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41. The Effect of COVID-19 on Firms’ Behaviour: The Case of Japan

Author:
Yuting Chen and Bin Ni
Publication Date:
03-2024
Content Type:
Working Paper
Institution:
Economic Research Institute for ASEAN and East Asia (ERIA)
Abstract:
Since the onset of the coronavirus disease (COVID‐19) pandemic, social distancing practices and government‐mandated lockdowns have become the norm. These have cut off interaction amongst people, firms, and society, triggering an even larger decline in economic activity. In this study, we apply annual Japanese foreign affiliate data to quantify how COVID-19 has affected firms’ behaviour in various aspects. The estimation results show that both the revenue and purchasing behaviour of Japanese foreign affiliates were affected during COVID-19. This negative impact is mainly through the channel of stringent regulations imposed by host countries where affiliates are located. The general result we can derive from these findings is that COVID-19 negatively affects Japanese firms engaged in overseas activities. This leaves us with the question of when external shocks such as COVID-19 stand in the way of firms’ overseas activities, and what role the government should play to achieve a balance between safety and economic revival.
Topic:
Trade, COVID-19, Performance Evaluation, and Firms
Political Geography:
Japan and Asia

42. COVID-19 and Firm Response: Evidence from China

Author:
Dongmin Kong, Chen Liu, and Mengxu Xiong
Publication Date:
02-2024
Content Type:
Working Paper
Institution:
Economic Research Institute for ASEAN and East Asia (ERIA)
Abstract:
This paper explores the effects of the coronavirus disease (COVID-19) pandemic on firm response. Using a novel COVID-19 sentiment index, our estimation shows that the pandemic significantly reduced the overseas revenue and profits of firms listed on the Chinese A-share market. Moreover, we observe that an increase in loans, and a drop in debt financing cost and trade credit, were prominent during the pandemic. We contend that reduced cash flows, which damaged firm operations; government support, which provided more financing channels; and increased default risks, which placed barriers on trade credit, are the plausible mechanisms through which the COVID-19 pandemic affects firm performance. Profit contraction was more pronounced for firms with a lower ratio of domestic content in exports and state-owned enterprises, while external financing was easier for firms subject to stringent financial constraints despite their lowered trade credit.
Topic:
Trade, COVID-19, and Firms
Political Geography:
China and Asia

43. Agricultural Production as a Coping Strategy during the Covid-19 Pandemic? Evidence from Rural Viet Nam

Author:
Hai-Anh Dang and Cuong Viet Nguyen
Publication Date:
01-2024
Content Type:
Working Paper
Institution:
Economic Research Institute for ASEAN and East Asia (ERIA)
Abstract:
We examine the Covid-19 pandemic-induced negative effects on household welfare in rural Viet Nam. Analysing recent Viet Nam Household Living Standard Surveys spanning 2016–2021, we find robust evidence that lockdown measures resulted in a 3.9% reduction in per capita income and a 2.6 percentage-point increase in the headcount poverty rate of rural households. It also had severe effects on rural households’ wages and self-employed non-farm income, but rural households appeared to have relied on farm income to cope with the lockdowns. Each additional month under lockdown reduced wage income and non-farm income by 2.8% and 6.3% respectively but increased crop income by 9.5%, livestock income by 7.1%, and other farm income by 12.2%.
Topic:
Agriculture, Rural, COVID-19, and Production
Political Geography:
Asia, Vietnam, and Southeast Asia

44. Financing the Pandemic Cycle: Prevention, Preparedness, Response, and Recovery and Reconstruction

Author:
Victoria Fan, Sun Kim, Diego Pineda, and Stefano Bertozzi
Publication Date:
08-2024
Content Type:
Policy Brief
Institution:
Center for Global Development (CGD)
Abstract:
The COVID-19 pandemic exposed critical gaps in the global response to health crises, particularly in the financing of pandemic prevention, preparedness, response, recovery, and reconstruction. This paper presents a comprehensive framework for pandemic financing that spans the entire pandemic cycle, emphasizing the need for timely, adequate, and effective financial resources. The framework is designed to support policymakers in both low- and middle-income countries (LMICs) and high-income nations, providing a guide to appropriate financing tools for each stage of a pandemic, from prevention and preparedness to response and recovery. Key economic concepts such as global public goods, time preference, and incentives are explored to underscore the complexities of pandemic financing. The paper also highlights the importance of timely, accessible, and sustainable financial instruments. The paper lists the pandemic financing instruments used for health during the COVID-19 pandemic, identifying 23 different tools. We also used the IHME 2024 Financing Global Health database to estimate that US$91.6 billion was spent for COVID-19 health support, primarily for response financing, over 2020 to 2023. The COVID-19 pandemic wrought significant economic impacts on the order of trillions of dollars, even as investments in pandemic preparedness to mitigate future risks is relatively small, on the order of $10 billion annually. The paper concludes with policy recommendations, calling for the establishment of a rapid-response financing mechanism, tailored to the unique challenges of pandemics, and a redesign of global health governance to better address these threats.
Topic:
Finance, Crisis Management, Public Health, Pandemic, and COVID-19
Political Geography:
Global Focus

45. Supply Chain Risks in EU-South Korea Relations: Semiconductor Industries

Author:
Sunkung Choi
Publication Date:
06-2024
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
Recent geopolitical crises and the Covid-19 pandemic have exposed weaknesses in global supply chains, leading to disruptions in the flow of goods and creating shortages. The semiconductor shortage crisis between 2020-2021 exacerbated these issues, particularly affecting industries reliant on chips. This crisis prompted governments and industries to prioritise resilience and independence in supply chains. This paper examines the causes, effects and implications of the supply chain crisis, focusing on the economic relations between the EU and South Korea. Both parties recognise the importance of addressing supply chain vulnerabilities and have initiated collaborative efforts to strengthen critical industries like batteries and semiconductors. Moving forward, strategic collaboration between the EU and South Korea will be crucial for effectively addressing the supply chain crisis. Measures such as enhancing supply chain resilience, investing in research and development and fostering technological cooperation are essential for ensuring economic stability and navigating future challenges.
Topic:
European Union, Trade, COVID-19, Supply Chains, and Semiconductors
Political Geography:
Europe, Asia, South Korea, and Germany

46. Remote work in the Finnish Defence Forces: Employees’ experiences of changes in organisational culture

Author:
Tiina Kähkönen
Publication Date:
12-2024
Content Type:
Journal Article
Journal:
Security and Defence Quarterly
Institution:
War Studies University
Abstract:
This paper investigated what changes took place in the organisational culture of the Finnish Defence Forces during the COVID-19 pandemic, and also afterwards when remote work has remained permanently available to staff. A total of 468 employees of the Finnish Defence Forces participated in the study by reporting their experiences of changes in organisational culture. In the analysis of qualitative data, the Gioia methodology, which classifies the data into categories and themes, was used. Remote work creates challenges for leadership, and more equality, changed management competence, and remote work management skills were expected from management. However, it would seem that the organisational culture in the Finnish Defence Forces has developed in such a way that trust within the organisation is even stronger than before. Remote work has developed the personnel’s skills in managing digital tools as well as the employer image of the Finnish Defence Forces in the eyes of their personnel. This is the first study to map employees’ experiences of remote work from the perspective of changes in organisational culture in the Finnish Defence Forces. The research provides novel information that can be utilised in developing the operations and management of organisations. The Finnish Defence Forces have taken significant steps towards a modern work community. There are still some challenges to be solved in terms of how to improve leadership of remote work. A particularly important resource in resilience to change is the trust that is manifested in the organisational culture of the Finnish Defence Forces.
Topic:
Defense Policy, COVID-19, Remote Work, and Organizational Culture
Political Geography:
Europe and Finland

47. Boosting Childhood Vaccination Rates Post-Pandemic: Lessons from Five Countries

Author:
Irene Papanicolas, Robert A. Berenson, and Laura Skopec
Publication Date:
10-2024
Content Type:
Policy Brief
Institution:
Commonwealth Fund
Abstract:
Issue: Childhood vaccination rates fell worldwide during the COVID-19 pandemic. However, reductions in childhood vaccination were not universal, which may be related to differences in vaccine eligibility, vaccine hesitancy, and vaccine administration programs across countries. Goals: Explore how childhood vaccination rates changed during the COVID-19 pandemic in five high-income countries with varying approaches to vaccine policy. Methods: Surveys of in-country experts and analysis of secondary data sources in Australia, Germany, Singapore, the United Kingdom, and the United States. Key Findings and Conclusion: While vaccination rates fell worldwide during the COVID-19 pandemic, the high-income countries in our study maintained high childhood vaccination rates for polio and measles-mumps-rubella (MMR) near or above the herd immunity threshold (80% for polio and 95% for measles). Australia and Singapore, which have the strictest vaccine requirements, boasted the highest polio vaccination rates in both 2018 and 2021. No countries require the human papillomavirus (HPV) vaccination nationwide, but Australia, Singapore, and the U.K. have school-based HPV vaccination programs and high vaccination rates. Strong vaccine requirements, combined with school-based immunization or catch-up programs, may help boost childhood vaccination rates where they lagged during the pandemic.
Topic:
Children, Vaccine, COVID-19, and Healthcare System
Political Geography:
United Kingdom, Germany, Australia, Singapore, and United States of America

48. Learning from experience: Are African governments prepared for another pandemic?

Author:
Tunde A. Alabi and Matthias Krönke
Publication Date:
06-2024
Content Type:
Policy Brief
Institution:
Afrobarometer
Abstract:
According to the Africa Centres for Disease Control and Prevention (CDC) (2020), Africa’s first case of COVID-19 was recorded in Egypt in mid-February 2020. Six months later, the continent’s death toll exceeded 19,000, representing 3% of global COVID-19 mortality. As the virus spread across Africa, governments began to enforce national lockdowns and other restrictions to minimise the impact of the pandemic. In addition to being a global health emergency, COVID-19 had other wide-ranging consequences. Many parts of government bureaucracies, as well as the private sector, shut down except for “essential” workers (Wickham, 2022). Children were unable to go to school for months, increasing dropout rates with knock-on effects on their nutrition and mental health (UNICEF Africa, 2022; Kidman, Breton, Behrman, & Kohler, 2022). Moreover, African governments’ responses to the pandemic affected trends in poverty on the continent. For example, Afrobarometer analyses found that “more restrictive government responses were associated with larger increases in lived poverty” (Mattes & Patel, 2022, p. 1). Faced with economic uncertainty and mobility restrictions, Africans turned to their governments for support and a coordinated public health response to the pandemic. The latest Afrobarometer surveys in 39 countries document how citizens experienced the pandemic, their views on how their governments handled the pandemic, and whether they think their governments are prepared for future health emergencies. Responses indicate that about one in seven households experienced a case of COVID-19, while more than a quarter suffered the loss of a primary source of income. Despite the severe economic effects of the pandemic, fewer than a quarter of households received pandemic related assistance from the government. Most respondents say that the distribution of relief was unfair and that corruption claimed funds intended for the pandemic response. Even so, most Africans say their government managed the pandemic well. When it comes to giving up democratic rights during a pandemic, a majority of Africans accept the use of the military or police to enforce public health mandates, but censoring the media and postponing elections are more controversial steps. Africans are divided in their assessments of their governments’ readiness for a future pandemic, and a majority say additional investments in such preparations are needed.
Topic:
Education, Health, Social Services, Pandemic, and COVID-19
Political Geography:
Africa

49. ‘God is my refuge’: Do education and news consumption prompt Africans to put more trust in the COVID-19 vaccine than in prayer?

Author:
Daniel Tuki
Publication Date:
10-2024
Content Type:
Working Paper
Institution:
Afrobarometer
Abstract:
Using Afrobarometer survey data covering 15 African countries, this study examines the impact of educational attainment and news consumption on Africans’ beliefs regarding whether prayer is more effective than a vaccine in preventing COVID-19. Regression results show that education reduces individuals’ likelihood of believing that prayer is more effective than a vaccine in preventing the disease. This might be because education encourages critical thinking, prompting people to believe more in science, which is evidence-based, rather than in prayer, which is based on supernatural beliefs. Likewise, news consumption reduces individuals’ likelihood of believing that prayer is more effective than a vaccine. This might be because most of the news that Africans encountered during the COVID-19 pandemic emphasised the severity of the disease and encouraged vaccination. Regression results also show that, compared to non-religious individuals, Christians and Muslims were more likely to believe that prayer is more effective than a vaccine, while those practicing ethnic/traditional religion were less likely to hold such beliefs.
Topic:
Education, Health, Religion, Survey, and COVID-19
Political Geography:
Africa

50. Willingness of Zambians to sacrifice democratic principles during a pandemic: The case of COVID-19

Author:
Isaac Newton Bortey
Publication Date:
09-2024
Content Type:
Working Paper
Institution:
Afrobarometer
Abstract:
What is the impact of a pandemic on citizens’ willingness to sacrifice democratic principles? Using the novel COVID-19 pandemic as a case, I assess how the effects of COVID-19 influence Zambians’ willingness to sacrifice democratic principles through censorship of the media, postponement of elections, and the use of security forces to enforce public health mandates. I analyse data from the Round 8 Afrobarometer survey in Zambia (collected in 2020 from 1,200 adults), which included questions on COVID-19. Results of a multiple linear regression and a logistic regression suggest that Zambians’ experiences during the COVID-19 pandemic have an influence on their willingness to sacrifice democratic principles. Those who lost a job due to the pandemic are less willing to accept a sacrifice of democratic principles, while positive assessments of the government’s management of the pandemic and perceptions of the pandemic as serious increase people’s willingness to suspend democratic principles. The findings also suggest that Zambians’ trust in the president and their perceptions of the government as legitimate make them more willing to agree to forfeit a democratic principle, at least when the country is faced with a pandemic.
Topic:
Health, Governance, Democracy, and COVID-19
Political Geography:
Africa and Zambia