Effects of COVID-19 on Global Financial Markets: Evidence from Qualitative Research for Developed and Developing Economies.

The research aims to prioritize the pandemic's impact on the financial markets of developed and developing economies using a multi-criteria decision-making approach. The results revealed that COVID-19's pandemic effects on financial markets differ between developed and developing nations. COVID-19 pandemic affects developed countries' financial markets more through supply reduction, demand reduction, and economic instability. Regarding developing nations, confidence and expectations, changes in consumption patterns, and the bandwagon effect are the three most significant impacts of COVID-19 pandemic on financial markets. The best decisions to lower the effect of COVID-19 pandemic on developed nations' financial markets are the declaration of the stimulus package and support of small-and-medium-sized enterprises. Contrastingly, in developing countries, support for vulnerable households and declaration of the stimulus package are the best decisions to combat COVID-19's negative impact on their financial markets. As practical policy implications for lowering COVID-19's negative impact on financial markets, the promotion of new financing instruments, reconstruction of the relationship between public and private sectors, and support of vulnerable households and enterprises are highly recommended.

La recherche vise à hiérarchiser l'impact de la pandémie sur les marchés financiers des économies développées et en développement en utilisant une approche décisionnelle à plusieurs critères. Les résultats ont révélé que les effets du COVID-19 sur les marchés financiers diffèrent entre les nations développées et en développement. Le COVID-19 affecte davantage les marchés financiers des pays développés par la réduction de l'offre, la réduction de la demande et l'instabilité économique. En ce qui concerne les pays en développement, la confiance et les attentes, les changements dans les habitudes de consommation et l'effet boule de neige sont les trois impacts les plus significatifs causé par le COVID-19 sur les marchés financiers. Les meilleures décisions pour réduire l'effet du COVID-19 sur les marchés financiers des pays développés ont été la déclaration de plans de relance et le soutien aux petites et moyennes entreprises. En revanche, dans les pays en développement, le soutien aux ménages vulnérables et la déclaration de plans de relance apparaissent comme les meilleures décisions pour combattre l'impact négatif du COVID-19 sur leurs marchés financiers. En ce qui concerne les implications politiques pratiques pour réduire l'impact négatif du COVID-19 sur les marchés financiers, la promotion de nouveaux instruments de financement, la reconstruction de la relation entre les secteurs public et privé, et le soutien des ménages et des entreprises les plus vulnérables sont fortement recommandés.

Role of natural resources utilization efficiency in achieving green economic recovery: Evidence from BRICS countries

The main goal of this article is to evaluate and analyze the effect of natural resources utilization efficiency on green economic growth in 5 emerging economies (Brazil, Russia, India, China, and South Africa) in the BRICS group. The panel data approach is employed to estimate coefficients by calculating the resource activity coefficient and gathering annual data for 2000–2020. The major results confirm that natural resource utilization efficiency accelerates the green economic growth of BRICS countries. Moreover, the presence of an uni-directional causal linkage from resource utilization efficiency to green economic growth is concluded, meaning that in the short-term, natural resource utilization efficiency can cause green economic growth in BRICS economies. As practical policies, promoting green FDI to increase green technologies transfer, green financing to promote technological innovation, and implementing the principle of 3Rs (Reduce, reuse, recycle) are recommended.

The Speed and Quality of China’s Economic Growth during the Covid-19 Pandemic

The purpose of this study is to understand the speed and quality of China's economic growth during the COVID-19 pandemic. This study defines high-quality economic growth as a growth rate with a low variance and adopts quarterly time-series data for China's real GDP growth rate to analyze its regime switches and structural changes by estimating a conditional Markov chain model. The study further utilizes the estimated parameters to predict the smoothed probabilities of each of four joint states for China's real GDP growth rate from 2021 Q4 to 2025 Q3. The primary finding of this study is that, during the period from 2020 Q1 to 2021 Q3, the outbreak of COVID-19 shocked China's economy and its economic growth rate fluctuated dramatically, which resulted in its variance being relatively high. However, China's economic growth rate is very likely to gradually stabilize (as evidenced by a low variance) and to grow at a medium-to-high speed with high quality during the forecast period.

Cluster randomised controlled trial to assess a tailored intervention to reduce antibiotic prescribing in rural China: study protocol.

INTRODUCTION: Up to 80% of patients with respiratory tract infections (RTI) attending healthcare facilities in rural areas of China are prescribed antibiotics, many of which are unnecessary. Since 2009, China has implemented several policies to try to reduce inappropriate antibiotic use; however, antibiotic prescribing remains high in rural health facilities. METHODS AND ANALYSIS: A cluster randomised controlled trial will be carried out to estimate the effectiveness and cost effectiveness of a complex intervention in reducing antibiotic prescribing at township health centres in Anhui Province, China. 40 Township health centres will be randomised at a 1:1 ratio to the intervention or usual care arms. In the intervention group, practitioners will receive an intervention comprising: (1) training to support appropriate antibiotic prescribing for RTI, (2) a computer-based treatment decision support system, (3) virtual peer support, (4) a leaflet for patients and (5) a letter of commitment to optimise antibiotic use to display in their clinic. The primary outcome is the percentage of antibiotics (intravenous and oral) prescribed for RTI patients. Secondary outcomes include patient symptom severity and duration, recovery status, satisfaction, antibiotic consumption. A full economic evaluation will be conducted within the trial period. Costs and savings for both clinics and patients will be considered and quality of life will be measured by EuroQoL (EQ-5D-5L). A qualitative process evaluation will explore practitioner and patient views and experiences of trial processes, intervention fidelity and acceptability, and barriers and facilitators to implementation. ETHICS AND DISSEMINATION: Ethical approval was obtained from the Biomedical Research Ethics Committee of Anhui Medical University (Ref: 20180259); the study has undergone due diligence checks and is registered at the University of Bristol (Ref: 2020-3137). Research findings will be disseminated to stakeholders through conferences and peer-reviewed journals in China, the UK and internationally. TRIAL REGISTRATION NUMBER: ISRCTN30652037.

The impact of COVID-19 on primary health care and antibiotic prescribing in rural China: qualitative study.

BACKGROUND: In China, the primary health care (PHC) system has been designated responsible for control and prevention of COVID-19, but not treatment. Suspected COVID-19 cases presenting to PHC facilities must be transferred to specialist fever clinics. This study aims to understand the impact of COVID-19 on PHC delivery and on antibiotic prescribing at a community level in rural areas of central China. METHODS: Qualitative semi-structured interviews were conducted with 18 PHC practitioners and seven patients recruited from two township health centres and nine village clinics in two rural residential areas of Anhui province. Interviews were transcribed verbatim and analysed thematically. RESULTS: PHC practitioners reported a major shift in their work away from seeing and treating patients (due to government-mandated referral to specialist Covid clinics) to focus on the key public health roles of tracing, screening and educating in rural areas. The additional work, risk, and financial pressure that PHC practitioners faced, placed considerable strain on them, particularly those working in village clinics. Face to face PHC provision was reduced and there was no substitution with consultations by phone or app, which practitioners attributed to the fact that most of their patients were elderly and not willing or able to switch. Practitioners saw COVID-19 as outside of their area of expertise and very different to the non-COVID-19 respiratory tract infections that they frequently treated pre-pandemic. They reported that antibiotic prescribing was reduced overall because far fewer patients were attending rural PHC facilities, but otherwise their antibiotic prescribing practices remained unchanged. CONCLUSIONS: The COVID-19 pandemic had considerable impact on PHC in rural China. Practitioners took on substantial additional workload as part of epidemic control and fewer patients were seen in PHC. The reduction in patients seen and treated in PHC led to a reduction in antibiotic prescribing, although clinical practice remains unchanged. Since COVID-19 epidemic control work has been designated as a long-term task in China, rural PHC clinics now face the challenge of how to balance their principal clinical and increased public health roles and, in the case of the village clinics, remain financially viable.