The Socioeconomic Impact of COVID-19 on Eastern European Countries


Book Description

The year 2020 went down in economic history due to the dramatic and drastic changes in economic and social conditions that resulted from the outbreak of the global pandemic of COVID-19. This book offers a multi-level narrative about the pandemic, written from national and international perspectives, enabling the authors to construct several macro- and mega-scenarios. The book consists of six chapters. Four of them discuss the process of the COVID-19 pandemic caused by the SARS-CoV-2 virus in Europe in 2020, i.e. the directions and dynamics of the spread and its socioeconomic consequences, and provide a comparative analysis of fiscal and monetary packages employed by Europe, with an emphasis on Eastern European countries. The remaining two chapters contain forecasts and scenarios. The fifth chapter, dedicated to forecasts, provides readers with a comprehensive description of possible consequences of any epidemic leading to severe social losses such as high percentages of infected and dead, limited interpersonal contacts as a result of lockdown, a lowered level of general individual and social well-being, as well as economic losses, for example a decline in production as a result of the collapse of aggregate demand and a reduction in the supply capacity of the economy, consequently slowing down the pace of capital accumulation. The sixth, final chapter describes possible scenarios of the spread of the pandemic in Poland and Ukraine, depending on measures taken by the governments of those countries. The Socioeconomic Impact of COVID-19 on Eastern European Countries is designed as a practical reference for scholars, researchers and policymakers.




Health at a Glance: Europe 2020 State of Health in the EU Cycle


Book Description

The 2020 edition of Health at a Glance: Europe focuses on the impact of the COVID‐19 crisis. Chapter 1 provides an initial assessment of the resilience of European health systems to the COVID-19 pandemic and their ability to contain and respond to the worst pandemic in the past century.




Entrepreneurship in the Informal Sector


Book Description

How many businesses start-ups conduct some or all of their trade ‘off-the-books’? And how many enterprises continue to do some of their work off-the-books once they are more established? What should be done about them? Should governments adopt ever more punitive measures to eradicate them? Or should we recognise this hidden enterprise culture and attempt to harness it? If so, how can this be done? What measures can be taken to ensure that businesses start-up in a proper manner? And what can be done to help those enterprises and entrepreneurs currently working off-the-books to legitimise their businesses? The aim of this book is to advance a new way of answering these questions. Drawing inspiration from institutional theory, informal sector entrepreneurship is explained as resulting from the asymmetry between the codified laws and regulations of a society’s formal institutions and the norms, values and beliefs that comprise a society’s informal institutions. The argument is that if the norms, values and beliefs of entrepreneurs (i.e., their individual morality) were wholly aligned with the codified laws and regulations (i.e., state morality), there would be no informal sector entrepreneurship. However, because the individual morality of entrepreneurs differs from state morality, such as due to their lack of trust in government and the rule of law, the result is the prevalence of informal sector entrepreneurship. The greater the degree of institutional asymmetry, the higher is the propensity to engage in informal sector entrepreneurship. This book provides evidence to show that this is the case both at the individual- and country-level and then discusses how this can be overcome. .







Transition Economies in Central and Eastern Europe


Book Description

The theory of interventionism of the Austrian School of Economics explains the successes and failures of the transformation processes in Central and Eastern European countries and offers a deep insight into contemporary economic phenomena. Three decades have passed since the collapse of communism that precipitated the economic transformation of these countries. This book describes the Austrian view of socialism and in such a context explains the transformational success of the countries of Central and Eastern Europe. Moreover, it shows that the theory of interventionism has not lost its relevance, and the theory itself—along with its modifications—may be used to explain current economic events. The book is divided into four sections. The first part presents the Austrian perspective on socialism; the second discusses a new approach to the Austrian theory of interventionism, suggesting that the theory should be revised and that its scope should be extended beyond the transformation of the 1990s into the realm of contemporary economic reality; the third part is oriented towards pragmatic considerations, whereby the authors employ the Austrian perspective to analyze specific factors that, according to their view, had an impact on the transformational success of post-communist countries; while the final part is ideological and philosophical in character. Here the authors search for certain principia that govern broadly understood social and economic transformations. The book is addressed to those interested in the Austrian School of Economics and the political transformation of the 1990s, as well as those who wish to understand contemporary economic trends.




Global Trends 2040


Book Description

"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.




Primary and Secondary Education During Covid-19


Book Description

This open access edited volume is a comparative effort to discern the short-term educational impact of the covid-19 pandemic on students, teachers and systems in Brazil, Chile, Finland, Japan, Mexico, Norway, Portugal, Russia, Singapore, Spain, South Africa, the United Kingdom and the United States. One of the first academic comparative studies of the educational impact of the pandemic, the book explains how the interruption of in person instruction and the variable efficacy of alternative forms of education caused learning loss and disengagement with learning, especially for disadvantaged students. Other direct and indirect impacts of the pandemic diminished the ability of families to support children and youth in their education. For students, as well as for teachers and school staff, these included the economic shocks experienced by families, in some cases leading to food insecurity and in many more causing stress and anxiety and impacting mental health. Opportunity to learn was also diminished by the shocks and trauma experienced by those with a close relative infected by the virus, and by the constrains on learning resulting from students having to learn at home, where the demands of schoolwork had to be negotiated with other family necessities, often sharing limited space. Furthermore, the prolonged stress caused by the uncertainty over the resolution of the pandemic and resulting from the knowledge that anyone could be infected and potentially lose their lives, created a traumatic context for many that undermined the necessary focus and dedication to schoolwork. These individual effects were reinforced by community effects, particularly for students and teachers living in communities where the multifaceted negative impacts resulting from the pandemic were pervasive. This is an open access book.




Diversity of Capitalism in Central and Eastern Europe


Book Description

This book explores the hypothesis of the emergence of a ‘dependent capitalism’ in Central and Eastern Europe. In a first theoretical part, this book presents the main approaches that structure the field of comparative capitalism and then examines this model shaped by the inflow of foreign capital. In an original way, it proposes to integrate the form of the monetary regime into the dependent capitalism analysis and to extend it to Balkan countries. The monetary regime is seen as complementary to the other elements of the institutional configuration of dependent capitalism. In the second part, the authors adopt a historical and empirical perspective. First, they demonstrate how dependent capitalism has emerged in Central and Eastern Europe and the Baltic States over the last 30 years as part of the process of socio-economic transformation that began in 1990. The crisis of 2008 was an indicator of this dependence on Western capital. Secondly, they extend the analysis to the Balkan countries and show that dependence is even stronger for them, particularly in the monetary area, as evidenced by the implementation of currency boards or euroization phenomena. This book is of interest to academics and students, as well as to business and economic policy makers.




The Solow Model of Economic Growth


Book Description

In 1956, Solow proposed a neoclassical growth model in opposition or as an alternative to Keynesian growth models. The Solow model of economic growth provided foundations for models embedded in the new theory of economic growth, known as the theory of endogenous growth, such as the renowned growth models developed by Paul M. Romer and Robert E. Lucas in the 1980s and 90s. The augmentations of the Solow model described in this book, excepting the Phelps golden rules of capital accumulation and the Mankiw-Romer-Weil and Nonneman-Vanhoudt models, were developed by the authors over the last two decades. The book identifies six spheres of interest in modern macroeconomic theory: the impact of fiscal and monetary policy on growth; the effect of different returns to scale on production; the influence of mobility of factors of production among different countries on their development; the effect of population dynamics on growth; the periodicity of investment rates and their influence on growth; and the effect of exogenous shocks in the form of an epidemic. For each of these issues, the authors construct and analyze an appropriate growth model that focuses on the description of the specific macroeconomic problem. This book not only continues the neoclassical tradition of thought in economics focused on quantitative economic change but also, and to a significant extent, discusses alternative approaches to certain questions of economic growth, utilizing conclusions that can be drawn from the Solow model. It is a useful tool in analyzing contemporary issues related to growth.




Making Americans Healthier


Book Description

The United States spends billions of dollars annually on social and economic policies aimed at improving the lives of its citizens, but the health consequences associated with these policies are rarely considered. In Making Americans Healthier, a group of multidisciplinary experts shows how social and economic policies seemingly unrelated to medical well-being have dramatic consequences for the health of the American people. Most previous research concerning problems with health and healthcare in the United States has focused narrowly on issues of medical care and insurance coverage, but Making Americans Healthier demonstrates the important health consequences that policymakers overlook in traditional cost-benefit evaluations of social policy. The contributors examine six critical policy areas: civil rights, education, income support, employment, welfare, and neighborhood and housing. Among the important findings in this book, David Cutler and Adriana Lleras-Muney document the robust relationship between educational attainment and health, and estimate that the health benefits of education may exceed even the well-documented financial returns of education. Pamela Herd, James House, and Robert Schoeni discover notable health benefits associated with the Supplemental Security Income Program, which provides financial support for elderly and disabled Americans. George Kaplan, Nalini Ranjit, and Sarah Burgard document a large and unanticipated improvement in the health of African-American women following the enactment of civil rights legislation in the 1960s. Making Americans Healthier presents ground-breaking evidence that the health impact of many social policies is substantial. The important findings in this book pave the way for promising new avenues for intervention and convincingly demonstrate that ultimately social and economic policy is health policy. A Volume in the National Poverty Center Series on Poverty and Public Policy