COVID-19 and its short-term informational impact on the stock markets of the Pacific Alliance countries.

The processes of localisation and investment optimisation present a challenge when it comes to emerging markets. The phenomena of low diversification and efficiency in some economies do not allow structurers to adequately visualize the dynamics and risks involved. This article aims to establish, by means of a recursive VAR, the transitive impacts that exist between the stock markets of the countries that make up the Pacific Alliance: Chile, Colombia, Mexico and Peru. The findings show that Mexico and Chile are the markets with the greatest depth and liquidity and are therefore the first to react to a random and exogenous shock such as the one caused by the informational impact of COVID-19, while the markets of Colombia and Peru experience a high degree of dependence on the impacts caused in the markets of countries with higher levels of efficiency and depth. Supplementary Information: The online version contains supplementary material available at 10.1007/s43546-023-00469-6.

Stock markets' reaction to COVID-19: the joint impact of uncertainty avoidance culture and government response–evidence from emerging countries

Purpose: The authors examine whether the uncertainty avoidance culture and the stringency of government response play a role in shaping the stock market's response to coronavirus disease 2019 (COVID-19). The authors find that investors' response to the pandemic will not only depend on their instinct of uncertainty aversion but also on their expectation about the effectiveness of the government measures. The uncertainty avoidance culture amplifies the irrational actions of investors. However, harsh government responses will weaken this effect. Harsh government responses also send a negative signal to the market about the extent of the pandemic and the economic damage caused by anti-COVID measures. Governments need to be balanced in imposing anti-COVID measurements to preserve market confidence. Design/methodology/approach: In this article, the authors investigate whether the stock market volatility of emerging countries is simultaneously driven by two factors: the uncertainty-aversion culture of investors in a country and the stringency of the government's response to the pandemic. The authors conduct an empirical study on a sample of 20 emerging countries during the period from January 2020 to March 2021. Findings: The authors find that the national-level uncertainty aversion amplifies the irrational actions of investors during the period of crisis. However, harsh government responses will weaken this effect. The authors' findings show evidence that investors' response to the pandemic will not only depend on their instinct of uncertainty aversion but also on their expectation about the effectiveness of the government measures. Although harsh government responses can stabilize the investors' sentiment in countries with high levels of uncertainty aversion, they also send a negative signal to the market about the extent of the pandemic as well as the economic damage caused by anti-COVID measures. Originality/value: First, the study's results complement evidence from existing studies on the effect of uncertainty avoidance culture in determining stock market responses to COVID-19. Second, an important difference from previous studies, this paper adds to the behavioral finance literature by showing that investors' investment decisions in the face of economic uncertainty are not driven solely by their cultural values but also by their expectation about the effectiveness of the government policy. During a crisis, when the market has neither rational information nor adequate experience to forecast the future, the government must play an important role in stabilizing investors' sentiment and reactions. © 2021, Emerald Publishing Limited.

Tryst with the unknown: navigating an unplanned transition to online examinations

Purpose: This paper aims to investigate the major challenges faced and lessons learned during the unplanned transition to online examinations (OE) at a traditional university following the COVID-19 pandemic. Design/methodology/approach: This exploratory study involved two distinct samples (110 students and 30 instructors) drawn from a large public university and triangulated the qualitative and quantitative data to analyze how the university navigated the unplanned transition to OE. Findings: The university faced several challenges related to a lack of proper institutional infrastructure, non-familiarity of the stakeholders with OE, lack of effective communication, limited student access to technology resources because of socio-economic impediments and academic integrity issues. Practical implications: Short- and medium-term recommendations are proposed to enable continuity of teaching and learning in future emergency situations, including the establishment of technology-enabled exam centers, as well as strategies to assure instructor readiness for OE, academic integrity among students and the validity of the evaluation procedure for future OE. Originality/value: This study shows how the unplanned transition to OE in a public university exposed new challenges for conducting OE, particularly in resource challenged emerging countries, where full integration of OE was a new experience and prior knowledge of potential issues was lacking. © 2022, Emerald Publishing Limited.

The impact of the media on tourism development and income inequality

This paper examines whether the relationship between tourism development and income inequality is sensitive to the media environment. Using panel data from 88 countries for the period 1996 to 2020, we find that countries with uncensored media environments experience lower income inequality as the tourism industry develops. We also find that a favourable media environment enhances tourism development. Further analysis shows that asymmetries in a hostile media environment;namely, media biasedness, media corruption, and harassment of journalists, inhibit tourism development, particularly in emerging countries. This paper calls for strong support for press freedom to develop the tourism industry as countries emerge from the adverse effects of the COVID-19 pandemic.

The impact of the media on tourism development and income inequality

This paper examines whether the relationship between tourism development and income inequality is sensitive to the media environment. Using panel data from 88 countries for the period 1996 to 2020, we find that countries with uncensored media environments experience lower income inequality as the tourism industry develops. We also find that a favourable media environment enhances tourism development. Further analysis shows that asymmetries in a hostile media environment;namely, media biasedness, media corruption, and harassment of journalists, inhibit tourism development, particularly in emerging countries. This paper calls for strong support for press freedom to develop the tourism industry as countries emerge from the adverse effects of the COVID-19 pandemic. [ FROM AUTHOR]

Tryst with the unknown: navigating an unplanned transition to online examinations

Purpose>This paper aims to investigate the major challenges faced and lessons learned during the unplanned transition to online examinations (OE) at a traditional university following the COVID-19 pandemic.Design/methodology/approach>This exploratory study involved two distinct samples (110 students and 30 instructors) drawn from a large public university and triangulated the qualitative and quantitative data to analyze how the university navigated the unplanned transition to OE.Findings>The university faced several challenges related to a lack of proper institutional infrastructure, non-familiarity of the stakeholders with OE, lack of effective communication, limited student access to technology resources because of socio-economic impediments and academic integrity issues.Practical implications>Short- and medium-term recommendations are proposed to enable continuity of teaching and learning in future emergency situations, including the establishment of technology-enabled exam centers, as well as strategies to assure instructor readiness for OE, academic integrity among students and the validity of the evaluation procedure for future OE.Originality/value>This study shows how the unplanned transition to OE in a public university exposed new challenges for conducting OE, particularly in resource challenged emerging countries, where full integration of OE was a new experience and prior knowledge of potential issues was lacking.

Preparedness for Innovation in Times of Crisis: Lessons From the Initial COVID-19 Pandemic Response

In this paper, we explore preparedness strategies for the initial response to crisis-driven innovation, in the context of the Coronavirus Disease 2019 (COVID-19) pandemic. Using insights from semi-structured interviews with public health strategists, we apply analytic induction to investigate preparedness to innovate, and the main forms of crisis-driven innovation applied in the initial COVID-19 response. We thematically analyze measures of preparedness for the initial COVID-19 response and propose a framing aimed at boosting readiness for crisis-driven innovation. Our study finds themes on COVID-19 preparedness strategies involving combat-inspired public policies from assessed security, cyclic-oriented public projections of actionable safeguards, and continuity-driven public provisions for anticipated situations. The study also captures themes on crisis response as crisis-driven innovation in relation to digitalized, integrated, and tailored public services, initiatives, and systems. Our paper concludes with discussions on the implications of innovation intelligence for crisis preparedness, “ripple-inspired inside-out” view of crisis-driven innovation, “response as innovation” framings, and suggestions for further studies.

The Re-Emergence of Sovereign Spread in Emerging Countries in the Post-Covid-19 Economy

The Covid-19 crisis and its economic consequences for emerging countries have highlighted the role of robust, inclusive, and equitable elements of multiple contingency lines to keep these economies away from falling into a devastating cycle of rising sovereign spread. This study first summarizes the crisis-fighting performance of the IMF and eight major RFAs since the outbreak of Covid-19. Then our theoretical model focuses on the deterioration of market expectations (namely about future global economic growth, funding conditions in key currencies and public default) influence on the sovereign spread, by employing a structural panel Vector Autoregression. The results showed that sovereign spread depended not only on the global and local growth or the external funding environment but on the market sentiment as well. Also, the results pointed out the importance of financial supports by international actors like the IMF and partially the RFAs in managing the sovereign spread.

Analyzing the impact of the COVID-19 pandemic on vegetable market supply in Northwestern Ethiopia

Purpose>Due to global trade and transportation, the COVID-19 pandemic has rapidly reached all corners of the world;it has most impacted the poor communities and rural areas with limited or no access to recovery. This paper aims to understand the pandemic's impact on the market supply of vegetables (agrifood) in Ethiopia and other countries in sub-Saharan Africa and to implement scientifically based recommendations that can improve the challenges caused by the pandemic and improve the livelihoods of vegetable producers.Design/methodology/approach>This study assessed the major incidents that follow the occurrence of the COVID-19 pandemic in Ethiopia with the factors that significantly influence onion market supply in the Mecha district of Northwestern Ethiopia using linear multiple regression.Findings>The study revealed that producers, processors, local collectors, cooperatives, wholesalers, retailers and consumers are the main actors. The most important difference that happened on the onion market channel after the outbreak of coronavirus was brokers were removed from the market channel after the pandemic and this saved the cost producers pay as a commission. The pandemic disrupted input distribution, extension and cooperative services and created labor scarcity. Access to market, postharvest value addition, price and marketing contract were significant factors that influence the market supply of onion. The study identified the need for policy interventions by the government to overcome the postpandemic challenges and ensure the sustainable development of onion production and marketing in the Mecha district.Research limitations/implications>The limitations of the study are primarily related to the methodology as data are collected at a single moment in time. However, the study observes that those changes after the pandemic are better understood if we collect data at different time. Therefore, the future study needs to provide longitudinal data to examine stability of response and to observe performance of the market that occur over time.Originality/value>This original research is the first to study the impacts of the COVID-19 pandemic in Northwestern Ethiopia. The data used in the analysis are primary.

An Analysis of the Stock Market Volatility Spread in Emerging Countries

This article provides results on the volatility spread for stock markets in emerging economies. Empirical studies on determining or predicting volatility in national and international financial markets provide information for investors. The aim of this study is also to analyze volatility spreads from the United States of America, France, Germany, Japan Turkey, China, India, Indonesia from emerging markets within the scope of EGARCH models, which take into account the asymmetric effects using daily stock returns for the period of January 2008 - April 2020. The a symmetric effect parameter (λ or μt-i/ht-1) appears to be negative and statistically significant at 1% for all countries, except the Shanghai Composite Stock Exchange, China. This result shows that the asymmetric effect, or the leverage effect in other words, is valid in stock markets other than China. The volatility spreads from the Dow Jones Industrial Average Index – USA to Borsa Istanbul and the Shanghai Stock Exchange – China. Also, the S & P 500 Index – USA is significant on the volatility spread of the Borsa Istanbul and Shanghai Stock Exchange. The volatility spread between Jakarta Stock Exchange - Indonesia and Borsa Istanbul is two-way and mutual.

Multilevel evidence on how policymakers may reduce avoidable deaths due to COVID-19: the case of Brazil

We propose a hierarchical linear method to investigate the effectiveness of social distancing measures. By considering the COVID-19 data as a two-level structure, we are able to demonstrate a significant reduction of the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) cases as a direct consequence of lockdown measures adopted by some states in Brazil. The multilevel modelling is the most appropriate method for the case of Brazil due to the fact that political battles between federal and State government leaders have led to the adoption of lockdown measures with distinct levels of flexibility adopted by each of its 27 states. During the outbreak of such a novel and highly contagious disease, decisions made by policymakers either prevent or increase the number of avoidable deaths. Thus, our results are also potentially useful to convince policymakers to adopt reasonable policy measures to shorten the COVID-19 pandemic in the biggest Latin American country. Copyright © 2022 Inderscience Enterprises Ltd.

Tryst with the unknown: navigating an unplanned transition to online examinations

Purpose This paper aims to investigate the major challenges faced and lessons learned during the unplanned transition to online examinations (OE) at a traditional university following the COVID-19 pandemic. Design/methodology/approach This exploratory study involved two distinct samples (110 students and 30 instructors) drawn from a large public university and triangulated the qualitative and quantitative data to analyze how the university navigated the unplanned transition to OE. Findings The university faced several challenges related to a lack of proper institutional infrastructure, non-familiarity of the stakeholders with OE, lack of effective communication, limited student access to technology resources because of socio-economic impediments and academic integrity issues. Practical implications Short- and medium-term recommendations are proposed to enable continuity of teaching and learning in future emergency situations, including the establishment of technology-enabled exam centers, as well as strategies to assure instructor readiness for OE, academic integrity among students and the validity of the evaluation procedure for future OE. Originality/value This study shows how the unplanned transition to OE in a public university exposed new challenges for conducting OE, particularly in resource challenged emerging countries, where full integration of OE was a new experience and prior knowledge of potential issues was lacking.

The closing of a historical cycle and the reconfiguration of the international system in a multi-order

Covid-19 accelerated the transformations that have been taking place in the international life since 2008. These have been materialized in, a competition between economic giants, a weakening in the world governance, a reconfiguration of capitalism with technology and a breakdown of the trust of societies in democracy This has led to a new reconfiguration of material capacities, institutions and ideas, and demonstrates that what the world is currently experiencing is the closing of a historical cycle and the weakening of the hegemonic structure of the United States. Based on this panorama, the opportunities and challenges presented by the new emerging countries are analyzed in the light of the concept of power, illustrated by critical theory.

Estimating the COVID-19 Spread Through Real-time Population Mobility Patterns: Surveillance in Low- and Middle-Income Countries.

BACKGROUND: On January 21, 2020, the World Health Organization reported the first case of severe acute respiratory syndrome coronavirus 2, which rapidly evolved to the COVID-19 pandemic. Since then, the virus has also rapidly spread among Latin American, Caribbean, and African countries. OBJECTIVE: The first aim of this study is to identify new emerging COVID-19 clusters over time and space (from January 21 to mid-May 2020) in Latin American, Caribbean, and African regions, using a prospective space-time scan measurement approach. The second aim is to assess the impact of real-time population mobility patterns between January 21 and May 18, 2020, under the implemented government interventions, measurements, and policy restrictions on COVID-19 spread among those regions and worldwide. METHODS: We created a global COVID-19 database, of 218 countries and territories, merging the World Health Organization daily case reports with other measures such as population density and country income levels for January 21 to May 18, 2020. A score of government policy interventions was created for low, intermediate, high, and very high interventions. The population's mobility patterns at the country level were obtained from Google community mobility reports. The prospective space-time scan statistic method was applied in five time periods between January and May 2020, and a regression mixed model analysis was used. RESULTS: We found that COVID-19 emerging clusters within these five periods of time increased from 7 emerging clusters to 28 by mid-May 2020. We also detected various increasing and decreasing relative risk estimates of COVID-19 spread among Latin American, Caribbean, and African countries within the period of analysis. Globally, population mobility to parks and similar leisure areas during at least a minimum of implemented intermediate-level control policies (when compared to low-level control policies) was related to accelerated COVID-19 spread. Results were almost consistent when regional stratified analysis was applied. In addition, worldwide population mobility due to working during high implemented control policies and very high implemented control policies, when compared to low-level control policies, was related to positive COVID-19 spread. CONCLUSIONS: The prospective space-time scan is an approach that low-income and middle-income countries could use to detect emerging clusters in a timely manner and implement specific control policies and interventions to slow down COVID-19 transmission. In addition, real-time population mobility obtained from crowdsourced digital data could be useful for current and future targeted public health and mitigation policies at a global and regional level.