronounced between 12 and 24 months after the incidence of the earthquake. Findings further underscore the underlying mechanism of physical damage and indicate that residential properties with weaker outer walls, foundations and roof materials became more susceptible to the earthquake.

‘Just because I’m smiling doesn’t mean I’m not in pain’: navigating the layered stigma of chronic pain and suicidality in social worlds

ABSTRACT This article aims to provide an illustrated account of layered stigmatisation processes and consequences for those who experience chronic pain and accompanying suicidality. Using constructivist grounded theory, I draw from 20 in-depth interviews conducted from 2022 to 2023 to explore how chronic pain and suicidality operate within people’s social worlds. Findings demonstrate how layered stigmatising processes, occurring based on chronic pain and suicidality, operate consistently across multiple social arenas to create interactional troubles, which result in enduring negative social, emotional, and financial impacts. Three themes were constructed, including (1) self-stigma and the multiple roles of the family, (2) missed connections, and (3) anticipated stigma and workplace discrimination. Taken together, themes support the overarching category, ‘interactional troubles’. Findings suggest a need for attunement to stigmatising processes’ omnipresence and the depth of their consequences. Clinical interventions may benefit from emphasizing participants’ social worlds and incorporating the complexity of navigating social arenas given layered stigmatisation. Moreover, policies that support those with chronic pain and mental illness could offset the long-term negative economic consequences of discrimination.

ESG greenwashing and corporate debt financing costs

This paper empirically examines the impact of ESG "greenwashing" on corporate bond costs in China's capital market, focusing on non-financial listed companies. The study results indicate that corporate ESG "greenwashing" can lead to negative economic consequences, resulting in an increase in corporate debt financing costs. Further analysis shows that this effect is mainly concentrated in non-state-owned enterprises and small-scale enterprises.

Dynamic Line Rating for Congestion Management in Distribution Network

The growth of the demand because of the electrification of the heating system and the popularization of the use of electric vehicles added to an increase on the renewable energies generation connected to the distribution level, are responsible for an increase in the use of distribution network. This may lead to more congestions at this level that up to the date, are solved with direct switching actions which implies a negative economic impact and consequences for consumers and producers. Congestions can be solved also with market-based demand response which need the system to have flexibility to be applied effectively. On transmission network the usage of dynamic line rating (DLR) is more extended but on the distribution level, it is not common. This paper aims to show the use of DLR to provide flexibility to the distribution network, easing congestion management.

A Sustainable Approach Towards Prevention and Treatment of Hepatic and Other Disorders Associated with Alcohol Consumption

Background: Alcohol has been used for centuries in many different civilizations. It is a psychoactive stimulant with addictive properties. Alcohol misuse has significant negative social, economic, and health effects. Abusing alcohol can cause harm to oneself as well as to relatives, coworkers, close companions, and total strangers. Alcohol usage contributes to more than 200 diseases, accidents, and other health problems. Drinking alcohol is associated with a higher chance of developing significant non-communicable illnesses such liver cirrhosis, a number of cancers, cardiovascular diseases, as well as behavioral and mental disorders like alcoholism. Objective: Abuse of alcohol does not occur suddenly. People becoming addicted to various alcoholic beverages is a problem that results from months and years of irresponsible drinking. The process of recovering from the issue in turn includes targeted, particular methods for raising awareness of the negative effects of alcohol usage. Conclusion: Due to the heightened risks for one's bodily and mental health along with the social issues it generates, alcohol consumption results in these costs. We discuss the three areas of the epidemiology of alcohol's impact on health and diseases, the public health approach for treating problems related to alcohol use,and advancements in alcohol science.

Digital Currencies in Light of Artificial Intelligence, Effects and Negatives: Iraq is An Example

The digital monetary system in the modern era is based on money. It occupies a leading position in economic studies and in all current economic transactions. It is a digital cash system, an advanced system for electronic money that was invented by unknown parties in 2008. The main goal behind its invention was to get rid of the capitalist system and the official authorities’ control over the issuance of digital currencies and to come up with a new technology that, with its technological confidence, replaces the role of control and supervision in central banks, that is, in light of artificial intelligence. Dealing with it has been banned in Iraq because it leaves effects and problems on the economic level that cannot be easily overcome. This topic was addressed through two sections. The first dealt with research into encrypted digital currencies in terms of their economic nature, while we devoted the second section to researching and clarifying how to invest in them and their negative and positive economic effects digital currencies electronic money, artificial intelligence.

“I lived but I wasn’t alive”: Examining responses of formal systems to child sexual abuse as described in survivors’ testimonies to the Israeli Independent Public Inquiry

Child sexual abuse (CSA) is a prominent global issue with a multitude of negative health, social, and economic consequences. However, this abuse is often under-reported and misunderstood, alongside faults within the systems built to support CSA survivors. There has been a global effort to establish CSA inquiries investigating past incidents of CSA, using the findings to inform and reform policy and practice and pursue justice for CSA survivors. In 2020, The Israeli Independent Public Inquiry into Child Sexual Abuse was founded, collecting 505 rich, diverse, and informative testimonies from adult survivors of CSA in Israel. The current study analyzes the 505 testimonies to explore the ways formal systems of support in Israel responded to CSA survivors and how these responses impacted survivors. Inductive thematic analysis was performed, yielding three main themes: 1) displays of how formal systems failed to respond to CSA, 2) mechanisms behind the failures of formal systems in their responses to CSA, and 3) consequences of the failures of formal systems to respond to CSA. This study demonstrates the tremendous impact formal systems’ responses can have on survivors, underscoring the urgent need for a systematic change in how CSA survivors are treated. Current systems have led to the violation of children’s rights, re-traumatization of survivors, and even discouraged survivors from seeking help after abuse. This study concludes that many adaptations must be made to formal systems’ current responses to CSA in Israel to improve support for CSA survivors, advance child protection, and recognize the unique needs of minority communities.

Impact of the Balkan Wars (1912/13) on the Societies in South Slavic Lands of Austria-Hungary

This paper discusses the immediate consequences that the Balkan Wars (1912-1913) had on the societies in the South Slavic lands of Austria-Hungary. It represents an attempt to summarize the previous results of research on various issues related to the consequences of the Balkan Wars in these lands individually. The focus was on finding common characteristics, as well as peculiarities regarding the impact of the wars on societies in the Slavic south of the Monarchy. In this sense, the focus of attention was on the national question, the political scene, the way of governing, and the economy. It stands out that the Balkan Wars were the spark that ignited the flame of nationalism in the south of the Monarchy, within the framework of the Yugoslav question. Foreshadowing a new era, these wars were for some an indication of the inevitability of reforming the Monarchy in a direction that would ensure a more favourable position for its Yugoslavs, and for others even an indication of its imminent destruction and Yugoslav unification on a broader basis. At the same time, the wars caused new or deepened existing crises in the lands to the south of the Monarchy, serving as an excuse for its authorities to introduce emergency measures or tighten existing restrictions. While in most of the South Slavic lands, the Austro-Hungarian government faced the united front of those forces that openly expressed their support for the Balkan allies, in Bosnia it greatly benefited from the growing political rift between the two dominant national communities and their political representatives. The wars left negative economic consequences in all lands, and by creating new circumstances, they enabled a different approach to solving the agrarian issue in Bosnia.

Job insecurity amid the COVID-19 pandemic and beyond: a systematic review and research agenda

PurposeThe catastrophic effects of the COVID-19 pandemic have considerably impacted the labour market and increased job insecurity among workers. This study systematically reviews the literature on job insecurity conducted in the context of the COVID-19 pandemic with three key objectives. First, to identify the key antecedents of job insecurity during the pandemic. Second, to identify the outcomes associated with job insecurity during the pandemic. Third, to identify the underlying boundary conditions that strengthened or alleviated the association between the antecedents of job insecurity and its associated outcomes.Design/methodology/approachThe study followed PRISMA 2020 guidelines for the selection and inclusion of scientific literature by systematically searching five electronic databases, namely, Scopus, ScienceDirect, PubMed, Web of Science and Psych Info.FindingsA perception of health-related risks, negative economic consequences and organizational restructuring during the pandemic were the primary factors contributing to job insecurity among workers. The consequences encompassed detrimental impacts on health and well-being, proactive measures undertaken by employees to alleviate the threat of job loss, and a variety of tactics employed to cope with stress arising from job insecurity. The boundary conditions elucidate the factors that alleviated job insecurity among workers and influenced both their work and non-work outcomes.Originality/valueThis is the first systematic review summarizing the literature on employees' experiences with job insecurity amid the COVID-19 pandemic. Based on a systematic review, this study provides doable steps that HR managers can take to effectively manage job insecurity among workers, particularly during a crisis.

Is temperature adversely related to economic development? Evidence on the short-run and the long-run links from sub-national data

We examine the effect of rising temperatures on regional economic development, using annual sub-national data for over 1500 regions in 152 countries between 1990 and 2017. In a panel setting with region- and country-year fixed effects, we find no evidence of a homogeneous or heterogeneous effect of rising temperatures on economic development as measured by regional per capita income. Additionally, we find no non-linear relationship between temperature and economic development. We also employ a long-difference approach that is attuned to exploring the long-run relationship between rising temperatures and regional income. Results indicate that rising temperatures have a negative long-run impact on regional per capita income for a minority of regions located in countries with weak economic, legal and political institutions. Furthermore, these vulnerable regions experience a decline in long-term population and human capital development. The use of alternative regional per capita GDP data from 1950 onwards yields similar empirical results. Our findings suggest that negative economic effects of temperature increase with time, only becoming apparent in the long run for regions in already disadvantaged countries. Thus, country-specific conditions may moderate regional economic vulnerability to future temperature increases due to global climate change.

The Coal Phase-Out in Germany and Its Regional Impact on Economic Worries

Market-driven closures of coal mines have typically been associated with negative economic consequences for the affected regions. In Germany, structural policy directed towards ameliorating the negative effects of hard coal decline in the Ruhr area lagged behind the onset of decline, caused major political conflicts, and has been variously criticized for its reactive character that failed to generate a positive image of the future. The phase-out of lignite coal in Germany, in contrast, is policy-driven and accompanied from the outset by compensatory and investment policies that strive to facilitate regional structural change proactively. Against this backdrop, we investigate how the policies of lignite coal phase-out initiated in 2018 and the accompanying public discourse affect the economic worries of individuals in the remaining three lignite coal mining areas in Germany. We focus on the period 2016–2021, using a longitudinal multilevel design based on regional and individual data from the German Socio-Economic Panel (GSOEP). Overall, probabilities of strong economic worries decrease throughout the observed period. Results show that subjective economic worries do not significantly differ between residents of lignite mining regions and those in the rest of the country. Further robustness analyses confirm that the coal phase-out policy has not increased economic uncertainties in the populations of German lignite mining regions. Based on our results, we discuss the need for future research on the effects of policy designs of clean energy transitions on subjective perceptions of the future.

The Causes and Consequences of Public Misunderstanding of Shark Conservation.

Sharks and their relatives face serious conservation challenges. In addition to more effective implementation of regulations already on the books, they need more and stronger conservation and management policies to prevent the extinction of many species, which would have associated negative ecological and economic consequences. Many members of the public are aware of and concerned by shark conservation challenges, but there is widespread misunderstanding of the threats to sharks and the available policy solutions to address those threats. Such misunderstanding has been spread by both well-intentioned but uninformed shark enthusiasts (i.e., people who care and want to help but have limited or incorrect knowledge of key facts and evidence) and also by extremist activist organizations (i.e., those far outside of mainstream norms). Specifically, many members of the public incorrectly believe that the practice of shark finning (and associated demand for shark fins) is the largest or only threat to sharks. In general, the public is far less familiar with widely used and effective tools such as sustainable fisheries management as a solution to shark conservation threats. Many members of the public incorrectly believe that banning the 1% of the global shark fin trade that is the most sustainable will be a major victory for shark conservation. Many members of the public are heavily influenced by information from uninformed extremists rather than from experts. These misunderstandings result in suboptimal policy outcomes, and even conflict between stakeholder groups that ostensibly share goals or desired outcomes. This perspective summarizes a decade of work attempting to understand the causes and consequences of widespread misunderstanding about shark conservation threats and solutions, mapping each along the Science-Policy Interface. It also proposes solutions focusing on sharing our hard-earned expertise with the interested public in an accessible format.

Bovine Digital Dermatitis: Treponema spp. on trimming equipment and chutes – effect of washing and disinfection

BackgroundDigital dermatitis (DD) is a contagious bovine foot disease causing reduced animal welfare and negative economic consequences for the farmer. Treponema spp. are the most important causative agents. Studies indicate that trimming equipment can transfer DD-associated treponemes between cows. The aim of this observational study in 22 DD-positive Norwegian dairy herds was to investigate the risk of transferring Treponema spp. with trimming equipment and chutes after claw trimming, and after washing and disinfection. Swabs from the trimming equipment and chutes were collected from nine different locations, at five different time points. Bacterial DNA was extracted from 647 swabs and analysed by qPCR for Treponema spp. In addition, 172 swabs taken immediately after trimming, were analysed by a multiplex qPCR targeting T. phagedenis, T. pedis and T. medium/vincentii. Biopsy sampling from DD lesions was performed on cows in the same herds during trimming. Altogether 109 biopsies were analysed by FISH for confirmation of the DD diagnosis and identification of Treponema phylotypes (PTs).ResultsHigh numbers of Treponema spp. were detected from all nine locations on the trimming equipment and chutes immediately after trimming, and T. phagedenis was detected on two or more locations in all but two herds, 1 and 19. There was a decline in the amount of Treponema spp. after washing and disinfection. The belly belt, the cuff, and the footrest on the chute had the highest proportion of positive samples after disinfection. The belly belt had the highest copy numbers of all nine locations (median = 7.9, max = 545.1). No Treponema spp. was detected on the hoof knives after disinfection. Treponema phagedenis, T. pedis, and Treponema phylotype 3 (T. refringens) were detected by FISH analysis of the biopsies. Treponema phagedenis was detected in biopsies from all herds except 1 and 19.ConclusionThis study shows that DD-associated Treponema spp. were present on the trimming equipment and chutes after trimming cows in DD-positive herds. Washing and disinfection reduced the load of Treponema spp. However, large differences in Treponema spp. between different locations were documented. High copy numbers on the grinder and the chute after disinfection, indicates that sufficient cleaning and disinfection of these locations is difficult, and that passive transfer of DD-associated treponemes (viable or not) is possible.

Economics of rewilding.

Rewilding, a concept often defined as an open-ended approach to ecological restoration that aims to establish self-sustaining ecosystems, has gained much interest in recent conservation science and practice. The economic dimensions of rewilding remain understudied, despite repeated calls for research, and we find that synthetic or programmatic contributions to the scientific literature are still missing. Here, we mined Scopus and Web of Science databases through a systematic review, looking for "rewilding" with various economic terms in the peer-reviewed literature, in the English language. We then screened out a 257 references-rich corpus with 14 variables, including the position of rewilding regarding positive and negative economic effects in specific sectors, and geographical or ecological foci. Our corpus amounts to ca. 40% of recent rewilding literature, with a clear emphasis on European study sites and the economic consequences of rewilding initiatives. Rewilding studies often refer to positive economic impacts on tourism and hunting, e.g., through higher income and employment rates, although very few studies properly quantify these. Conversely, most authors find rewilding harms farming, which is threatened by abandonment and damages by wildlife, raising interest in potential EU subsidy regimes. We highlight the surprising paucity of rewilding literature truly focusing on economics and/or providing detailed quantification-with remarkable exceptions. While rewilding's ecological relevance is no longer in question, demonstrating its economic benefits and sustainability will undoubtedly help scaling up. Thus, we advise rewilders to systematically measure and report investments and outcomes of rewilding initiatives, and to adopt common standards for cost and benefit assessments.