ABSTRACT
PurposeThe purpose of this paper is to study enterprise innovation in the perspective of external supplier relationship. On this purpose, this paper examines the impact of supplier change on enterprise innovation with the moderating role of market competition.Design/methodology/approachUsing 2012–2020 empirical data of Chinese listed manufacturing enterprises, this paper investigates the relationship among supplier change, market competition and enterprise innovation through a two-way interaction model.FindingsThe results show that supplier change has a negative impact on enterprise innovation. And market competition intensifies the negative relationship between supplier change and enterprise innovation. Additional analyses indicate that the main effect and the moderating effect are more significant when the enterprise is non-state-owned or has lower ownership concentration.Originality/valueThis paper studies enterprise innovation from the perspective of external stakeholders. It focuses on supplier relationship in a dynamic variation view, instead of the traditional static ones. Moreover, this paper explores the contingency effect of market competition and gives practical implications for managers to adjust innovation strategy flexibly.
ABSTRACT
PurposeThis study models the effects of the COVID-19 pandemic on the performance of the private health-care sector in the Middle East and North Africa (MENA) countries. This paper aims to address the economic, societal and sustainability of the health-care sector.Design/methodology/approachData were collected from Bloomberg and the sample consists of 534 firm-year observations from 55 firms listed over 2010–2020. The authors apply panel data and control for the country and governance effects.FindingsThe authors found heterogeneous results regarding the three sub-sectors. The pandemic has a negative effect on the accounting and market performances of the "Pharmaceutical companies” and an insignificant impact on "Healthcare Management and Facilities Services.” Moreover, the impact of COVID-19 on health-care firms' performance depends on the country's economic classification and the degree of regulatory and governance frameworks.Research limitations/implicationsFurther studies may consider a larger sample and other regions. It is recommended to address the health-care sector's challenges to invest in new technologies such as "digital twin” and predictive and personalized medicine. It is worth testing model development theory and its effects on speeding up and designing models to ensure the proper functioning and developing mathematics to determine uncertainties in patient data and model predictions.Originality/valueTo the best of the authors' knowledge, this paper is novel as it is unique in modeling the impact of COVID-19 on the health-care public companies in the MENA region. The findings pinpoint firms' and countries' heterogeneous impacts on financial and market performances.
ABSTRACT
This study examines household behavioural responses to the pandemic-induced income shocks regarding their overall spending and spending out of 2020 CARES stimulus payments. Using data from the 2020 Health and Retirement Study COVID-19 project and restricting our sample to older adults (51 years old and above), we show that the negative income shocks experienced during the COVID-19 pandemic put downward pressure on household spending. Results also reveal that, relative to those who did not experience an income shock, stimulus recipients who experienced income losses were more likely to use the stimulus transfer to increase spending, pay off debt, or for other purposes rather than to save.
ABSTRACT
The cause of rural changes, in terms of demographic, technological developments, climate changes, and the Covid-19 pandemic potential to cause vulnerabilities, especially for women as individuals in household members. These must be responded with livelihood resilience by involving the women's role to contribute in the agricultural and non-agricultural sectors. This study aims to (1) describe the vulnerabilities of farmers' households and (2) analyze women's role in household resilience through the use of livelihood assets during the Covid-19 pandemic. This research was conducted in Gubugklakah village, Malang regency as a tourist village affected by the closure of TNBTS tourist visits due to the Covid-19 pandemic. This research used the simple random sampling technique, with total sample of 64 women farmers. Data were analyzed using WarpPLS software. The results showed that farmers' households experienced several vulnerabilities by that the households' livelihood assets: natural, physic, human, social and financial capital can be optimized to achieve a degree of resilience. The women's role in resilience efforts is as the core of the household, because all financial cycles involve housewives' role, such as reducing consumption expenditures, selling jewelry assets, taking savings, involving in farm worker, and others.
ABSTRACT
With support from large databases, informatics, technologies, and advanced analytics we're able to target highly stratified patient subpopulations-eventually at the individual patient level- resulting in smaller and faster clinical trials, fewer adverse outcomes, greater likelihood of a treatment response, higher probability of approval, and lower overall development costs. Ultimately this second movement ensures that we are measuring outcomes that are the most clinically meaningful and relevant as defined by the community living with a given disease;and promises to deliver more feasible, faster clinical trials with better enrollment and retention rates, proportional representation according to disease prevalence by race and ethnicity and other individual characteristics, fewer unplanned and unbudgeted protocol amendments, higher approval rates, and accelerated commercialization. Research conducted by the Tufts Center for the Study of Drug Development and by others indicates that drug development failure rates are the highest they have ever been;the average overall duration of a development program and of a clinical trial by phase is not getting faster-they are taking longer and the durations are less predictable;recruitment and retention rates are at their lowest in history-particularly in oncology and rare diseases (two dominant segments of the R&D pipeline);the perennial 4% to 6% increase in overall R&D spending shows no sign of slowing;and we are observing higher levels of inefficiency and performance volatility.
ABSTRACT
PurposeThe aim of this Real Estate Insight is to comment upon the outlook for real estate investment in the United Kingdom (UK) at the beginning of 2023 in light of global inflation brought about by the pent-up post-pandemic demand push for goods and services and the exacerbation of the Ukraine/Russia conflict.Design/methodology/approachThis Real Estate Insight will comment upon changes in the investor's view of the UK economy and the relative attractiveness of the different property sectors and the shift in thinking post-pandemic.FindingsThis paper will consider a number of scenarios and possibilities flowing from the current uncertainties in the property market and the wider economy.Practical implicationsAs with all property investment, the value and performance of the property assets is interlinked with the use and demand of different property types. Understanding the supply and demand drivers provides investors with a reasoned conjecture of how the property market may perform going forward.Originality/valueThis is a review of the UK market in relation to post-COVID-19 changes to supply and demand at both an operational and investment level.
ABSTRACT
This set of tables introduces new data for national and state-level public elementary and secondary revenues and expenditures for fiscal year (FY) 2021. Specifically, these tables include the following school finance data: (1) revenue and expenditure totals;(2) revenues by source;(3) expenditures by function and object;(4) current expenditures;(5) revenues and current expenditures per pupil;(6) expenditures from Title I funds;and (7) revenues and expenditures from COVID-19 Federal Assistance Funds. The tables chosen for this report demonstrate the range of information available when using the National Public Education Financial Survey (NPEFS). [For "Revenues and Expenditures for Public Elementary and Secondary Education: FY 20. Finance Tables. NCES 2022-301," see ED619372.]
ABSTRACT
This article uses data from several publicly available databases to show that the distribution of intellectual property for frontier technologies, including those useful for sustainable development, is very highly skewed in favor of a handful of developed countries. The intellectual property rights (IPR) regime as it exists does not optimize the global flow of technology and know-how for the attainment of the sustainable development goals and is in need of updating. Some features of the Fourth Industrial Revolution imply that the current system of patents is even more in need of reform than before. COVID-19 vaccines and therapies and the vast inequality in access to these has highlighted the costs of inaction. We recommend several policy changes for the international IPR regime. Broadly, these fall into three categories: allowing greater flexibility for developing countries, reassessing the appropriateness of patents for technologies that may be considered public goods, and closing loopholes that allow for unreasonable intellectual property protections.
ABSTRACT
In England, "easements,” introduced via the Coronavirus Act 2020, were brought in at the start of the pandemic to support English local authority adult social care services. They enabled local authorities to suspend some of their mandatory duties under the Care Act 2014. Easements were only adopted by eight local authorities and for short periods, and the provision was rescinded in late 2021. This article examines why a sample of 16 local authorities, some of which were statistically close to the eight local authorities that did decide to use easements, decided not to do so. It draws on data from interviews undertaken in 2021 with Directors of Adult Services and Principal Social Workers that explored their decision-making about using easements. It also outlines their preparations prior to the pandemic reaching England, how they had operated using "flexibilities” within the Care Act thus not needing to adopt easements, and their views on those authorities that had adopted them.
ABSTRACT
Background: Financial protection of populations against healthcare costs is one of the fundamental responsibilities of governments. This study aimed to investigate the incidence of catastrophic health expenditures (CHE) and it's affecting factors in hospitalized patients with delta variant of COVID-19. Methods: In this cross-sectional study, we included 400 hospitalized COVID-19 patients at Kosar Hospital of Semnan in 2022, using a researcher-made checklist. Based on qualitative nature of the variables, chi-square test was used to investigate the statistical associations between the demographic/background characteristics and the incidence of CHE. Results: On average, COVID-19 imposed 1833.43 USD direct medical costs per one hospitalized patient. The ratio of direct-medical costs to household's non-food expenses was 2.35, and 61% (CI:±4.78%) of the patients were subject to CHE. Besides, residence place, basic insurance type, benefitting from supplementary insurance, suffering from underlying diseases, hospitalization in ICU, falling into a coma, facing pulmonary failure, and performing hemoperfusion had significant associations with CHE (P<0.05). Conclusion: The incidence of CHE in hospitalized COVID-19 patients was undesirable, which may be due to geographical, economical, and occupational inequalities apart from the factors related to the severity of the disease. So, health policymakers should pay attention to the provision of proper financial risk protection policies to make the health insurance system more efficient and appropriate.
ABSTRACT
This study investigates investment-cash flow sensitivity during the COVID-19 economic crisis. Using an international sample of publicly listed firms, we find that the sensitivity of capital expenditures to cash flows is significantly reduced during the crisis. When we split the sample into strongly and weakly affected countries, we find that firms in countries affected more seriously by COVID-19 exhibit lower investment responsiveness to cash flows. We further find that investment-cash flow sensitivity is diminished when government aid is greater, firms have more cash on hand, and investment opportunities decline. Our results survive a host of robustness checks. This study contributes to the discussion on the impact of COVID-19 on corporate policies within an international framework.
ABSTRACT
PurposeThe main motivation of the present study is to understand the severity of the effect of health shock on Iran's oil economy and analyze the role of government under these conditions.Design/methodology/approachDynamic stochastic general equilibrium (DSGE) models can show the precise interactions between market decision-makers in the context of general equilibrium. Since the duration of the virus outbreak and its effect on the economy is not known, it is more appropriate to use these models.FindingsThe results of the survey of hands-on policies scenarios compared to the state of hands-off policy indicate that the effect of government expending shocks on the economy under pandemic disease conditions has much less feedback on macroeconomic variables.Originality/valueAs a proposed policy, it is recommended that the government play a stabilizing role under pandemic disease conditions.Key messages There is no study regarding health shock and its economic effects in Iran using DSGE models. Also, in foreign studies, the health shock in an oil economy has not been modeled.The general idea in the present study is how the prevalence of a pandemic infectious disease affects the dynamics of macroeconomic variables.In three different scenarios, according to the persistence of health disaster risk and the deterioration rate of health capital due to this shock, the model is simulated.In modeling pandemic diseases, quarantine hours are considered as part of the total time of individuals.According to the research findings, it is recommended that the government, as a policy-maker, play a stabilizing role under pandemic crises conditions.
ABSTRACT
PurposeThe empirical analysis dealt in this paper emphasizes on the impact of military expenditures on out of pocket (OOP) healthcare payments. A sizeable body of defence economics literature has investigated the trade-off between military and public health expenditure, by testing the crowding-out or growth-stimulating hypothesis;does military expenditure scaling up crowd-out or promote governmental resources for social and welfare programs, including also state health financing?Design/methodology/approachIn this study, panel data from 2000 to 2018 for 129 countries is used to examine the impact of military expenditure on OOP healthcare payments. The dataset of countries is categorized into four income-groups based on World Bank's income-group classification. Dynamic panel data methodology is applied to meet study objectives.FindingsThe findings of this study indicate that military expenditure positively affects OOP payments in all the selected groups of countries, strongly supporting in this way the crowding-out hypothesis whereby increased military expenditure reduces the public financing on health. Study econometric results are robust since different and alternative changes in specifications and samples are applied in our analysis.Practical implicationsUnder the economic downturn backdrop for several economies in the previous decade and on the foreground of a potential limited governmental fiscal space related to the Covid-19 pandemic adverse economic effects, this study provides evidence that policy-makers have to adjust their government policy initiatives and prioritize Universal Health Coverage objectives. Consequently, the findings of this study reflect the necessity of governments as far as possible to moderate military expenditures and increase public financing on health in order to strengthen health care systems efficiency against households OOP spending for necessary healthcare utilization.Originality/valueDespite the fact that a sizeable body of defence economics literature has extensively examined the impact of military spending on total and public health expenditures, nevertheless to the best of our knowledge there is no empirical evidence of any direct effect of national defence spending on the main private financing component of health systems globally;the OOP healthcare payments.
ABSTRACT
PurposeThe article examines the interplay between welfare state regimes and the distribution of welfare between generations.Design/methodology/approachUsing data from 2017 for 24 European countries on six standard of living dimensions, the authors investigate the intergenerational welfare distribution in a two-stage procedure: (1) the authors compare the intergenerational welfare distribution across welfare state regimes using their existing typologies and find a moderate nexus. Therefore, (2) the authors employ clustering procedure to look for a new classification that would better reflect the cross-country variation in the intergenerational welfare division.FindingsThe authors find a complex relationship between the welfare state model and welfare distribution across generations and identify the policy patterns that shape it. Continental and liberal regimes are quite similar in these terms and favour the elderly generation. Social-democratic and CEE regimes seem to be a bit more balanced. COVID-19 pandemic will probably increase the intergenerational imbalance in terms of welfare distribution in favour of the elderly.Originality/valueIn contrast to the majority of previous studies, which employ inputs (social expenditures) or outputs (benefits, incomes), the authors use intergenerational balance indicators reflecting living conditions of a given generation as compared to the reference point defined as an average situation of all generations.
ABSTRACT
Este artículo es el resultado de un estudio de las propuestas de política pública presentados en el Congreso de Costa Rica para amortiguar o revertir los efectos socioeconómicos y de salud provocados por la pandemia del Covid-19. De todas las propuestas presentadas en los primeros seis meses de la declaratoria de emergencia ocasionada por el virus, en el año 2020, más de la mitad (194 en total) intentan mitigar uno o varios de los efectos de tal enfermedad infecciosa. Aún en la multiplicidad de protección a sectores específicos que se tratan de salvaguardar (33), hay una marcada tendencia en la regulación financiera-fiscal y de actuación en torno a la reactivación productiva. Pese a esto, una parte sustancial de las políticas planteadas para convertirse en leyes, no tienen un sustento financiero para ejecutarlas.Alternate :This article is the result of a study of the public policy proposals presented in the Costa Rican Congress to cushion or reverse the socioeconomic and health effects caused by the Covid-19 pandemic. Of all the proposals presented in the first six months of the emergency declaration caused by the virus, in the year 2020, more than half (194 total) try to mitigate one or more of the effects of such an infectious disease. Even in the multiplicity of protection for specific sectors that are sought to be safeguarded (33), there is a marked trend in financial-fiscal regulation and action around productive reactivation. Despite this, a substantial part of the policies proposed to become laws do not have financial support to execute them.
ABSTRACT
We examine the net benefits of social distancing to slow the spread of COVID-19 in USA. Social distancing saves lives but imposes large costs on society due to reduced economic activity. We use epidemiological and economic forecasting to perform a rapid benefit–cost analysis of controlling the COVID-19 outbreak. Assuming that social distancing measures can substantially reduce contacts among individuals, we find net benefits of about $5.2 trillion in our benchmark case. We examine the magnitude of the critical parameters that might imply negative net benefits, including the value of statistical life and the discount rate. A key unknown factor is the speed of economic recovery with and without social distancing measures in place. A series of robustness checks also highlight the key role of the value of mortality risk reductions and discounting in the analysis and point to a need for effective economic stimulus when the outbreak has passed.
ABSTRACT
This paper analyses determinants of household savings in a model based on an extension of the disequilibrium savings theory. These extensions follow from the life-cycle, permanent-income and Ricardian-equivalence theories. Based on panel data of 20 countries from the period 2000–2020, fixed-effect least squares estimation procedures are used. The analysis provides evidence that negative interest rates lead to a statistically and economic significant increase in savings. This implies that stimulating household consumption with a monetary policy of negative interest rates is counter-productive. The positive effect of income uncertainty and lagged saving rates gets smaller for negative interest rates, weakening the support for the disequilibrium-savings theory. Larger government deficits increase savings even more when rates are negative, strengthening the Ricardian equivalence effect. The effect of negative interest on the predictions of the life-cycle and permanent-income theories is mixed.
ABSTRACT
Yuri Kochiyama (1921–2014) On March 11, 2020, roughly three months after the first death attributed to the newly discovered SARS-CoV-2 (COVID-19) virus was confirmed in Wuhan, China, the World Health Organization elevated its characterization of the ensuing outbreaks from "public health emergency of international concern" (PHEIC) to global pandemic. [...]we editors, along with the contributors to this special issue, acknowledge from the outset that the formation of Asian American studies—along with ethnic studies and gender/sexuality studies—was first and foremost a paradigmatic endeavor, one that, as Lisa Lowe productively characterizes it, remains "key to thinking in comparative relational ways about race, power, and interconnected colonialisms. More than a few students found themselves spending more time in the community than in school. [...]were born a host of Asian American community organizations and services, as well as an increasing vector of Asian American political activism in defense of our communities. "4 Such reckonings, intimately tied to the formation of Asian American studies as a critical race-based interdiscipline born out of 1960s civil rights movements and liberation fronts, encapsulate the field's aspirational politics.
ABSTRACT
Despite the challenges, remittances frequently remain a primary source of economic support for those left behind, as well as for national development of post-conflict countries. [...]situations in the wake of recent conflicts are known for heightened remittance flows.3 As a large share of the remittance flows in conflict settings occurs through informal channels, the importance of remittances in these economies has often been underestimated. A focus on broader settings that can provide security, justice, and economic sustenance to individuals and communities affected by the crisis has been reflected in the human security approach6 to post-conflict7 development.8 Remittances can be central to fighting poverty—by diversifying household income sources, providing capital for productive investment and facilitating local markets, and funding education, health, and other social expenses.9 Remittances can contribute to post-conflict recovery in the long term. "20 Horst has shown that among the Somali diaspora in Norway, most political engagements do not occur through state institutions but take place on sub-national levels, including individual and group money transfers and certain humanitarian initiatives.21 Somali diaspora members mediate with clan leaders and elders who can contribute to reconciliation processes through customary mechanisms such as compensatory payments, but as noted above, such involvement can also sustain continued warfare.22 While the role of diaspora in post-conflict reconstruction efforts can be significant, diaspora can also remain an "under-utilized resource" whose strong emotional connection to their home country is offset by unstable institutional environments.23 Weak formal institutions and regulatory frameworks may offer little systematic support for entrepreneurship development, which is constrained by high transaction and compliance costs. Informal institutions and cultural attitudes remain important in the post-conflict assimilation of returning migrants who bring with them beliefs and understandings from their countries of settlement, resulting in hybrid norms and institutions.24 Many forcibly displaced and returning migrants may also lack properly transferable professional skills.25 The transfer of social and political remittances does not always signify "diffusion of democracy"—the effects of returning migrants to democratization depend on their experience of political mobilization as migrant workers, as well as on the status of democratic values in the political order of the host country, among other factors.26 Changing perspectives on conflict-affected remittances Remittances became central in the migration scholarship only in the 1990s, when the analytical focus shifted from migration as a result of [End Page 44] decision-making of rational individuals towards a more nuanced view of the role of households, social networks, and community in migration processes.