Times Of Economic Slowdown Research Articles

Economic Uncertainty and its Effects in Bolivia

The paper's primary finding reveals that there are three factors related to the level of Bolivian economic uncertainty. These were interpreted as: i) uncertainty of economic expectations; ii) uncertainty of monetary and exchange rate policy; iii) political and social uncertainty. The contribution of each factor was found to account for approximately one-third of the total uncertainty; however, due to the incidence of the searches, the uncertainty factor in the monetary exchange rate policy showed greater contemporaneous synchronization with the general level by using multivariate techniques monthly for the period from January 2004 to December 2020. The estimated index captured negative variations for uncertainty during times of economic boom and growth, and it reflected positive variations of uncertainty in times of economic slowdown, low commodity prices, persistent fiscal and external deficits, as well as drops in net international reserves. Finally, by estimating a structural VAR model (SVAR), a direct relationship was found between global (external) economic uncertainty and domestic (internal) economic uncertainty, which slows national economic activity by -0.65%, interpreted as a retarding factor for economic growth.

Does the global natural gas market have a future?

The article presents an analysis of the current state and forecasts of the long-term development of the global natural gas market. Regional and sectoral aspects of gas production and consumption are considered. Particular attention in the article is paid to the priorities for the development of the gas industry in East and South Asia. Increased demand for gas will be driven by higher electricity consumption. In developing Asian countries, industrial gas consumption is expected to grow rapidly until 2050 in parallel with the development of the respective industries. By the end of this period, demand in these countries, according to long-term energy projections (by IHS Markit), will have grown 2.0 times to 1277.8 bln cubic meters. The environmental benefi ts of natural gas will support, but not determine, its role in individual markets, because the price of gas in power generation will primarily determine its prospects. In times of economic slowdown, an imbalance of supply and demand in the global hydrocarbon market leads to its destabilisation. In order to predict such situations in advance, experts from international and Russian organisations (International Energy Agency, BP plc, Energy Research Institute of the Russian Academy of Sciences, Institute of Energy Economics of Japan) and consultancy companies (IHS Markit) periodically prepare papers on the evolution of global energy markets and the implications for Russia. Virtually all studies are not yet ready to name a period of peak gas demand in the foreseeable future, even for the world’s largest economies (with the exception of the European Union and developed Asian countries), which gives reason to call the 21st century a gas century.

Dynamics encouraging women towards embracing entrepreneurship

PurposeWomen entrepreneurship is the fundamental carter of economic development. This study aims to identify the dynamics that encourage entrepreneurial attitudes among women in MENA countries. More precisely, it required to scrutinize the role of the government, role models, the entrepreneurial training and women’s demographic characteristics in encouraging women to embrace entrepreneurship.Design/methodology/approachThis study is based on primary data, where data were gathered from a sample of 300 women from MENA countries through a self-administered questionnaire and were subjected to one-way ANOVA tests. Different statistical tools were used to draw some valued conclusions from the gathered data. The study reveals that women entrepreneurs acknowledge the role played by the government, entrepreneurship training, role models and demographic variables in encouraging them to embrace entrepreneurship.FindingsThe government and the entrepreneurial training were found to be the greatest variables encouraging women to embrace entrepreneurship. Nevertheless, the low overall mean exhibited that most women do not believe that these bodies have played their role satisfactorily. Whereas the ANOVA results reveal that age and work experience were not important dynamics behind encouraging women to embrace entrepreneurship.Research limitations/implicationsData were collected from a sample of 300 women entrepreneurs with a simple random sampling technique from the following MENA countries: Oman, Qatar, Egypt, Jordan, Saudi Arabia and United Arab Emirates. It is too difficult to approach the women respondents and then collect data from them especially in MENA countries; hence the sample is small and limited.Practical implicationsHowever, such studies are still in the minority, and, with few exceptions, most have been published in the niche. The study finds imperative for policymakers to go beyond measures that aim to address the challenges that individual women entrepreneurs face and to study the institutional framework affecting women entrepreneurship in relationship to motivations and resources. Additional care is desired to compel the environment and context to eliminate barriers to women entrepreneurship at source. The government should play a significant role in encouraging women to embrace entrepreneurship, especially in times of economic slowdown. World-wide, women are under-represented among the population of entrepreneurs, and they tend to have different motivations and intentions. The first, and most obvious, implication highlights governments need to create special funds for unlocking the potential by enhancing their levels of entrepreneurship skills using the traditional instruments such as training. The government should come up with new and specific training programmes, providing support for growth-oriented women entrepreneurs with dedicated business incubator and business accelerator programmes.Social implicationsEntrepreneurs are strongly influenced by role models and social context. It is therefore important to promote women entrepreneurs as role models and ensure that the education system is gender-neutral and does not discourage women from going into different fields. Finally, more targeted actions can be taken to ensure that family policies, social policies and tax policies do not discriminate against entrepreneurship by women.Originality/valueThe author believes that only few entrepreneurship researchers are interested in feminist epistemology, disappointingly the more advanced understanding of feminism witnessed in sociology and the political science literature is not reflected in the field of entrepreneurship. Hence, there is a need for investigate the dynamics like government role, entrepreneurial training, role models and demographic characteristics, to have a fuller understanding of how they affect, to ensure a more accurate assessment of the outcomes for the development of women entrepreneurs in MENA countries. This study is an attempt to investigate the dynamics such as government role, entrepreneurial training, role models and demographic characteristics that encourage women to embrace entrepreneurship in MENA countries.

Employment and labour hoarding: a production function approach

PurposeThis paper aims to test the hypothesis that the effect of production slowdown on labour demand can be muted by labour hoarding.Design/methodology/approachThis study adopts a production function approach, using data from Malta, a small state in the EU.FindingsThe results confirm the hypothesis and indicate that firms are normally prepared to employ and dismiss more workers in the long run than in the short run.Practical implicationsThis finding has important implications for developed countries, including that labour hoarding can be of certain relevance in times of economic slowdown as shocks are absorbed by internal flexibility.Originality/valueThe results of this study add on to the existing literature in two ways. First, this study compares two industries –manufacturing and financial services– for which the former sector received support to hoard labour after the financial turmoil of 2008. Consequently, the dominance of labour hoarding in manufacturing relative to financial services is uncovered and the effect of hoarding practices on labour demand is estimated. Second, Malta is an interesting case because it is one of the smallest economies in the world and faces a high degree of vulnerability because of constraints associated with small size and insularity. As a result, firms adopt policy-induced measures to minimise adjustment costs.

Regional Backwardness and Public Spending on Development of Rural Physical and Social Infrastructure in Karnataka

The word infrastructure has been derived from the different two independent words ‘Infra’ means which lies beneath or comes before and similarly ‘Structure’ which means well planned or organised. Infrastructure could serve as a true engine of growth and can provide the much needed momentum to the economic in the time of economic slowdown. The Indian economy has grown at an average 8 per cent in the recent past years, and a 10 per cent annual GDP growth is difficult to achieve unless the county improves its rural infrastructure. If India is to sustain its high growth much of the required investment is of a public goods nature and thus most of the infrastructure investments must come from public sources. Karnataka is a pioneer State in the transformation of the ‘Gram Swaraj’ concept into reality and enacting the PRI Act to bring the practice of decentralised administration and development in line with the 73rd Amendment to the Constitution. A three-tier structure was created with the Zilla Panchayath at district, Taluka Panchayath at taluks and Gram Panchayath at the village level. 73rd amendment of constitution gives more power to Gram Panchayath in context to local self governance. A high power committee for the redressal of regional imbalance was constituted by the government in 2000. It identified 35 indicators encompassing agriculture, industry, and social-economic infrastructure and population characteristics to index of development. Gram Swaraj Project implemented in Karnataka State from the year 2006–2007 was based on Prof. Nanjundappa committee to address the issue of regional imbalances in his report. With this background the State Government has intend to strengthening the 1,341 Gram Panchayats comes under ‘most backward taluks’ with the collaboration of World bank aid.

Konsolidacja sektora bankowego w Polsce – szansa czy zagrożenie?

The prevailing opinion in the years prior to the recent financial crisis was that extensive consolidation of the banking sector is a good solution in a time of economic slowdown. Creating large banking structures was justified by possible economies of scale connected with mergers and acquisitions. A further argument was that larger banks can diversify their activities and therefore better adapt to changing market conditions – as well as increase their resistance to potential banking crises. As a consequence, banking sector concentration has become an important issue both in discussions and in the literature. Yet no clear answer regarding the optimal structure of the banking sector has been provided. Taking into account changes in the domestic banking market, this article describes the phenomenon of concentration, sets out possible directions for future developments and discusses their potential consequences.

Sustainable Development - Through Corporate Social Responsibility (CSR) in Times of Economic Slowdown

Well-known companies have proven that they can differentiate their brands and reputations, if they take the responsibility of the well-being of the society and environment in which they operate. Companies are practicing corporate social responsibility (CSR) in the manner that generates significant returns to their businesses. CSR and development are interrelated. Sustainability and CSR have taken something of a back seat in the past few months, thanks to the increasing reality of a global economic slowdown. In a tough economic climate, tough decisions have to be made, and with everyone focused on delivering value for money to the customers, there is likelihood that people will see CSR as a fringe activity and not as a business essential. Recession is a time of uncertainty and corporates should try to focus on the long-term benefits from CSR activities rather than focusing on immediate cost cutting at the risk of forgoing their responsibilities towards the community.

Hand Surgery Volume and the US Economy

To the best of our knowledge, there have been no previous studies evaluating the correlation of the US economy and hand surgery volume. Therefore, in light of the current recession, our objective was to study our institution's hand surgery volume over the last 17 years in relation to the nation's economy. A retrospective analysis of our institution's hand surgery volume, as represented by our most common procedure (ie, carpal tunnel release), was performed between January 1992 and October 2008. Liposuction and breast augmentation volumes were chosen to serve as cosmetic plastic surgery comparison groups. Pearson correlation statistics were used to estimate the relationship between the surgical volume and the US economy, as represented by the 3 market indices (Dow Jones, NASDAQ, and S&P500). A combined total of 7884 hand surgery carpal tunnel release (open or endoscopic) patients were identified. There were 1927 (24%) and 5957 (76%) patients within the departments of plastic and orthopedic surgery, respectively. In the plastic surgery department, there was a strong negative (ie, inverse relationship) correlation between hand surgery volume and the economy (P < 0.001). In converse, the orthopedic department's hand surgery volume demonstrated a positive (ie, parallel) correlation (P < 0.001). The volumes of liposuction and breast augmentation also showed a positive correlation (P < 0.001). To our knowledge, we have demonstrated for the first time an inverse (ie, negative) correlation between hand surgery volumes performed by plastic surgeons in relation to the US economy, as represented by the 3 major market indices. In contrast, orthopedic hand surgery volume and cosmetic surgery show a parallel (ie, positive) correlation. This data suggests that plastic surgeons are increasing their cosmetic surgery-to-reconstructive/hand surgery ratio during strong economic times and vice versa during times of economic slowdown.

The other crisis: the economics and financing of maternal, newborn and child health in Asia

The Global Financial Crisis (GFC) of 2008/2009 was the largest economic slowdown since the Great Depression. It undermined the growth and development prospects of developing countries. Several recent studies estimate the impact of economic shocks on the poor and vulnerable, especially women and children. Infant and child mortality rates are still likely to continue to decline, but at lower rates than would have been the case in the absence of the GFC. Asia faces special challenges. Despite having been the fastest growing region in the world for decades, and even before the current crisis, this region accounted for nearly 34% of global deaths of children under 5, more than 40% of maternal deaths and 60% of newborn deaths. Global development goals cannot be achieved without much faster and deeper progress in Asia. Current health financing systems in much of Asia are not well placed to respond to the needs of women and their children, or the recent global financial and economic slowdown. Public expenditure is often already too low, and high levels of out-of-pocket health expenditure are an independent cause of inequity and impoverishment for women and their children. The GFC highlights the need for reforms that will improve health outcomes for the poor, protect the vulnerable from financial distress, improve public expenditure patterns and resource allocation decisions, and so strengthen health systems. This paper aims to highlight the most recent assessments of how economic shocks, including the GFC, affect the poor in developing countries, especially vulnerable women and children in Asia. It concludes that conditional cash transfers, increasing taxation on tobacco and increasing the level, and quality, of public expenditure through well-designed investment programmes are particularly relevant in the context of an economic shock. That is because these initiatives simultaneously improve health outcomes for the poor and vulnerable, protect them from further financial distress, improve public financing and/or provide a much-needed counter-cyclical stimulus at times of economic slowdown.

BUSINESS DEVELOPMENT OPPORTUNITIES IN THE CASE OF ECONOMICS RECESSION IN LATGALE REGION

Business survival and development in time of economic slowdown is complicated. The research on business opportunities and threats is carried out with the help of opinion survey of employers and employees of business companies in Latgale. The findings have clarified the main business opportunities against the backdrop of crisis in Latvia.

Deprivation amplification and health promoting resources in the context of a poor country

Researchers have often indicated area deprivation as a factor in vulnerability amplification: poorest individuals are more likely to live in vulnerable areas, and the gap between rich and poor, as regards health and health-related behaviour, is exacerbated by the interactions between individual hardship and area deprivation. However, recent evidence has raised some objections to this hypothesis, suggesting that poor neighbourhoods are not necessarily poorer in terms of health promoting resources. But what happens in a poor country at a time of economic slowdown? The aim of this study was to analyse the availability of 58 types of local resource within the Lisbon Metropolitan Area, Portugal, assessed by quintile of neighbourhood deprivation. The analysis identifies clear associations between the availability of health promoting resources and deprivation: 67% of the analysed resources were less available in the most deprived neighbourhoods. We observe the emergence of a disadvantageous pattern where lack of neighbourhood resources tends to overlap with socioeconomic deprivation shaping a run-down environment that is potentially harmful to health.

Flexicurity - Challenge to Improve Czech Labour Market

Flexicurity - Challenge to Improve Czech Labour Market Flexicurity reflects the current basic trend of the EU in guaranteeing high employment levels and attainability of national fiscal systems. It was introduced in Denmark in the 1990s and significantly helped reduce unemployment levels. The Czech labour market, despite the transformation process, has still space for further improvement, especially in the time of economic slow-down. The best way is to try to apply elements and components which have been already successfully implemented in the other EU Member States. The aim of the paper is (based on the statistical indicators and official documents concerning labour markets topic) to describe the basic function of the model and find the components of the flexicurity model which could be used also in the Czech Republic and change labour market operation.

Labour markets in Finland during the great twentieth centuty1

The study compares the great depressions of the twentieth century in Finland from the perspective of labour market adjustment channels. The increase in employment was much more rapid during the rebound from the great depression of the 1930s compared with the recovery from the great slump of the 1990s. There was a moderate decline in real wages in manufacturing industries during the early 1990s, However, the slump of the 1930s brought a severe fall in real wages. The nominal wage adjustment of the Finnish labour markets was entirely dissimilar in these two depressions. During the 1990s nominal wages in the manufacturing industries did not decline at all. This pattern is in sharp contrast to the deep cuts in nominal wages during the 1930s. There was an increase in the level of labour productivity during the great depressions of the twentieth century which is linked to restructuring during the times of economic slowdown.