ABSTRACT
The COVID-19 pandemic has resulted in an unprecedented shock to firms with adverse consequences for existing productive capacities. At the same time, digitalization has increasingly been touted as a key pathway for mitigating economic losses from the pandemic, and we expect firms facing digital constraints to be less resilient to supply shocks. This paper uses firm-level data to investigate whether digitally-enabled firms have been able to mitigate economic losses arising from the pandemic better than digitally-constrained firms in the Middle East and Central Asia region using a difference-in-differences approach. Controlling for demand conditions, we find that digitally-enabled firms faced a lower decline in sales by about 4 percentage points during the pandemic compared to digitally-constrained firms, suggesting that digitalization acted as a hedge during the pandemic. Against this backdrop, our results suggest that policymakers need to close the digital gap and accelerate firms' digital transformation. This will be essential for economies to bounce back from the pandemic, and build the foundations for future resilience.
ABSTRACT
The COVID-19 pandemic has had a great impact on the global economy and trade, and border regions have been hit severely because of their high dependency on foreign trade. To understand better the economic impact of COVID-19 on border regions, we developed a COVID-19 economic resilience analytical framework and empirically examined 10 Chinese-Russian border cities in Northeast China. We quantitatively analyzed five dimensions of economic resilience, distinguished four types of shock, and examined the determinants of economic resilience. The results show that: (1) the COVID-19 pandemic has wide-ranging impacts in the border areas, with import-export trade and retail sales of consumer goods being the most vulnerable and sensitive to the shock. The whole economy of the border areas is in the downward stage of the resistance period; (2) from a multi-dimensional perspective, foreign trade and consumption are the most vulnerable components of the borderland economic system, while industrial resilience and income resilience have improved against the trend, showing that they have good crisis resistance; (3) borderland economic resilience is a spatially heterogeneous phenomenon, with each border city showing different characteristics; (4) economic openness, fiscal expenditure, and asset investment are the key drivers of economic resilience, and the interaction between the influencing factors presents a nonlinear and bi-factor enhancement of them. The findings shed light on how border economies can respond to COVID-19, and how they are useful in formulating policies to respond to the crisis.
Subject(s)
COVID-19 , Humans , COVID-19/epidemiology , Pandemics , Economic Development , China/epidemiology , CitiesABSTRACT
PURPOSE: We examined the association between social distancing and trouble sleeping during the COVID-19 outbreak in adults 65+, and underlying potential mechanisms. METHODS: We used data from the extensive Survey of Health, Aging, and Retirement in Europe (SHARE). Logistic regression analysis tested the direct and indirect associations between social distancing and trouble sleeping during the pandemic, the mediation effect of depression, and the moderating-mediation effects of perceived economic status and employment status. FINDINGS: Social distancing was associated with a higher probability of sleeping problems, partially mediated by depression and moderated by employment status and perceived economic status. Depression had a greater effect on trouble sleeping among those unemployed and those who perceived their economic status as difficult or partially difficult. CONCLUSION: COVID-19 policy of lockdowns and physical distancing has negative consequences on sleeping and the development of depressive symptoms among older adults. CLINICAL AND POLICY RELEVANCE: Clinicians should be aware of sleep problems in older adults during the pandemic and after, and try to reduce depressive symptoms. Policymakers should determine future policies and regulations that encourage employment among older adults and improve their economic resilience during pandemics.