Severe Economic Crisis Research Articles

Newborns during the crisis: Evidence from the 1980s' farm crisis.

The sudden and jumping interest rate in the early 1980s triggered a severe economic crisis in the US agriculture sector. To identify the effects of wealth losses on the health condition of cohorts born in the midst of the crisis, this paper constructs an instrumental variable for wealth by exploiting the geographic variation in crop production and the timing of the shock. This study finds that wealth losses generates long-lasting health impacts for these newborns. A one percent wealth loss leads to an approximately 0.008 and 0.003 percentage point increase in the low and very low birth weight rates, respectively. In addition, cohorts growing up in areas of greater impacts have worse self-reported health condition before age 17 than others. They also have more metabolic-syndrome issues and smoke more regularly than other cohorts in adulthood. Lower expenditures on food and prenatal care might explain the negative health effects on cohorts born during the crisis. The study shows that households in areas with greater wealth losses have more declining expenditures on food at home and prenatal-care doctor visits.

Assessing the relationship between food insecurity and lifestyle behaviors among university students: a comparative study between Lebanon and Germany

BackgroundFood insecurity is a common public health problem in both developed and developing countries. This study aimed to profile food insecurity among university students in a developed country with stable economic circumstances (Germany) and a developing Mediterranean country undergoing a severe economic and financial crisis (Lebanon) and examine the associations between food insecurity and lifestyle behaviors (i.e., physical activity, sleep, and adherence to a healthy eating pattern, such as the Mediterranean diet), stress, and financial well-being.MethodThis online cross-sectional study was conducted between September 2021 and March 2022. Subjects were recruited through social media platforms (Facebook, WhatsApp, Instagram, and personal email) and in-class announcements by several university professors of various majors and from different universities in Lebanon and Germany. The final sample included 547 participants (197 from Lebanon and 350 from Germany).ResultsOur findings showed a higher food insecurity rate in Lebanon compared with Germany (59% versus 33%). In the bivariate analysis, food insecurity was associated with insomnia (r = 0.230; p < 0.001) and stress (r = 0.225; p = 0.001); German university students had higher physical activity (p < 0.001), better diet quality (p < 0.001), and lower adherence to the Mediterranean diet (p < 0001) than Lebanese students. In the multivariable analyses, more stress was related to insomnia (B = 0.178; p < 0.001), while financial well-being was not associated with any of the lifestyle behaviors. Physical activity, insomnia, and Mediterranean diet adherence were not associated with the country or food insecurity (p > 0.05); however, living in Germany was associated with better diet quality (B = -7.85; p < 0.001).ConclusionThe high prevalence of food insecurity reported in this study is alarming, particularly among Lebanese students; German students had better diet quality and higher physical activity but worse adherence to the Mediterranean diet. Moreover, food insecurity was also associated with worse sleep and stress. Further studies are necessary to assess the role of food insecurity as a mediating factor between sociodemographic characteristics and lifestyle behaviors.

Impact of Globalization on Indian Farmers

The agricultural sector is known to be the backbone of the Indian economy with an employment of 60% of the population in various agricultural, horticultural and allied activities. It contributes 18% to the GDP. India is the country which is known as agrarian economy. India entered in the process of globalization by 1991, when there was a severe economic crisis in the country. Indian Agriculture is directly linked with the global market and the focus of the agriculture changed from basic consumption to commercialization. After adoption of globalization in 1991 Indian agriculture growth rate increase but the economy condition of the farmers is not satisfactory because input cost is high and output cost is low

Russia in Latin America: Why support Venezuela in a crisis?

AbstractRussia has been a powerful ally in Venezuela's complex crisis, having developed political, economic and cultural relations with the Venezuelan state by employing various foreign policy instruments such as mutual support in multilateral fora, foreign aid, loans, commodity trading, military support and cultural diplomacy. What explains this support, despite Venezuela's severe political and economic crisis? Different perspectives have contributed to discussions on shifts in Russian foreign policy towards Latin America since the end of the Cold War. However, studies subscribing to traditional international relations theories have occasionally focused on a single issue or dimension. Such a focus may be problematic when analysing the multifaceted portfolio applied to Russian foreign policy. Based on the Two‐Good Theory approach, its focus on change and maintenance of the status quo, and the concept of substitutability, this research paper elaborates on Russia's foreign policy strategy towards Venezuela to explain policy priorities by examining the alliance with the Venezuelan Maduro regime. Furthermore, the paper highlights the link between the tangible characteristics of energy security and arms sales and intangible aspects, such as cultural diplomacy, which are important explanatory factors of Russian support for Venezuela.

Grænselandsidentiteter – om tilhørsforhold og lokale handlemåder i et postsovjetisk rum

Abstract: Borderland identities – on belonging and local ways of doing things in a post-Soviet placeIn this article we take a closer look at post-Soviet identity and ‘belonging’ within the Indigenous communities in Chukotka, the Russian Far East. During the Soviet era, the Soviet identity was glorified, whereas local ways of life, languages and the ethnic identities of Indigenous peoples were suppressed and stimatized. With the collapse of the Soviet Union in 1991, the entire region sank into a severe economic and ideological crisis, forcing the Indigenous people to return to traditional ways of surviving, stimulating their interest in their ethnic roots, alternative spiritual values and new identities. Based on own empirical material, we analyse facets and practices of belonging among those who identify as Yupik and are related to Inuit in Greenland. Relying on Ortega’s notion of hometactics, we focus on activities – the use of certain words and amulets in homes, consumption of certain foods, and performance of sacred rituals and songs associated with the past – that forge a sense of familiarity and belonging in everyday spaces for the Yupik people, showing how Yupik identity is constructed, enacted, and attributed meaning in interaction and everyday life.

Personality traits and perceived cognitive function in lebanese healthcare professionals

BackgroundThe healthcare field, a well-known field associated with variety of stressors, leaves healthcare professionals at an increased risk of both physical and mental problems. COVID-19 pandemic has recently been added to the stressful factors by endangering further the cognitive function of healthcare workers. On another hand, personality traits have been shown to have pervasive associations with functioning across various cognitive domains. Thus, this study aims to evaluate association between personality traits and perceived cognitive function among healthcare professionals in Lebanon during the collapsing period (following the severe economic crisis and the COVID-19 pandemic).MethodsThis cross-sectional study was conducted between November 2021 and January 2022 enrolled 406 Lebanese participants using the convenience sampling technique for data collection. Healthcare professionals from all specialties who received the online link to the survey were eligible to participate. The Big Five Inventory-2 (BFI-2) and Fact Cog scale were used to assess personality traits and cognitive function.ResultsAfter adjustment over all variables (age, gender, household crowding index, physical activity index, marital status, profession and the other four personality traits), higher negative emotionality was significantly associated with a worse cognitive function, whereas more extroversion and conscientiousness were significantly associated with a better cognitive function.ConclusionOur study adds to the narrow body of research revolving around the relationship between personality traits and perceived cognitive function in Lebanese healthcare professionals during these hard times in Lebanon. These results show that the choice of these cognitive processes is strongly affected by different personality traits, such as extroversion, conscientiousness, and negative emotionality. This study encourages the need to conduct further research that assess the changes in cognition in life stressors along with personality traits.

Discrimination On The Immigrants: Migration Venezuelan To The Colombia

Venezuela is facing a severe economic, political, and social crisis, with acute shortages of food, medicine, and other basic goods. At the same time, large numbers of Venezuelans left the country to migrate, causing Latin America to be hit by a massive migration crisis that never happened before. On the other hand, the Venezuelan population who migrated, especially to Colombia, experienced discrimination. Covid 19 is also making the Venezuelan conditions worsen, along with shortages of food, medicine, and health, as well as access to social services. This research aims to analyze various aspects of the Venezuelan immigrant crisis in recent years. Emphasis is placed on the importance of regional migration issues and the participation of the international community. The research used normative juridical legal research methods. The main points of this research are: a) The main social, economic, and political factors related to the humanitarian crisis, especially discrimination and migration issues in Venezuela; b) Venezuelan Migration and Refugee Issues; c) Response and participation of the international community, with particular emphasis on the activities of the European Union, the United Nations, and Latin America, in particular, Colombia. The results of this research are the discrimination that refugees from Venezuela receive due to the lack of funds they must migrate due to a corrupt government which results in them looking for easy and inexpensive alternatives to flee to other countries.

The impact of COVID-19 on the status of migrant workers: international legal experience

The COVID-19 pandemic has severely curtailed international migration through border closures and forced millions of people to return home to their homelands. The harsh measures taken by the countries of the world to prevent the spread of the COVID-19 pandemic provoked a severe crisis in the world economy and affected all areas of people's daily lives, regardless of their social status and status. The main restrictions affected migration mobility and politics due to the fact that the main goal of states has become the minimization of personal contacts of the population to control the further spread of the virus by closing borders and stopping or reducing transportation by all modes of transport. These actions led to significant changes in global migration processes, as many countries closed their borders without the possibility for migrants and their populations to leave them or return to their homeland. The ineffectiveness of many areas of the economy, where migrants worked, led to mass dismissals and, as a result, to a lack of funds both for returning home and for living in the country of residence.&#x0D; The crisis of the COVID-19 pandemic has highlighted the crucial role that social protection plays in overcoming severe social and economic crises, as well as the importance of introducing a minimum level of social protection for all, including migrant workers.&#x0D; The pandemic and its economic effects carry risks of stigmatization and discrimination against migrant workers in both destination and origin countries. Countries should systematically monitor cases of discrimination and hate speech against migrant workers. The governments of the countries should also take care of systematically informing citizens about the positive aspects of labor migration. For countries, it can be an emphasis on the role of labor migrants in critically important areas, such as agricultural industry, logistics, transport, medicine, and critical services.

The Impact of the Menem Government's Economic Policies on Argentina through a Before-and-after Comparison Method

In the 1980s, Argentina's economy fell into recession, with inflation at 5,000%, persistent government deficits and high debt, and capital outflows exacerbated by Argentina's territorial war with Britain in 1982. In 1989, Carlos Menem (1930-2021), leader of the Argentine Justice Party, was elected president of Argentina. In response to the economic crisis, he vigorously pursued neoliberalism during his tenure, emphasizing less government intervention and encouraging free trade and financial liberalization. During his first term, Argentina's economy grew by leaps and bounds. Because of his economic success, Carlos Menem won the presidential election in 1995. He defeated his rivals by a wide margin and became the first elected president of Argentina. However, in 2001, Argentina was hit by a severe economic crisis. Many scholars believe that Menem's policies were one of the causes of Argentina's economic crisis. Most scholars focus on the economy during Menem's time, but do not consider the impact of Menem's economic policies on Argentina in the post-Menem era. The subject of this paper is the impact of Menem's economic policies on Argentina. This paper will use a before-and-after approach to analyze the impact of economic policies on Argentina. Menem's economic policy was an attempt to get Argentina out of its economic difficulties. Menem's economic policies did not take into account Argentina's own situation; Menem was responsible for the 2001 crisis, but not all of the blame can be placed on Menem. However, Menem's economic policies during this period completely changed the structure of the Argentine economy, with irreversible results. To this day, Argentina is still unable to escape the legacy of Menem's economic policies.

A Prepandemic Nutrition-Sensitive Social Protection Program Has Sustained Benefits for Food Security and Diet Diversity in Myanmar during a Severe Economic Crisis

BackgroundOne-third of preschool children in Myanmar were stunted in 2015–2016, and three-quarters of children 6–23 mo had inadequate diet diversity. In response, a large-scale nutrition-sensitive social protection program was implemented over 2016–2019. In 2020, however, Myanmar’s economy was hit hard by the COVID-19 pandemic and harder still by a military takeover in 2021. ObjectiveThe objective of this study was to examine whether former beneficiaries of this program experienced better food security, food consumption, and diet diversity outcomes in the wake of major economic shocks. MethodsIn a previous cluster-randomized controlled trial conducted over 2016–2019, pregnant women and their children aged <2 y were randomly assigned to either: 1) CASH; 2) CASH + social and behavioral change communication (SBCC); or 3) a control group. Subsamples of these former participants were then resurveyed 10 times from June 2020 to December 2021 during Myanmar’s protracted economic crisis. Randomized treatment exposure was used in a regression analysis to test for postprogram impacts on Food Insecurity Experience Scale indicators, household food consumption, and maternal and child diet diversity. We also examined the impacts on household income as a secondary outcome and potential impact pathway. ResultsBoth intervention arms reported lower food insecurity, more frequent consumption of nutritious foods, and more diverse maternal and child diets compared with households in the control group. However, the improved dietary outcomes were larger for mothers and children exposed to CASH+SBCC compared with CASH, as was their monthly household income. ConclusionsThe findings suggest that a program combining cash transfers with nutrition-related education can yield sustained benefits 1–2 y after the program was completed. This strengthens the evidence to support the expansion and scale-up of nutrition-sensitive social welfare programs to redress chronic malnutrition and enhance nutritional resilience in the face of a severe economic crisis.

Covid-19 and Iran

The global pandemic of covid-19 has struck the world and has grasped the attention of all eminent countries of world by debilitating the health as well as economic status of countries. This has shattered the overall population of world as hundreds of people tasted death and millions are still fighting this battle. Among the most affected countries, Iran is the country where this scourge has accumulated every nook and corner. Consequently, Iranian government has faced severe economic crises which has forced the government to seek heavy loan.

Migrant Self-Selection and Random Shocks: Evidence from the Panic of 1907

We study the impact of the 1907 Panic, the most severe economic crisis before the Great Depression, on the selection of Mexican immigration. We find that migrants were positively selected on height before the crisis. This pattern changed to negative selection during the crisis but returned to positive selection afterward. Adjustments in selection were partially mediated by theenganche, a historical labor-recruiting system that reduced migration costs but only for taller laborers with above-average earnings potential. We document that labor recruiting contributed to maintaining the relatively constant height profile of the migration flow in the short run.

What Moldova Looks Like Today: 31 Years of Independence

The article is devoted to the development of the Republic of Moldova after gaining independence in 1991. Once a developing country with a sustainable economy, where citizens from all over the Soviet Union aspired to go, today it is the poorest country in Europe, with hundreds of its citizens leaving abroad every day, in recent years mainly to the countries of the European Union, in order to feed their families and provide a decent future for their children. It is noted that after the collapse of the USSR, the country faced a severe economic crisis, the consequences of which the country is still experiencing today. The article analyzes the problems the Republic of Moldova is facing today, including a difficult economic situation, a high level of corruption, an unstable political situation in the country, high energy and food prices, a low standard of living, and unemployment. Thus, Moldova turned out to be a state that became dependent on foreign aid. In 2019, the newly elected government set the course for European integration, complicating its relations with Russia. 2022 has become even more challenging for the country, which, in addition to all the economic and political problems, faced the consequences of the conflict in Ukraine, refugees and the problem of increased energy prices.

Entrepreneurial intention of unemployed people and training and financial support for self-employed workers in COVID-19 times

The COVID-19 pandemic has caused a severe economic crisis that led to instability in the labor market, putting at risk the welfare of workers. Some workers fell into unemployment and self-employed workers had to face a partial or total stoppage of their activities. In this framework, unemployed people could find a way out of unemployment in entrepreneurship. As for self-employed workers, they need support to reactive economically. This paper aims to study the entrepreneurial intention of unemployed people and the need of training and financial support of self-employed workers. To do so, Probit models are estimated using a national survey on workers in Ecuador. The results show that the underlying characteristics that motivate the entrepreneurial intention differ across existent unemployed people and COVID-19 unemployed people. COVID-19 unemployed women are more likely to have entrepreneurial intentions than men. Less educated existent unemployed people are more likely to have entrepreneurial intentions than more educated ones. The results regarding the need of support of self-employed people show that people that need financial support also need training support and vice-versa. The COVID-19 affectation on economic sectors has a relevant effect on the need for financial support.

The impact of COVID-19 on audit fees and audit report lag: Evidence from Malaysian Islamic Banks

The world is currently dealing with a severe health, economic, and social crisis brought on by the coronavirus disease of 2019 (COVID-19), which has spread quickly. Globally, the COVID-19 epidemic has already had a significant negative impact on the economy and finances. This study investigates the effect of Pandemic COVID-19 on audit fees, audit quality and audit report lag. This study observes the annual reports of 16 Malaysian Islamic from 2016 to 2020. A panel data analysis is used for hypothesis testing. The study found that Islamic banks in Malaysia needed a longer time to issue audit reports during the Covid-19 crisis than before the crisis. However, audit fees and quality are not affected by the Covid-19 crisis. This study is only on data from Licensed Islamic banks in Malaysia. Therefore, this study cannot be generalised to the entire economy of Malaysia.This study is helpful for future researchers in contributing literature to their study and helpful for policymakers to be better prepared to face the risk of future crises.

Applying Benford's law to detect accounting data manipulation in the pre- and post-financial engineering periods

PurposeLebanon has faced one of the most severe financial and economic crises since the end of 2019. The practices of the Lebanese banks are blamed for dangerously exposing economic agents and precipitating the current financial collapse. This paper examines the patterns of manipulation of the 10 biggest banks before and after implementing the financial engineering mechanism.Design/methodology/approachThe authors apply Benford law for the first and second positions of the reports of condition and income and four out of the six aspects of the CAMELS rating system (Capital Adequacy, Assets Quality, Management expertise, Earnings Strength, Liquidity and Sensitivity to the market) by excluding Management and Sensitivity. The deviations from BL frequencies are tested using Z-statistic and Chi-square tests.FindingsBanks seem to have manipulated their Capital Adequacy, Liquidity and Assets Quality in the pre-financial engineering and considerably in the post-financial engineering periods. Fraudulent manipulations in the banking sector can distort depositors, shareholders and regulating authorities.Research limitations/implicationsThis study has many implications for governmental authorities, commercial banks, depositors, businesses, accounting and auditing firms, and policymakers. The Lebanese government needs to implement corrective fiscal and monetary policies and apply amendments to the bank secrecy and capital control law. The central bank should revamp its organizational structure, improve its disclosure practices and significantly reduce its ties to the government and the political elite.Practical implicationsThe study findings suggest that the central bank should revamp its organizational structure, improve its disclosure practices and significantly reduce its ties to the government and the political elite.Originality/valueThe study is the first to examine the patterns of fraudulent manipulation in the Lebanese banking industry using Benford Law (BL).

A national risk analysis model (NRAM) for the assessment of COVID-19 epidemic.

COVID-19 has caused a critical health concern and severe economic crisis worldwide. With multiple variants, the epidemic has triggered waves of mass transmission for nearly 3 years. In order to coordinate epidemic control and economic development, it is important to support decision-making on precautions or prevention measures based on the risk analysis for different countries. This study proposes a national risk analysis model (NRAM) combining Bayesian network (BN) with other methods. The model is built and applied through three steps. (1) The key factors affecting the epidemic spreading are identified to form the nodes of BN. Then, each node can be assigned state values after data collection and analysis. (2) The model (NRAM) will be built through the determination of the structure and parameters of the network based on some integrated methods. (3) The model will be applied to scenario deduction and sensitivity analysis to support decision-making in the context of COVID-19. Through the comparison with other models, NRAM shows better performance in the assessment of spreading risk at different countries. Moreover, the model reveals that the higher education level and stricter government measures can achieve better epidemic prevention and control effects. This study provides a new insight into the prevention and control of COVID-19 at the national level.

The Indo-China Balance of Power in South Asian Region: A Sri Lankan Perspective

China and India are two states with which Sri Lanka has maintained close relations in the past. These two states have given a lot of support to Sri Lanka in many crisis situations that Sri Lanka has faced in international politics. China is one of the main countries that have helped Sri Lanka from the past until recently. Also, in view of the severe economic crisis in Sri Lanka after Covid-19, India has also given special support to Sri Lanka. Thus, it can be stated that China and India are keen to provide support to Sri Lanka in a very competitive manner. As a result of all these factors, India and China, the two most powerful nations in Asia, are in a furious power struggle over Sri Lanka in the Indian Ocean. That is, the South Asian region is facing a problem of balance of power. The primary goal of this research is to examine Sri Lanka's role in the rivalry in South Asia between China and India. The research objective is ‘what policy Sri Lanka should adhere to when managing its relations with India and China?’. This study's methodology, which is qualitative in nature, depends only on secondary data to gather information. Content analysis was used for data analysis. According to this study, for Sri Lanka, India and China are equally important and China has provided a lot of assistance to Sri Lanka financially. However, in view of the current economic crisis Sri Lanka is facing, China's response to Sri Lanka has become sluggish. Nevertheless, Indian engagement has recently become increasingly crucial for Sri Lanka due to the terrible economic crisis the country is experiencing in the wake of Covid-19. Sri Lanka should, however, maintain a neutral stance in its interactions with the two adversarial nations, India and China.

A study of the socio-economic context and impact of influenza pandemic of 1918–19 on Bihar

The influenza pandemic of 1918–19 wreaked havoc all over the world, and Bihar, where more than a million people died, was no exception. The pandemic became more lethal in Bihar relative to what we know of other states in eastern India. Why did rural mortality surpass urban mortality? How did the pandemic worsen the socio-economic crisis in the years that followed? This study examines the socio-economic context of the pandemic in Bihar at a micro-level and investigates how the pandemic became unbearable for the people due to a severe economic crisis that resulted from the war and failed monsoons, among other factors. It seeks to explain the manner in which factors such as agricultural failure, inflation, high population density and poor health infrastructure resulted in higher rural mortality. It also shows how the loss of the younger generation and forced migration during the pandemic resulted in a lower rate of birth in the years following the pandemic, resulting in a loss of the labour force and worsening of the agrarian crisis.

Pemasaran Produk Kecantikan Melalui Digital Marketing Pada Saat Pandemi Covid 19 (Studi Kasus: UMKM UD. Bungan Jepun)

&#x0D; This study was motivated by the effects of the covid 19 pandemic in which it caused UMKM UD. Bungan Jepun suffered a severe economic crisis. To overcome this, UMKM UD. Bungan Jepun implements digital marketing as a marketing medium for beauty products. This study was aimed to determine the implementation of digital marketing, to find out what are the most dominant variables that affect marketing of beauty product and to find out what digital marketing variables affect the marketing effectiveness of UMKM UD. Bungan Jepun. The number of respondents were obtained using the slovin method from a population of 300 and an error rate of 10% so as to produce 75 respondents. The data analysis method used descriptive statistical analysis, confirmatory factor analysis and hypothesis testing (t). Digital marketing applied by UMKM UD. Bungan Jepun, namely through: Facebook (UD. Bungan Jepun), Instagram (bungan. jepun), Website (Ud. Bungan Jepun), WhatsApp (0813-3779-0279), Shopee (Bungan Jepun UD) and Tokopedia (Ud. Bungan Jepun). The results of descriptive statistical analysis showed that the responses from 75 respondents on average all had a strongly agree rating where the highest value was the Shopee indicator with an average of 4.67 and a standard deviation of 0.671. The results of the confirmatory factor analysis showed that of the 11 indicators of implementing beauty product marketing through digital marketing (Facebook (X1), Instagram (X2), Website (X3), WhatsApp (X4), Shopee (X5), Tokopedia (X6), Attention (Y1), Interest (Y2), Search (Y3), Action (Y4) and Share (Y5)) each form 1 factor. The results of hypothesis testing show that there are 13 variables X (digital marketing) that partially affect the Y variable (marketing effectiveness) and there are 17 X variables (digital marketing) that do not partially affect the Y variable (marketing effectiveness).&#x0D; &#x0D; Keywords: digital marketing, covid 19 pandemic