COVID-19, Government Response, and Market Volatility: Evidence from the Asia-Pacific Developed and Developing Markets
covid-19, government response, Asia-Pacific, wavelet analysis, Market volatility
This study examines the relationship between COVID-19, government response measures, and stock market volatilities for 11 developed and developing economies within the Asia-Pacific region. Our period of study is between 15 February–30 May 2020. Using the continuous wavelet transformation (CWT) analysis and plots and GJR-GARCH analysis, we examined the effects of the COVID-19 public health crisis and the corresponding government measures on the respective domestic equity markets volatilities. The CWT plots showed a varying level of market volatilities at different investment horizons. All the sample countries, except Japan, experienced very low or low volatility over the short-term horizons. In contrast, Vietnam, Malaysia, and Laos experienced medium volatility over the medium-term horizons. Finally, China, Japan, South Korea, Malaysia, and the Philippines experienced high volatility over the long-term horizons. The GJR-GARCH results further ascertain that market volatilities are affected by domestic events, notably, the COVID-19 government intervention measures. In most sample countries, the government measures significantly reduce market volatility in the domestic equity markets. Additionally, international events have also triggered market volatilities. Overall, our study offers several contributions and implications for practitioners and policymakers.
Izani Ibrahim, Kamilah Kamaludin, Sheela Sundarasen
International Tourism Development in the Context of Increasing Globalization Risks: On the Example of Ukraine’s Integration into the Global Tourism Industry
Travel, information technology, tourism industry, international tourism, globalization risks, global tourism trends
Today, international tourism is one of the most affected sectors of the economy due to the global COVID-19 pandemic. The main purpose of this article is to analyze current trends and identify prospects for the international tourism development in the context of increasing globalization risks in the world, using the example of Ukraine’s integration into the global tourism industry, as Ukraine is located in the centre of Europe and belongs to a number of countries with developing economies, and has the potential to expand its tourism industry, which may be of interest to the international scientific community in terms of overcoming the bifurcation point of its economic development. Analyzing the tourism industry, as one of the most progressive sectors of the world economy, we used general scientific and special research methods (abstract-logical, statistical, systemic analysis and synthesis, abstract-theoretical, and correlation-regression analysis). The paper analyzes major indexes of international tourism development in the modern globalized world and details the risks emerging during the global COVID-19 pandemic. It examines the global dynamics of tourism flows, where France, Spain, and the USA are unquestionable leaders. The study considers foreign exchange earnings of international tourism and the industry contribution to the gross domestic product of countries being an essential component of national budgets. Based on the study conducted, there were developed reliable forecast models for the tourism industry development in the countries under research. These models will provide an opportunity to generate reliable forecasts, which will allow timely identification of potential threats and making effective decisions to address them. At the same time, the issues of managing information support of economic entities in the field of international tourism need to be further developed in order to reduce risks.
Yurii Kyrylov, Viktoriia Hranovska, Viktoriia Boiko, Aleksy Kwilinski, Liudmyla Boiko
Finance, Risk in industry. Risk management
Influência do acesso a saneamento básico na incidência e na mortalidade por COVID-19
coronavirus, SARS-CoV-2, Abastecimento de Água, esgotamento sanitário, correlação linear
A falta ou a escassez de saneamento básico pode causar consequências negativas à saúde de uma população. Esta pesquisa objetivou analisar a influência do acesso a abastecimento de água e a esgotamento sanitário na incidência e na mortalidade por COVID-19, pelo uso de regressão linear múltipla. Utilizaram-se dados de população urbana e total relativas aos estados brasileiros e foram testados 4 cenários para se avaliar a influência desses dados nas taxas de incidência e de mortalidade por COVID-19 acumuladas 90 dias após a confirmação do primeiro caso no Brasil. As equações obtidas para os cenários nos quais se testou a influência dos dados de saneamento na incidência foram estatisticamente significativas pelo teste F de Fisher a 5% de significância, tanto para população urbana quanto total, com valores negativos dos coeficientes de influência. Em contrapartida, a influência desses aspectos sanitários apresentou p-valor superior a 0,05 na taxa de mortalidade para as populações urbana e total e, portanto, não foi significativa. Os resultados indicam que o maior acesso a adequados serviços de saneamento básico está relacionado a menores taxas de incidência por COVID-19 no Brasil. Palavras-chave: Abastecimento de água; coronavirus; correlação linear; esgotamento sanitário; SARS-CoV-2.
Instituto Federal de Educação, Ciência e Tecnologia Sul-Rio-Grandense
Special aspects of education, Technology
Risks of emergency use authorizations for medical products during outbreak situations: a COVID-19 case study
Outbreak, covid-19, import, regulatory framework, medical device, Market placement
Abstract Background The world is facing an unprecedented outbreak affecting all aspects of human lives which is caused by the COVID-19 pandemic. Due to the virus novelty, healthcare systems are challenged by a high rate of patients and the shortage of medical products. To address an increased need for essential medical products, national authorities, worldwide, made various legislative concessions. This has led to essential medical products being produced by automotive, textile and other companies from various industries and approved under the emergency use authorizations or legal concessions of national regulatory bodies. This paper presents a narrative commentary of the available documentation on emergency use authorizations and legal concessions for medical products during COVID-19 pandemic. Methodology The basis for narrative commentary includes scientific articles published in Web of Science, Scopus, PubMed and Embase databases, official publications of international organizations: Food and Drug Agency (FDA), World Health Organisation (WHO), World Bank and United Nations (UN), and national regulatory agency reports in native languages (English, German, Bosnian, and Croatian) published from November 1, 2019 to May 1, 2020. This paper focuses on three types of essential medical products: mechanical ventilators, personal protective equipment (PPE) and diagnostic tests. Evidence-informed commentary of available data and potential identified risks of emergency use authorizations and legal concessions is presented. Discussion It is recognized that now more than ever, raising global awareness and knowledge about the importance of respecting the essential requirements is needed to guarantee the appropriate quality, performance and safety of medical products, especially during outbreak situation, such as the COVID-19 pandemic. Emergency use authorizations for production, import and approval of medical products should be strictly specified and clearly targeted from case to case and should not be general or universal for all medical products, because all of them are associated with different risk level. Conclusion Presented considerations and experiences should be taken as a guide for all possible future outbreak situations to prevent improvised reactions of national regulatory bodies.
Almir Badnjević, Lejla Gurbeta Pokvić, Zijad Džemić, Fahir Bečić
Outcomes of Establishing an Urgent Care Centre in the Same Location as an Emergency Department
emergency department, Surge capacity, Length of Stay, Sweden, urgent care centre
The emergency department (ED) is one of the busiest facilities in a hospital, and it is frequently described as a bottleneck that limits space and structures, jeopardising surge capacity during Major Incidents and Disasters (MIDs) and pandemics such as the COVID 19 outbreak. One remedy to facilitate surge capacity is to establish an Urgent Care Centre (UCC), i.e., a secondary ED, co-located and in close collaboration with an ED. This study investigates the outcome of treatment in an ED versus a UCC in terms of length of stay (LOS), time to physician (TTP) and use of medical services. If it was possible to make these parameters equal to or even less than the ED, UCCs could be used as supplementary units to the ED, improving sustainability. The results show reduced waiting times at the UCC, both in terms of TTP and LOS. In conclusion, creating a primary care-like facility in close proximity to the hospitals may not only relieve overcrowding of the hospital’s ED in peacetime, but it may also provide an opportunity for use during MIDs and pandemics to facilitate the victims of the incident and society as a whole.
Annelie Raidla, Katrin Darro, Tobias Carlson, Amir Khorram-Manesh, Johan Berlin, Eric Carlström
Environmental effects of industries and plants, Renewable energy sources, Environmental sciences
Second Episode of COVID-19 in Health Professionals: Report of Two Cases
covid-19, antibody, SARS-CoV-2, Reinfection
Carlos Alexandre Antunes de Brito,1,2 Petrus Moura Andrade Lima,3 Marina Coelho Moraes de Brito,2,4 Daniela Barbosa de Oliveira2 1Department of Internal Medicine, Center of Medical Sciences of Federal University, Recife, Pernambuco, Brazil; 2Department of Immunology, Autoimmune Research Institute, Recife, Pernambuco, Brazil; 3Department of Digestive Surgery, Institute of Integral Medicine Fernando Figueira (IMIP), Recife, Pernambuco, Brazil; 4Center of Medical Sciences, Federal University of Pernambuco, Recife, Pernambuco, BrazilCorrespondence: Carlos Alexandre Antunes de Brito Av. Professor Moraes Rego, s/n, Várzea, Department of Internal MedicineFederal University of Pernambuco, Recife 50670-910, Pernambuco, BrazilTel +55 (81) 2126.3699Email cbritoc@gmail.comAbstract: Although primary infection has been shown to prevent reinfection of SARS-CoV-2 (severe acute respiratory syndrome coronavirus 2) in animal models, gaps in the understanding of the immune response to the virus have not been adequately addressed, and some cases of possible reinfection have been reported; however, the frequency, relevance and proof of these events have yet to be determined. We report cases of two doctors who had two episodes of COVID-19 with positive RT-PCR (reverse transcriptase polymerase chain reaction) test results, raising the probability of reinfection. Case 1 was a 40-year-old male physician who presented fever and respiratory symptoms on April 10, with a positive RT-PCR test for SARS-CoV-2, with complete improvement of symptoms in five days. After 44 days, the patient presented the same symptoms of the previous episode, associated with anosmia and dysgeusia. The results of a new RT-PCR test performed two days later were positive for SARS-CoV-2. Case 2 was a 44-year-old female physician who worked in a reference clinic for COVID-19 (coronavirus disease 2019) and had onset of symptoms indicative of the disease on April 30. The RT-PCR test was positive for SARS-CoV-2, with improvement of symptoms in six days. On May 24, the patient presented fever, cough, and sore throat accompanied by headache, asthenia, myalgia, and diarrhea, and in this new episode, anosmia and dysgeusia were also present. A new RT-PCR test from nasopharyngeal swabs was performed with a positive result. Our two patients described here and other patients with possible reinfection who are now being observed in clinical practice reinforce the need to expand the investigation. Then, if the risk of reinfection is confirmed, these findings will be relevant from a clinical-epidemiological perspective to define isolation strategies and develop vaccines.Keywords: COVID-19, SARS-CoV-2, reinfection, antibody
de Brito CAA, Lima PMA, de Brito MCM, de Oliveira DB
Financial Literacy and Exercise Behavior: Evidence from Japan
Japan, exercise, rationality, financial literacy
Lack of exercise, which increases the risk of many serious physical and mental illness, has been a common health issue in Japan. Recent studies confirm that financial literacy discourages irrational behavior like gambling and smoking. We therefore investigate how financial literacy, as a rational decision-making instrument, relates to peoples’ exercise behavior in Japan. We hypothesize that financial literacy encourages people to exercise regularly. Using Osaka University’s Preference Parameters Study (PPS) for 2010, we categorized respondents into two groups: those who exercise regularly or at least once a week and those who do not. Our probit estimation results show that financial literacy is positively related with exercise behavior, meaning that financially literate people are more likely to exercise regularly. As the COVID-19 health pandemic seems to exacerbate peoples’ physical inactivity, the results of our study show an alternative approach to encourage exercise. We therefore recommend that governments implement a financial literacy improvement policy to alleviate the lack of exercise.
Yoshihiko Kadoya, Mostafa Saidur Rahim Khan, Shunsuke Ono, Pattaphol Yuktadatta, Takafumi Taniguchi, Tomoe Iitsuka, Masafumi Noguchi, Sawa Tanaka, Haruka Ito, Kousei Nakamura, Nanako Yasuhara, Chihiro Miyawaki, Katsumi Mikura
local food systems, Civic engagement, social welfare, civic community, food democracy, Civic Agriculture
“Civic agriculture,” a term first coined by rural sociologist Thomas Lyson, refers to forms of agriculture that occur on a local level, from production to consumption, and are linked to a community’s social and economic development. Sixteen years since its original articulation, the term “civic agriculture” has taken on greater significance in research, political activism, and community organizing. Grown from the roots of civic community theory, civic agriculture functions as a new branch of civic community theory that is ripe for theorization. In revisiting the foundations of the term, this review paper seeks to consolidate current and future research in the field of civic agriculture with a focus on its link to social welfare. This begins by reviewing the foundations of civic community theory and discussing how they influence research related to civic agriculture. As we report in this paper, there remain considerable gaps in understanding of how civic agriculture can be fomented by—or is related to—indicators such as demographics, concentration of power, community cohesion, and civic engagement. Consequently, the assumed links between local food systems and social welfare must continue to be studied to determine correlation and causality. This understanding is particularly important during this time of global pandemic, when the flaws and inequities of global supply chains are exposed and where, in many cases, civic agriculture met the increasing interest in local food. The COVID-19 pandemic has amply demonstrated the fragility and instability of global food supply chains, making the need for local food systems more significant and more relevant to communities across the world.
Agriculture, Environmental sciences, Geography. Anthropology. Recreation, Technology, Social Sciences, Nutrition. Foods and food supply, Recreation. Leisure, Urban groups. The city. Urban sociology, Regional planning, Communities. Classes. Races, Human ecology. Anthropogeography, Home economics
Financial Policies of European Union Countries Regarding the Tourism Industry in COVID-19 Process
covid-19, finance, fiscal policies, Monetary Policies
Purpose – The aim of this study is to examine the financial policies implemented by EU countries inthe tourism industry during the COVID-19 process.Design/methodology/approach – The tourism industry has been studied for two reasons. First, thepandemic has significantly affected the tourism industry due to its dynamic structure, which is veryquickly affected by crises. The rapid spread of the pandemic through international travel operationshas deepened this situation. Second, there are a large number of new entrepreneurs and SME-levelenterprises in the tourism industry mostly in need of financial support. In the study, qualitativeresearch methods were used and document analysis was used as a data collection tool. Data on thefiscal and monetary policies implemented by EU countries for the tourism industry during theCOVID-19 process were obtained from the United Nations World Tourism Organization (UNWTO).Content analysis was used in the study. The data obtained were analyzed with the help of MAXQDAQualitative Analysis Program.Findings – According to the results of the study, the financial and monetary policies developed byEuropean Union countries to reduce the impact of COVID-19 on the tourism industry have strongrelations with each other. Countries provide support for tourism enterprises to continue theiractivities. The support given is mainly focused on SMEs. In addition, support is provided to makeemployment sustainable, liquidity assistance is provided to eliminate cash shortages, especially incredit and employment supportDiscussion – In fiscal policy, it functions as important in banks as it does in public authorities.Credit, liquidity and tax are the financial instruments most involved in financial policies.
Resistir la Covid-19. Intersecciones en la Educación de Ciudad Juárez, México
virus, educación a distancia, Educación Sanitaria, enseñanza pública, política de la salud
En el 2020, México se enfrentó a la nueva enfermedad por coronavirus declarada como emergencia de salud pública de importancia internacional. En respuesta, durante el mes de marzo la Secretaría de Educación Pública y la Secretaría de Salud implementaron un conjunto de medidas para prevenir y contener la propagación del virus. Los objetivos son: identificar las acciones implementadas por el gobierno y analizar sus implicaciones pedagógicas, sociales y económicas. Se desarrolló un ejercicio cualitativo de tipo documental que permitió la localización, clasificación, selección, análisis y comparación de diversos documentos. Como resultado se identificaron tres acciones prioritarias y 20 medidas de atención primaria para su implementación en todo el territorio nacional. Se encontró que el cierre de las escuelas reveló un conjunto de desafíos para las autoridades educativas, el profesorado y las familias, en tanto la ejecución de estas medidas se configura en un entramado de circunstancias educativas, sociales y económicas que, en suma, profundizan la desigualdad educativa. Se concluye que escuelas y profesorado son agentes clave en la contención sanitaria, sin embargo, las condiciones de las escuelas y las características socioeconómicas de las comunidades definen la experiencia de prevención y confinamiento.
Pavel Roel Gutiérrez Sandoval, Evangelina Cervantes Holguín