ABSTRACT
This study compared the impact of the Global Financial Crisis (GFC) and the COVID-19 pandemic on financial market contagion between developed and emerging markets. A DCC-GARCH model was employed to test the contagion effects of developed and emerging markets using weekly returns for the S&P 500 (US), FTSE-100 (UK), ASX 200 (AUS), IBOVESPA (BRA), BSE SENSEX (IND) and BVM IPC (MEX). The results show that there was a persuasive case made for the integration of markets for efficient financial systems. A crisis occurring in one market holds significant repercussions for any of the connected markets. The findings show that the COVID-19 pandemic affected all the markets more severely than the GFC and contagion effects were more pronounced in emerging markets than in developed markets during the GFC and the pandemic. Consequently, policymakers in emerging markets should implement policies that reduce external vulnerabilities and improve their markets' stability to reduce the impact of contagion risk.
ABSTRACT
This article analyses how emergency regulations protected persons living in urban poverty, particularly unlawful occupiers, from eviction during the COVID-19 pandemic in South Africa. It is set against the socio-economic and environmental effects of unlawful occupiers being forced onto the streets through evictions. It examines the judicial interpretation and application of the COVID-19 regulations on the prohibition of the eviction of unlawful occupiers, together with remedies for compensation for demolished dwellings. Ultimately, the article shows that the regulatory and judicial responses to the pandemic were pro-poor and sought to protect human dignity, the right to life, and the right to an environment that is not detrimental to human health and well-being. The responses safeguarded access to housing at a time when many vulnerable people could have been rendered homeless by eviction and the demolition of their dwellings.