Severe Economic Crisis Research Articles

Demand without Supply? Populist Attitudes and Voting Behaviour in Post-Bailout Portugal

ABSTRACT Unlike other European nations, Portugal has experienced an absence of relevant populist parties, even if its recent background of severe economic crisis could have been a fertile ground for their advent. To illuminate this apparent contradiction, we look at the demand side of the equation, drawing on survey data to examine the spread, correlates, and potential electoral implications of populist attitudes in Portugal. We show that while individuals with a populist outlook do not share a particular socioeconomic profile, several attitudinal factors are significant predictors of individual-level populism. Furthermore, those with stronger populist attitudes are not more likely to abstain in elections, but rather tend to vote for parties that exhibit some degree of populism in their rhetoric.

The Legal and Socio-Political Context of Urban Sustainability: Experiences from Greece

The aim of this paper is to outline the main legal and socio-political aspects relating to urban sustainability in Greece. This research focuses on the state of play of urban sustainability, as well as on the challenges relating to its implementation, based on an interdisciplinary approach, addressing legal, socio-political, and technical issues. Within this framework, emphasis is placed on Greece, a country that suffered through a long and severe economic crisis, whereby socio-spatial effects harmed a wide range of social groups. In this context, the paper focuses on the normative, jurisprudential, and policy reforms that took place due to and during the economic crisis,with respect to urban planning and land use. Moreover, it sheds light on smart city technologies, which ought to serve people’s needs,especially those in vulnerable social groups,and it emphasises sustainable development, which at risk of being overstretched during an economic crisis. Finally, the paper also analyses the interrelation between urban sustainability and resilience, in the context of the natural disasters that affected Greece. By focusing our research on a southern European country that suffered through a long and painful socio-economic crisis, while also being prone to natural disasters, this research aspires to create a forum for dialogue with other countries facing similar legal and social challenges, and, hence, to engage in a comparative analysis that will help academics and policy makers take a step forward in the examination and implementation of urban sustainability, resilience, and smartness. Keywords: urban sustainability, sustainable development law, human rights cities, urban planning,resilient cities, natural disasters DOI: 10.7176/JLPG/95-09 Publication date: March 31 st 2020

The Coming Coronavirus Crisis: What Can We Learn?

The coronavirus pandemic is bringing with it the prospect of severe financial and economic crises. The article investigates its economic consequences in terms of financial instability, economic recession, lower incomes and policy challenges at the national and European levels. What are some of the lessons that can be learned? This article argues that health is a global public good. Public health and welfare systems are crucial alternatives to the market and universal public health is a key element of an egalitarian policy.

Criminalization Of Adultery During The Covid 19 Pandemic

The purpose of this study is to find out the criminology of adultery perpetrators during the Covid 19 Pandemic. The type of research used is empirical legal research. While sample withdrawal uses purposive sampling and data analysis using qualitative research approaches. The results showed that cases of adultery occur of course triggered by various factors both internal factors and external factors. In the current pandemic period where the majority of people ranging from high economic class to low economic class experience severe economic crisis, primary and secondary needs are difficult to meet to cause feelings of stress and stress that can trigger quarrels in the household, these quarrels can also trigger divorce in households caused by the economy or other actions. In addition, the problem of economic crisis can also trigger adultery were to meet the economy, they commit such unworthy deeds to earn money as well as commercial sex workers. There needs to be increased understanding of the law by law enforcement and the government towards citizens to avoid actions that can harm themselves and others, especially legal counseling to the younger generation.

Key Factors for Project Crowdfunding Success: An Empirical Study

Crowdfunding is a response to the financing problem of innovative projects in an environment of severe economic crisis. Its competitive advantage lies in its independence from banking institutions and the distribution of risk among a certain number of funders. Since its inception, the number of successfully completed projects has grown to a point where it has started to suffer a downturn that puts its sustainability at risk. This study concerns this particular period of downturn, in order to identify attributes that characterize it, and to define behavioral stereotypes that may be associated with new projects. On a wide data set from sufficiently contrasted projects, and through the use data mining techniques, we extracted the most influential factors in determining the success or failure of the projects, that will subsequently be grouped together using clustering techniques. Six groups of projects have been identified, each with their own characteristics that define them, two of them clearly guide the projects to success and another one allows the modification its characteristics to move away from failure. This achieved strategy allows us to estimate which potential group would be the result of a new project.

BUSINESS AND NATIONAL SECURITY – MODERN PERCEPTION OF ADMINISTRATIVE REGULATION

The spring of 2020 was marked by a severe economic crisis caused by the spread of a new coronavirus infection, falling oil prices and the instability of the global economy. In the current situation of imposition of restrictive measures, many entrepreneurs are deprived of the opportunity to provide services or sell goods, and consumers are unable to use and purchase them. The principle of entrepreneurial freedom is being restricted in order to protect the life and health of the population. These circumstances require the State to take relevant legal and economic decisions, including the establishing of a system of business support measures. In the article, the authors recognize the problematic aspects of realization of the principle of entrepreneurial freedom in terms of the pandemic and the use of the administrative coercive measures. Research is carried out on the positions expressed in the scientifi c literature on the collaboration between the State and business, and the tendencies of improvements in the law in the analysed area are being considered. We conclude that the Russian legal system is not prepared for the epidemiological situation caused by the spread of the new virus. This poses a serious threat to national security. In order to eliminate the threat, some recommendations are made. It is stated that the adoption of the Conception of business legislative improvements, including certain provisions of administrative law, could precede the legislative work. A proposal is made to develop, at the level of federal law, clear legal requirements that defi ne the limits on the restriction of freedom of business in the event of a biological hazard.

Foreign experience in ensuring the economic security of the state

The article highlights the experience of foreign countries in ensuring the economic security of the state. The main part of the work is devoted to the analysis of different models of government agencies to ensure the economic security of different countries. In the current conditions in which Ukraine finds itself, such as the severe economic crisis, the coronavirus pandemic, high levels of corruption and others, there is an urgent need for a rational and prompt response by the authorities to such obstacles to stability. Especially today, when due to the pandemic of coronavirus infection, which has caused unfavorable conditions for doing business and normal employment, the issue of mobilization of all economic forces to bring the country out of crisis is relevant. Potentially, such obstacles could significantly weaken Ukraine's economy for many years to come. The authors of the article propose to overcome this problem, to explore foreign models of bodies that provide financial and economic security. Thus, the key subject of research will be various foreign bodies that ensure the economic security of the country and doctrinal sources that cover the improvement of the current model of economic security in Ukraine and the world. Therefore, to ensure the appropriate level of economic security of Ukraine, it is necessary to conduct a comprehensive study of foreign experience in this area in order to attract and implement in national legislation certain ideas that may further positively affect the state of the national economy. The paper pays special attention to the introduction of a single law enforcement body to ensure economic security in Ukraine. Some opinions of legal scholars on the need to introduce such a body and the implementation of foreign experience in Ukraine are given. The authors pay special attention to the experience of the Financial Guard of Italy and the administrative and legal mechanism of its interaction with other public authorities.

Economic Crisis, Poor Governance and the Rise of Populism: The Case of Greece

Whereas across Western Europe, the salience of an emerging cultural cleavage has triggered the rise of right-wing populist parties that focus on immigration, in Greece the salience of the materialist cleavage exacerbated by the country’s severe and protracted economic crisis gave rise to populist forces of both the right and the left.

Die Währungsunion benötigt eine Fiskalunion – aber welche? Eine Analyse der Euro-Reformblockade

Although the euro area looks back at a phase of comprehensive reforms, its fiscal institutions still lack a consistent shape. The article analyses how the competition between two distinct models of a European Fiscal Union (EFU) has created the current reform deadlock. This is the struggle between a centralised EFU with its broad arsenal of new European fiscal instruments that stress the idea of mutual insurance on the one hand, and a decentralised EFU that puts the emphasis on market discipline through sovereign insolvency procedures and national fiscal self-responsibility on the other hand. The article identifies the main camps on both sides of the controversy: The European Commission together with the European Central Bank and high-debt Member States favour a centralised EFU; low-debt Member States such as the countries of the Hanseatic League and Germany push towards a decentralised EFU. This conflict explains why currently substantial Commission euro area reform initiatives are either watered down or completely fail in the Eurogroup. Reform packages that combine key elements of both models could solve the dilemma. However, Member States increasingly lack the mutual trust that is indispensable to achieve such a grand bargain. The new severe economic and fiscal crisis that is caused by the COVID-19 pandemic might now speed up the decisions on the final outline of the EFU.

Efficacy and safety of antivirals for Covid-19: A systematic review and meta-analysis.

Coronavirus disease 2019 (Covid-19) has led to a severe medical, social and economic crisis globally. Use of antivirals has given inconsistent results; thus systematic summaries of available evidence are required for any recommendations for treatment. We conducted a systematic review and meta-analysis on the use of antivirals for Covid-19. The databases we searched were-Medline, Embase, Cochrane CENTRAL and Medrxiv. Title/abstract screening, full-text screening and data abstraction were carried out in duplicate by two researchers. Pooled effect sizes and 95% confidence intervals (CI) were calculated using the Mantel-Haenszel method of random effects for meta-analysis. Twenty studies were found eligible for inclusion: 6 randomized controlled trials, 9 cohort studies and 5 case series. Moderate-quality evidence suggests a likely clinical benefit from the use of remdesivir in improving the number of recoveries (RR 1.18; 95% CI 1.07-1.31; I2 = 0%) and time to recovery in days (median -3.02; 95% CI -4.98 to -1.07; I2 = 97%). A possibility of lower mortality is suggested by low-quality evidence with remdesivir (RR 0.74; 95% CI 0.40-1.37, I2 = 58%). Moderate-quality evidence suggests no certain benefit of using lopinavir/ritonavir for Covid-19 compared to arbidol, lopinavir/ritonavir combined with arbidol or other medications used as controls. Further evidence from randomized controlled trials is required for all antivirals to treat Covid-19. At present, remdesivir seems more promising than other antivirals.

Fiscal Sustainability During the COVID-19 Pandemic

The "Great Lockdown" implemented in response to the COVID-19 pandemic has led to a severe world-wide economic crisis. In euro area countries, sovereign debt-to-GDP ratios are on the rise and reductions in expected fiscal surpluses raise sustainability concerns amongst investors. This paper provides novel estimates of non-linear state-dependent fiscal limits based on Bi (2012) for the five largest euro area countries. Within the DSGE model I build a COVID-19 scenario calibrated to match the decline in real GDP growth forecasts between April and February2020 and the fiscal stimulus packages announced up to the end of March 2020. On average, fiscal space contracts by 58.4 percent of national GDP. In a worst-case scenario fiscal space is 28.6 percent for Italy and 65.9 percent of national GDP for Germany.

Раскол в рядах камбоджийской оппозиции

The article analyses the situation in Cambodia’s oppositional National Rescue Party which was dissolved in 2018. The author shows that there is no unity among opposition members. The split primarily concerns two leaders – Sam Rainsy and Kem Sokha, each of whom pursues his own political agenda. The opposition members are split between supporting Sam Rainsy and Kem Sokha, while some members either intend to or already have formed their own political parties. The segmentation of the opposition prevents its unification within a single structure, which could effectively compete with the ruling Cambodian People’s Party. Meanwhile, the ruling party is itself faced with unprecedented challenges amidst severe economic crisis.

Producers’ cooperative products in short food supply chains: consumers’ response

PurposeThe purpose of this paper is to investigate an innovation concerning a short food supply chain (SFSC) created by a newly established producers’ cooperative in Greece that sells fresh milk to consumers via automatic vending machines; the consumers’ response toward this innovation; and the financial performance of the cooperative.Design/methodology/approachThe case study focused on consumer’s attitudes toward the cooperative’s fresh milk sold by automatic vending machines and the cooperative’s financial performance. A structured questionnaire was answered by 912 consumers in Thessaloniki during 2015 and analyzed using the IBM SPSS STATISTICS program, version 22. Additionally, the cooperative’s financial data (2012–2015) were used in order to calculate its financial performance.FindingsThe authors identified five unique consumer categories according to consumer motive, of which social motives are considered in the sample as the most important. The cooperative’s financial indicators are satisfying, especially taking into consideration the severe economic crisis in Greece over the past years.Research limitations/implicationsIt is difficult to evaluate Thesgala as there exists no similar producer cooperative in SFSCs in Greece. The cooperative is recently established and therefore financial indicators represent a short time period.Practical implicationsProducers, especially small ones in remote or peri-urban areas, can be involved in a SFCS and reach consumers via their cooperatives (or by founding a cooperative). Producer’s cooperatives can include SFSCs in their strategic planning in order to stimulate changes in the food system for the benefit of both producers and consumers.Social implicationsPolicy makers should orient the appropriate policy measures to support SFSCs for the benefit of society as a whole.Originality/valueThe research investigates an SFSC that was created as a producer’s initiative (not a consumer’s) via their cooperative. It advances knowledge of how to initiate changes in the food system.

Increased industry contribution and atmospheric heavy metals from economic recovery in Spain

Ten years ago, Spain was hit by a severe economic crisis (2009–2013), while the economy recovered in 2014. In the present study, the source changes of PM 10 from pre- and post-economic crisis to economic recovery were investigated using receptor model (Positive Matrix Factorization : PMF). PM 10 samples were collected during 2014 at six different sites in Andalusia, located in the southern Spain (1–7° W, 37–39° N). Seven source factors were identified as soil dust (17.9–34.8%), road traffic (12.2–25.9%), industrial emission (1.2–16.6%), oil combustion (0–16.1%), sea salt (5.0–15.7%), secondary nitrate (<0.05–30.4%) and secondary sulfate (4.4–15.1%). The soil dust source had the greatest influence on these six stations, followed by the road traffic source. The area was seriously affected by industrial pollution, even to the suburban and rural areas. Industry source contribution showed an increase trend from financial crisis periods to economic recovery, and the contribution in 2014 was even higher than pre-crisis level. As a result, the concentrations of heavy metals (Zn, Cu, Pb, Cr and Ni) in the atmosphere were significant increased, thus enhanced their toxicity and health risks for people. The economic recovery after the financial crisis in Spain may be at the expense of emission control targets and air pollution. • This work studied the particulate matter compositions and sources in Spain. • Seven source factors were identified by Positive Matrix Factorization model. • Soil dust had the greatest influence in study area, followed by road traffic source. • Industry contribution showed an increase trend from financial crisis to recovery. • Increased industry source resulted to the increases of the atmospheric heavy metals.

In what terms and at what cost resilient? ‘Unregulated flexibilization’ in regional ‘troubled waters’

ABSTRACTThis paper sheds light on the debate on regional resilience to crisis in Greece, a country long suffering from insufficient planning mechanisms and recently hit by a severe economic crisis. In the paper, we discuss the spatialities of employment flexibilization vis-à-vis the devaluation of regional productive structures between 2005 and 2016. The paper critically builds on previous accounts of regional resilience, but also seeks to develop the concept through engaging in: (i) how different employment patterns, namely part-time work, present a powerful adaptive mechanism that is related to path-dependent regional production profiles; and (ii) why regions with less favourable pre-crisis production structures and anaemic growth seem to have been less affected by recession and may witness a faster recovery in its aftermath. The paper adopts a multi-layered methodology, using a variety of measures, offering an empirically grounded theorization of contemporary labour market changes within the Southern EU. The results indicate some key reasons for radically reformulating established regulatory and planning practices in order to promote a pattern of resilience that is more friendly to good and well-paid jobs. A prerequisite for the latter is the promotion of territorially cohesive strategies that reduce regional disparities and harness ‘unregulated flexibilization’.

Emergent threats: lessons learnt from Ebola.

Recent disease outbreaks have demonstrated the severe health, economic and political crises that epidemics can trigger. The rate of emergence of infectious diseases is accelerating and, with deepening globalisation, pathogens are increasingly mobile. Yet the 2014-2015 West African Ebola epidemic exposed major gaps in the world's capacity to prevent and respond to epidemics. In the midst of the world's second largest ever recorded Ebola outbreak in the Democratic Republic of the Congo, we reflect on six of the many lessons learnt from the epidemic in West Africa, focusing on progress made and the challenges ahead in preparing for future threats. While Ebola and other emerging epidemics will remain a challenge in the years to come, by working in partnership with affected communities and across sectors, and by investing in robust health systems, it is within our power to be better prepared when they strike.

The effects of international diversification on the link between product diversification and performance in a boom and bust cycle: Evidence from Spanish firms (1994–2014)

Abstract This study examines the individual effects of product diversification on performance and the moderating effects of international diversification on the product diversification–performance link in the context of a boom and bust cycle. Most prior research on firm strategies largely neglect the business cycle. We use data on a large sample of Spanish manufacturing firms from 1994 to 2014. In this period, the Spanish economy experienced a boom period (1994–2008) and a bust period involving a severe economic crisis (2009–2014). Our study highlights the important role of each stage of the economic cycle. Specifically, with respect to product diversification, our findings show that in a boom, moderate diversifiers obtain better profitability levels than their highly diverse or limited diversification counterparts do. In contrast, during an economic downturn, moderate and high diversifiers can be equally effective up to some point of optimization. Our findings also reveal a negative and significant effect of internationalization on profitability, independent of the stage of the economic cycle. Product and international diversification are complementary strategies during a period of economic growth when firms opt for moderate levels of product diversification. Meanwhile, when firms choose high levels of product diversification, both types of strategies are complementary during the boom cycle, but substitutive during the bust cycle.

A DESCOLONIZAÇÃO DA ÁFRICA: NACIONALISMO E SOCIALISMO

Os impérios coloniais africanos duraram apenas até a década de 1960. Para compreender o processo de desagregação desses impérios, bem como a própria rapidez com que o fenômeno se deu, é necessário considerar dois aspectos fundamentais: primeiramente, as transformações ocorridas nas metrópoles durante o século XX, e que, de certa forma, levaram a uma situação de impossibilidade de manter o colonialismo. Em segundo lugar, é preciso reconhecer que, em grande medida, a independência foi resultado de uma ampla articulação de movimentos de caráter nacionalista, representados pelas correntes ligadas à negritude, ao pan-africanismo e ao pan-islamismo. Nesta articulação, as ideias socialistas exerceram importante papel, e a União Soviética (URSS) forneceu grande apoio aos movimentos de libertação. O auxílio soviético se prolongou após a independência, até pelo menos o fim da década de 1970. E, depois de dois decênios de grave crise econômica e social, a ajuda externa tem vindo da China.

Перспективы внедрения технологий ядерной медицины в системе ФМБА России

The article is devoted to development prospects of nuclear medicine in the Russian Federation. One of the first to provide nuclear medicine in Soviet Union was A.I. Burnasyan. He headed the 3d Directorate General of Ministry of Health (the FMBA of Russia at present). The Institute of Biophysics and the Institute of Medical Radiology (Obninsk), was established in the 50s – 60s of the 20th century, laid the foundation for nuclear medicine and developed it. With their efforts, nuclear medicine in USSR has become the world leader. However, in the 1980s – 1990s, there was a serious lag in this area due to radiophobia that arose after the Chernobyl accident, as well as the collapse of the USSR and the severe economic crisis, overcoming which in the beginning of the 21st century made it possible to pay considerable attention to nuclear medicine. Today the FMBA of Russia leads in the development and application of nuclear medicine technology. In the departments of the FMBA of Russia – the Siberian Research and Clinical Center (Krasnoyarsk) and Northern Medical Clinical Center N.A. Semashko (Arkhangelsk) – carries out high-tech diagnostics and treatment of cancer, neurological and cardiac diseases. Currently, in Dimitrovgrad city, the creation of the Federal High-Tech Center for Medical Radiology of the FMBA of Russia (FHCMR, FMBA of Russia) under the state program “Establishment of Federal Centers of Medical Radiological Technologies” is being completed. FHCMR, FMBA of Russia will provide high-tech medical care to the assigned contingent of the FMBA of Russia and the adult population of the Central, Volga, North-West federal districts. In the article noted the need for training specialists in the nuclear medicine. Training of specialists is already being conducted at the Training and Education Center of the Federal Siberian Research and Clinical Center of the FMBA of Russia. An important aspect of the introduction of nuclear medicine technologies and the operation of such centers are issues of legal regulation. The article pays attention to the licensing of nuclear medicine objects in accordance with the requirements of the Federal Law No. 170-FZ of November 21, 1995 “On the Use of Atomic Energy”. The tasks that need to be addressed for the development of nuclear medicine technologies are formulated, including through the implementation of the public-private partnership mechanism, as well as by expanding international cooperation with the EAEU member states.

International Investment Law, Time, and Economics: Fixing the Length of Economic Crises as a Costs-Allocation Tool between Host States and Foreign Investors

AbstractThe case law on non-precluded measures clauses, when they are successful, and the customary rule of necessity, when it fails, transfers significant risks to foreign investors and host States, respectively, during severe economic crises. Some risk-sharing mechanisms should be explored to achieve a more balanced result. This article presents the policy reasons in support of this approach and its normative basis: the principle of acceptable compensation, and illustrates that one way to introduce such mechanisms is through the determination by investor/State tribunals of the length of the breakdown, which is marked by the dates for its beginning and end. The article discusses economic research on when crises conclude, which could be useful to tribunals, and explores the determination on the beginning of economic collapses as a risk-sharing tool and shows how decisions of the Argentinean saga have achieved this result.