ABSTRACT
In this study, Simple Linear Regression Analysis was carried out to investigate the impact of COVID-19 on Borsa Istanbul Sub-Sectors indices. In the analysis, the number of daily cases of COVID-19 was taken as independent variables, and Borsa Istanbul Sub-Sector (Tourism, Transportation, Textile-Leather, Food-Beverage, Industrial) index data were taken as dependent variables. As the data set, daily data between 11.03.2020-09.04.2021 was preferred. In determining the time interval of the preferred data set, 11 March 2020, when the COVID-19 outbreak was first seen in Turkey, was taken into account. As a result of the analysis, it has been found that the COVID-19 epidemic has a relatively high level of meaningful and negative impact on the Tourism, Textile and Industrial Sector Indices. It has been observed that it has a lower level of meaningful and negative effect on the Food-Beverage and Transportation Indices.
ABSTRACT
The study examines the productivity of agriculture, micro, small, and medium scale enterprises in India 2019-2021 and analyses the impact of covid-19 on the Indian economy concerning the production sector. Data from an impact study of covid-19 conducted by NABARD was used and the percentage of various products from Indian states have been found with low production in agriculture and other branches of the production sector. Allied branches of agriculture and MSMEs have faced troubles though covid-19. Overall results suggested that pandemic has created more vulnerability in all the branches of agricultural products. Further, the performance of MSMEs have declined and registered negative growth. Apart from that, the pandemic distracted the demand and supply sides of the production and created more volatility and instability in the Indian economy especially on production, consumption and trade of produced goods. The pandemic has given various threats to agriculture and production of various products from MSMEs have stalled. However, the study suggests that it is the duty of government entities and individuals of the country to coordinate to fight against a pandemic.
ABSTRACT
Sectors strategic to the post Covid-19 economic recovery Parana are identified here by using an input-output matrix and economic indicators calculated from 2018 Parana-Rest of Brazil interregional system data. Intersectoral linkages indices portray food industry, civil construction, commerce and land transport as driving sectors of the state economy. Results concerning production, employment and income are higher for the textile and clothing, commerce, accommodation and food, education, health, and software development sectors, the latter being an important sector for the emergence of micro and small business. Incentive actions directed to strategic sectors in the economic recovery involve professional qualification, microcredit, business incubators, and extension activities focusing the dissemination of new communication and sales technologies.
ABSTRACT
The islands of Barbuda and Puerto Rico share a history of dispossession and exploitation, occupying a peripheric position in a core-periphery world system. Yet, each island's response to COVID-19, and the subsequent effects of the pandemic, could not be more different. This paper examines how colonialism and neocolonialism affected the islands' ability to respond to COVID-19. Barbuda relied on community traditions of support and self-reliance and was able to restrict all travel to and from the island, including travelers from the diaspora and those participating in its informal economic sector. In doing so, Barbuda effectively isolated itself from infection. On the other hand, Puerto Rico, in a protracted economic crisis, was particularly vulnerable to touristic flows, diasporic movements, and a large informal sector. The Puerto Rican response was shaped by deep politicization in the mainland U.S., which complicated an evidence-based strategy to combat the emergency. These cases show that islands, particularly those located in peripheric or subaltern spaces, cannot isolate themselves from the worst effects of COVID-19 through mere geography. Pandemics are not only driven by biological events but also by the narratives of colonialism, encompassing political, economic, and cultural factors, which determine their trajectories - sometimes with devastating outcomes.
ABSTRACT
Islandness is often considered to be a disadvantage. However, it has helped the residents of islands to delay, deter, and, in some cases, totally insulate themselves from COVID-19. While islanders have been quick to lock themselves down, this has had a tremendous impact on their connectivity and on tourism, which in many cases is their major economic sector. Yet, the association of islands with being safe, "COVID-19 free" zones has helped these spaces to be among the first destinations to restart the tourism economy once travel restrictions were lifted. After several weeks of lockdown, and with the COVID-19 threat still looming, social distancing remained the norm. Travellers were thus eager to immerse themselves in island environments while avoiding crowds and seeking small accommodation facilities in less densely populated rural areas to limit the risks of infection - a package offered by several islands in the central Mediterranean. With many travellers opting to travel close to home, islands benefited from domestic tourism - a key market segment for islands in this region. Islands have thus performed relatively well in fighting the COVID-19 pandemic and in restarting their economies;but the pandemic has also exposed challenges including a dangerous overreliance on tourism.
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The aim of this study is to investigate the effects of COVID-19 pandemic on the financial performance of companies operating in manufacturing subsectors and listed on the Stock Exchange Istanbul. In this direction, the financial efficiency and productivity change values of manufacturing companies before and during the Covid-19 pandemic were examined using the Malmquist Total Factor Productivity Index (MTFP) method. The findings obtained in the study indicate that the COVID-19 pandemic has negative effects on the financial performance of manufacturing companies. At the same time, the findings show that the COVID-19 pandemic has most affected the main metal industry, food, drink, and tobacco, metal and metals products and machinery industry subsectors.
ABSTRACT
The article reveals the importance of state financial regulation as one of the most important tools for economic growth and ensuring the competitiveness of industries and the economy of Ukraine. The studies of domestic and foreign scientists on the subject of research are analyzed in detail. The state of enterprises of the agricultural sector of Ukraine for the period 2013- 2020 has been determined. The study was carried out on the factors of providing agricultural producers with financial resources in terms of the size of the forms of management. The share of unprofitable enterprises in the industry for the same period is also analyzed. The achievements of the agricultural sector are described according to the statistical analysis of the state of socio-economic development of the regions in the period 2020-2021. The methodology for monitoring and evaluating the effectiveness of the implementation of the state regional policy in accordance with legislative regulations is described. This made it possible to establish that at the present stage, the financial regulation of the agricultural sector of Ukraine is carried out without proper scientific justification and, as a rule, responds slowly to the requirements of economic practice, especially in the context of deepening the penetration of global processes into the national economy. Approaches to the assessment of the competitive environment of the agrarian sector of Ukraine and the direction of its state regulation are proposed. Theoretical, methodological, and practical aspects of assessing the competitiveness of the sector are disclosed. The necessity and possibility of forming a competitive environment by fiscal policy measures, primarily budgetary regulation, is proved. The problems of forming a competitive environment in the context of the current crisis caused by the COVID-19 pandemic, the place of Ukraine in the world competitiveness ranking are identified, and methodological approaches to the development strategy are proposed. It is proved that the competitive strategy is based on the existing resources of the industry (material, financial and intellectual), the level of development of various forms of management, the structure of production, marketing, processing, the formation of value chains and a bilateral state-market regulator. The directions for improving the quality of the competitive environment, arising from the paradigm of innovative development of the agricultural sector, are summarized and provide for the stimulation of small business in niche and organic production and large-scale industrial production in terms of the main indicators of food security, as well as the development of land, financial, credit and resource markets and the formation of equal access to them all agricultural producers.
ABSTRACT
The COVID-19 pandemic has an impact on the economic sector, including the agricultural sector. This research will look at the agricultural sector's condition, especially the welfare of farmers represented in the value of the Framers' Term of Trade (FTT) during the COVID-19 pandemic and will forecast FTT for September 2020. This research uses Farmers' Term of Trade (FTT) data obtained from the Indonesian Statistics Bureau (BPS). FTT data were used from January 2016 to August 2020. The Single Exponential Smoothing (SES), used to forecast the FTT value in September 2020, and the determination of the most optimal forecasting value used Mean Absolute Percentage Error (MAPE). The results showed that the TFF value, recorded during the COVID-19 pandemic, experienced a drastic decline in May 2020 with a TFF value of 99.46. The forecasting calculations using the SES and MAPE methods showed that the most optimal FTT value for September 2020 was 100.63, with a MAPE value of 19.97 percent.
ABSTRACT
The pandemic of Covid-19 has resulted in more significant global problems in terms of food security due to movement control orders (MCO) executed around the world. Malaysia has been affected by the Covid-19 pandemic and has slowed down the activities of economic sectors, including the agriculture sector. Therefore, this paper discussed in depth the impact of the Covid- 19 pandemic on food security in Malaysia, especially in terms of food supply and demand. This study used qualitative method involving analysis of formal and informal documents to obtain information on food security during the Covid-19 pandemic. During the MCO, local farmers faced with agricultural produce dumping due to the close of several support sectors such as retail, transportation, and food services. The agricultural supply chain was also affected due to a lack of agricultural inputs and a shortage of labor. This situation is worsened by the inadequacy of food storage facilities which has caused damage to agricultural produce. The demand for food among the community continued to increase during the MCO due to the panic-buying. This study also highlighted several suggestions toward improving the stability of food security in order for the country to withstand any crisis.
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Purpose: In the early stage of the COVID-19 pandemic, Vietnam imposed many drastic restrictions to curb the outbreak of this virus. Such restrictions interrupted the normal functioning of various economic sectors, including agriculture. This research examined disruptions to agricultural activities, income loss and perceived food insecurity among farm households during the pandemic, and then explored the relationships among these economic factors. Design/methodology/approach: Household data from Vietnam and Generalized Structural Equation Model (GSEM) were used for empirical analysis. Findings: Descriptive analyses found that only a small proportion of farm households suffered from the COVID-19 disruptions to their agricultural activities, a large percentage experienced income loss, and a medium number were worried about their food insecurity. GSEM results also revealed that the COVID-19 disruptions to agricultural activities significantly increased the likelihood of worrying about food insecurity, mediated by income loss. Research limitations/implications: Due to data limitations, the authors could not use better indicators to define and measure the variables of interest (e.g. COVID-19 disruptions to agricultural activities, income loss and food insecurity). Another similar concern was that our models did not account for unobservables, causing some estimation biases. Originality/value: This research is among the first attempts that examined the direct and indirect (mediated by income loss) effects of the COVID-19 disruptions to agricultural activities on food insecurity.
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The article examines the factors and measures taken to support and develop the real sector of the economy in the context of the coronavirus pandemic.
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The article proves that modern globalization challenges create unique opportunities for the recovery of rural green tourism, outlining the prospects for its attribution to strategically important sectors of the national economy on the grounds of priority, resilience and responsibility. However, achieving such results is impossible without appropriate organizational and economic provision for the development of infrastructure of enterprises of rural green tourism, where the State-based levers and instruments play a special role, because due to the sudden, unprecedented drop in demand, the travel and tourism sector will require, first of all, financial incentives with regard to support and recovery. The article is aimed at determine the potential for the recovery of green rural tourism in the conditions of COVID-19 as an instrument for the renovation of the agrarian economy. It is specified that the development of normative and legal provision for the activation of economic activity in the sphere of rural green tourism is a basic condition for the formation of a legal framework for the development of this type of tourism and attraction of investments in this industry. The main determinants of infrastructure development of rural green tourism in Ukraine have been identified and priority measures for the development of rural green and gastronomic tourism in rural areas for the future period are proposed. According to the authors, the active development of rural green tourism in Ukraine necessitates the following: carrying out an analysis of the current system of railway communication between cities and adjusting it to the tourist map of the country;increasing the level of responsibility of carriers for their activities and create conditions for safe passage through the territory;to carry out repairs not only of nationally important roads, but to maintain local roads in good condition as well;improving the quality of road infrastructure, with a focus on placing the appropriate identifying signs for both historical tourist sites and objects of rural green tourism;increasing the efficiency of the State regulation in this sphere. Prospects for further research are to determine the feasibility of implementing the world experience of recovering the tourism industry, particularly rural green tourism.
ABSTRACT
Tourism, one of the branches that recorded among the largest losses during the Covid-19 pandemic, both globally and nationally, is the subject of the case study. These losses were due both to the travel restrictions imposed by each state, but also to the reluctance of tourists to travel, especially in 2020. Therefore, the number of tourists has decreased considerably, both in terms of resident tourists and tourists. non-residents. That is why in this paper the researchers set out to analyze the ways in which the development of the Covid-19 pandemic influenced the tourist traffic, taking into account the non-resident tourists who arrived in Romania. The researchers found that the incoming activity of tourists was well below the outgoing activity, which negatively influenced both the tourist entities and the complementary sectors, which in turn are related to the entire national economy. The research methodology consisted in collecting the existing data on the website of the National Institute of Statistics, as well as in other specialized databases, their processing, analysis and formulation of conclusions. Different research methods were used: analysis, deduction, graphical method, comparative method, as well as a series of indicators with a fixed base through which the researchers highlighted the change in time of tourist traffic, as well as their growth rate. Based on the analyzed data, conclusions were formulated that allowed us to characterize the existing situation on the Romanian market in the period 2018-2020.
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The worldwide literature on the socio-economic impacts of the Covid-19 is extensive, covering individual enterprises and markets, economic sectors or branches, or the national and global economy. The current study is unique as it is a comprehensive compilation of the relevant evidence regarding economic entities and sectors of global or international significance and the societal groups from an angle of so-called "pandemic game" with some implications for the agri-food economy. Its main aim is to identify the actual and potential winners and losers of the pandemic. The winners' notion covers actors, e.g. economic sectors or people groups those extraordinarily benefited or will benefit from a pandemic, extremely upgrading their financial or other performance. In turn, the losers include individuals or entities that incurred unusual costs or losses, worsened their results, or probably will face such pandemic consequences in the future. Some economic ideas also are considered. The article is based on the scientific, popular and grey literature as well as publicly available data to support research. The research uses deductive explanation methods. Results show that the biopharmaceutical industry, leading digital companies, shareholders in international retail chains, global financial holdings, food delivery companies, and the World's richest people are among those who thrived exceptionally well in the new living and doing business conditions and can therefore be admitted as the current crisis' winners. Adversely, the coronavirus victims, energy and air transport sectors, and food processing labour, all of them being harmfully affected by the pandemic, are examples of losers. Albeit the presented winners and losers represent various spheres of economic life, they are more or less related to the agriculture and food processing industry. The study confirms that the functioning and condition of the latter depend on the situation of other economic sectors, agents, and markets, and international disturbances spreading within an open economy. The paper can be of interest both to the research community, and decision-makers in different economic and social policy areas.
ABSTRACT
The COVID-19 pandemic has made the tourism industry in Malaysia decline drastically. The outbreak has continued for almost two years and has decreased local and international tourist arrivals. The declinations are put under the Movement Control Order (MCO) execution, and safety precautions were issued when travelling around. Nevertheless, the impressive rate of deterioration in pandemic transmission gives a new shade to domestic tourism. The Ministry of Tourism has put forward an initiative that can revitalise the economic sector in the country by introducing the travel bubble destinations among Malaysians. With that, the main purpose of this study is to explore the travel bubble risk anxiety, risk attitude, and intention to travel among Malaysian when COVID-19 is still plaguing the nation. A self-administered survey was conducted online using a snowballing technique. The collected data were keyed and analysed accordingly and answered the objective of the study. The main findings of this study highlighted that those respondents would feel anxious and worried about their safety when participating in the travel bubble. Statistical significance also revealed the respondents' intentions to travel during the COVID-19 outbreak. Further discussions of the findings were also highlighted to deliberate the implications of the study.
ABSTRACT
Corona virus disease 2019 (Covid-19) has been major threat for the sustainability of human existence. In understanding the gravity of the situation, every state has undertaken special steps to fight against the pandemic mostly with measures involving social distancing and self-isolation, restriction in travel and trade. This is done in all the states to avoid the spread of the virus. All these strategies to combat against the pandemic have greatly affected an important economic sector such as livestock production. Livestock production is one of the main agricultural sector in endorsing availability and accessibility of food and human development. Livestock plays an important role in the economic system, provides food and feed material, creates employment opportunities to a very large population;meet the animal protein demands of the economy. At present, livestock industry has included game reserves, recreational centers, marketing of livestock, processing of livestock, distribution of animal products, research institutes etc. are all accepted as component of modern animal production. This review intends to document the impact of Covid-19 pandemic on livestock production and food security as it primarily involves the sustainability of human life and the economy. It was observed that the Covid-19 pandemic protocols and provisions interferes with the supply chain of the market with impaired production and distribution.
ABSTRACT
Intensification of globalization processes and transition of economically developed countries to the post-industrial stage of development determine the modern vector of structural and institutional transformation of the domestic market as a whole and trade in particular. The article is aimed at estimating the determinants of the development of domestic trade in Ukraine. The indicators of internal trade development are analyzed. The regional structure of retail turnover of Ukraine is provided. The risks and threats of foreign trade liberalization for domestic producers are characterized. The share of imported food and non-food products sold through the trade network of enterprises is computed. The commodity structure of imports by wide economic categories is provided. The risks of growing import dependence of the Ukrainian economy in terms of goods for final and intermediate consumption are identified. It is substantiated that one of the important vectors of improving the efficiency of the national economy is structural changes in the sphere of domestic trade. The prospects for the development of domestic trade in Ukraine are generalized, including those caused by the impact of the COVID-19 pandemic. It is argued that the coronavirus crisis is one of the key challenges for business in modern conditions, covering all its aspects - from sectoral to global supply chains. The priority of digital transformation of enterprises in order to protect their own position from high technologies of competitors and the opportunity to take advantage of greater functionality of digital business models with their adaptability and performance is determined. It is substantiated that the processes of globalization in the context of the coronavirus crisis have slowed down, which can lead to significant changes in the structure of the market, affect the distribution of online and offline trading. The prospect of further research in this direction is the forecasting of challenges and threats of the post-pandemic development for the domestic market of Ukraine.
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The relevance of the chosen research topic is due to the need to analyze the level of economic development and search for new ways to develop the hotel and restaurant business in today's challenges. The hotel and restaurant business plays an important social, image and economic role in the development of the national economy, acts as a supporting component of tourism and creates jobs for a significant number of people. In the context of the COVID-19 pandemic, business has faced a number of new and unpredictable challenges that have stopped the dynamic development of the industry in recent years and require the development of new strategic solutions for adaptation to transformational conditions. The purpose of this article is to analyze the economic development of the hotel and restaurant business in Ukraine in the context of current challenges related to the COVID-19 pandemic and to find appropriate ways to adapt the business to new conditions. The trends of economic development of the hospitality industry of Ukraine in terms of the main types of economic activity, namely: activities for temporary accommodation and catering have been analyzed in the article. The main problems of development of these types of economic activity in the conditions of quarantine restrictions and post-pandemic period have been singled out, the influence of quarantine on the economic situation of business has been researched. The main directions of adaptation of enterprises of hotel and restaurant business in new conditions have been offered. The scientific novelty of article is results of economic analysis conducted, assessing the obstacles and risks of the hotel and restaurant business and identifying the main ways to restore and develop the industry in the context of modern challenges. The practical significance of the article lies in determining the level of development of the hotel and restaurant business and the development of the main directions of adaptation of business activities in the new environment.
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The article defines that recently, under the influence of global processes, pandemic and volatility of international agri-food markets, the high dynamics of transformations in the world economy has been generating more and more risks for domestic producers and requires effective decision-making in the legislative and regulatory field at the State level. Thus, formation and implementation of strategic priorities of institutional support for the agrarian economy of Ukraine in the context of European integration processes remains an actual problem. The article is aimed at substantiating the strategic priorities of developing the institutions of the National Academy of Agrarian Sciences of Ukraine in the context of changes in the global environment and under the influence of European integration processes. In order to achieve the aim, analysis of modern problems of institutional support of the agrarian sphere of the national economy of Ukraine in the context of European integration processes is carried out. It is noted that the COVID-19 pandemic has had a significant impact on the implementation of the tasks of the structural units of the National Academy of Agrarian Sciences as a scientific institution to provide innovative support for the development of the industry. Emphasis is placed on the chronic underfunding of research and development at the State level, which inhibits the effectiveness of innovative providers in the agricultural sector. The main directions of further development of agribusiness in order to ensure the competitiveness of domestic products in agri-food markets and ensure food security of the country are identified. Emphasis is placed on the intensification of significant export potential, in particular organic production, the volume of supplies to world markets is growing. However, it is proved that the effectiveness of the implemented strategies for scientific support of the agricultural sector requires proper funding, responsible attitude and vision of the economic perspective behind it. In order to intensify the innovative model of scientific activity in the agrarian sphere and in the context of integration into the European Open Scientific Space, the first intermediate results of the activities of the State-owned institutions of the National Academy of Agrarian Sciences are determined.
ABSTRACT
During recent decades, tourism has become one of the most dynamic and fastest growing economic sectors in the world. Tourism is the economic sector that contributes to job creation both directly and indirectly, especially for women and young people. Thus, in 2019, the number of jobs in tourism accounted for 10.3% of total jobs worldwide, and the contribution of tourism to global GDP was 8%. The onset of the COVID-19 pandemic is an important and evolving challenge for the tourism sector. Measures taken by countries around the world to counter the pandemic have severely affected the tourism industry, and recent developments in this health and economic crisis show that the likelihood of this sector returning to normal in the near future is very low. Based on the latest developments in quarantine measures, travel bans, border closures and previous crisis patterns, various international tourism bodies anticipate significant reductions in jobs and incomes in this economic sector. The widespread impact of the COVID-19 pandemic and measures to combat it significantly affect all aspects of our lives and living environment, including tourism and cultural heritage. The paper presents a brief assessment of the impact of the COVID-19 pandemic on tourism in general and especially cultural tourism, worldwide, at European and at national levels.