Like the previous pandemics, Coronavirus pandemic is first and foremost a public health threat, but it is also, and increasingly, an economic threat. On the other hand, the economic impact of a pandemic may not be long-lasting if the underlying cause is contained quickly. Currently the world is seriously affected by COVID-19 outbreak. Considering the evolving nature of the situation, it is too early to estimate the full impact of COVID-19 on the world economy, but many articles have been published and made available to the public on the actual and potential economic consequences of COVID-19. Most of them consider the partial economic effects of COVID-19 on different economic perspectives. Therefore, the general objective of this contemporary review is to prepare the bases for future solution by collecting and analyzing the results of previous articles and contextualization's of their needs. The result of the review depicts the significant actual and projected impacts of COVID-19 on major macro-economic variables like: economic growth, unemployment and poverty level. Besides, the review also reflects the sectoral impacts of COVID-19 on manufacturing, service, trade, tourism & aviation and education sectors of the world economy.
In a modern economy, good governance is considered a prominent factor for economic growth (Liu, Tang, Zhou, & Liang, 2018). However, Sub-Saharan Africa has a poor track record of good governance and economic growth (Fayissa & Nsiah, 2013). Therefore, this study is aimed to investigate the impact of governance on economic growth in Sub-Saharan Africa. Panel data that covers a period from 2005 to 2019 for 34 countries and the principal component analysis (PCA) method are employed to achieve the stated objective of the study. The selected fixed- and random-effect estimations showed that among the six-governance quality indicators control of corruption, government effectiveness, regulatory quality, and rule of law positively affect real GDP per capita (economic growth) while political stability and absence of violence and voice and accountability are statistically insignificant to affect real GDP per capita. The estimations result of composite governance indicators confirmed that except for the political dimension of governance both the economic and institutional dimensions of governance, as well as overall composite governance indexes, positively affect the economic growth of the region. Besides, foreign direct investment, the government fixed capital formation and gross domestic product growth affect real GDP per capita positively in all models while government consumption expenditure and age dependency ratio negatively affect real GDP per capita. Therefore, in addition to the existing support in the improvement of the political activities in Sub-Saharan Africa, concerned bodies should also focus to enhance the economic and institutional dimensions of governance in the region
In the economic growth of a country, the banking sector plays a significant role (Alam, Rabbani, Tausif, & Abey, 2021). The overall objective of the study is to investigate the financial performance of commercial banks in emerging markets. The study tried to see the impact of governance, exchange rate volatility, trade openness, and internet access on the financial performance of commercial banks in Ethiopia during the years from 2014 to 2019. The study employed a random-effects model using balanced panel data. The result indicated that composite governance index, trade openness, and internet access have a positive and statistically significant effect on the financial performance of commercial banks as measured by their return on assets. However, the exchange rate volatility has a negative and statistically significant effect on the financial performance of commercial banks. On the other hand, the result of bank-specific variables considered in the study such as profit margin, asset utilization, net interest margin, overhead efficiency, and numbers of branches have a positive and statistically significant effect on the financial performance of commercial banks. Contrarily, the equity multiplier ratio has a negative and significant effect on the financial performance of commercial banks
Since the beginning of the year 2020, the world has been suffering from an unprecedented situation due to the Corona Virus Disease (COVID-19). The negative impact of COVID-19 is one of the worrisome issues across the globe. Among others, employment is one area affected during the COVID-19, which requires considerable scientific studies to identify factors affecting employment status throughout the disease crisis. Therefore, this study has mainly aimed to investigate the factors affecting the employment status during the COVID-19 pandemic in Ethiopia, taking a total of 2,396 respondents who had jobs before the COVID-19 outbreak. To achieve the stated objectives, the study has employed a binary logit regression model considering the employment status of respondents who lost their job (unemployed) and who secured their job (employed) during the pandemic. The model result indicates that females were more likely to be unemployed than males, persons living in a rural area were more likely to be unemployed than persons living in an urban area, and persons engaged in industry, service, and trade were more likely to be unemployed than people engaged in agriculture during the pandemic. Furthermore, during the pandemic, people living in the capital city of Ethiopia (Addis Ababa) were more likely to be unemployed compared to people living in the other regions of the country. Finally, based on these findings, critical recommendations were forwarded to the government and policymakers for their intervention.
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