Economic resiliency and recovery, lessons from the financial crisis for the COVID-19 pandemic: A regional perspective from Central and Eastern Europe

Brada, Josef C.; Gajewski, Paweł; Kutan, Ali M.

doi:10.1016/j.irfa.2021.101658

Cited by 63 publications

(42 citation statements)

References 56 publications

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“…Some scholars find evidence of the procyclical nature of fiscal policy amid pandemic uncertainty that is typical of highly indebted advanced countries (Chakrabarty, Roy, 2021). Other researchers focus on softening budget constraints in the pandemic as a result of increased public spending on health, social services and the introduction of fiscal incentives to support the population and business (Ershov, 2020).…”

Section: Literature Reviewmentioning

confidence: 99%

“…Assessing the effectiveness of specific fiscal measures to combat the pandemic crisis, Makin and Layton (2021) show that the introduction of tax breaks and incentives during the pandemic is more expedient than increasing budget spending. Some studies apply a more detailed approach, linking revenue from different taxes during the 2020 pandemic to changes in sales across states (Chernick et al, 2020;Clemens, Veuger, 2020).…”

Section: Literature Reviewmentioning

confidence: 99%

“…In addition, scientists explore the resilience of various regional economies to economic crises, including pandemics (Brada et al, 2021;Mikheeva, 2021), and the factors affecting resilience (Kolomak, 2020;Pietro et al, 2020). Few studies directly focus on the response of the Russian regional fiscal systems, their revenues and expenditures, and the level of debt to the 2020 pandemic (Klimanov et al, 2021).…”

Section: Literature Reviewmentioning

confidence: 99%

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Impact of the 2020 Pandemic on Revenue from Various Taxes in the Russian Regions

Малкина¹

2021

J. Sib. Fed. Univ., Humanit. soc. sci.

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The article investigates the impact of the 2020 pandemic on tax revenues of Russian regions at the stages of their collection and allocation to regional budgets. To exclude the influence of the seasonal component and uneven receipts of various taxes to the budget, the moving annual tax revenues were calculated with a shift of one month. Based on these data for 2013-March 2020, linear time regressions were built and decomposed into 8 taxes and tax groups. These regressions were used to predict non-pandemic tax revenues for different regions in April-December 2020. The impact of the pandemic on the regional tax losses (gains) and their decomposition by sources was calculated through the deviation of the actual revenues from their predicted non-pandemic values on an accrual basis until the end of 2020. We found that the pandemic had led to losses of 13.9 % of total tax revenues in the country and 6.2 % of regional budgets’ own tax revenues. The mining regions are the most affected by the pandemic. On the contrary, in some Far Eastern regions, there is an abnormal increase in tax collections. The largest contribution to the decrease in tax revenues at the consolidated and federal levels was made by the MET receipts; they fell sharply due to lower prices and volumes of oil and gas. However, the negative effect of this decrease at the federal level was dampened by stabilizing VAT receipts. Excise taxes played a positive role in mitigating pandemic risks. The tax distribution system has shown its equalizing function when allocating tax revenues to sub-federal budgets. The largest negative contribution to the change in regional tax revenues during the 2020 pandemic was made by the corporate income tax, while the negative impact of property taxes and special tax regimes turned out to be less significant. Personal income tax has proven to be the main damper of tax revenues at the regional level. The results obtained are applicable to the management of the state fiscal revenues during pandemic crises

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

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Impact of the 2020 Pandemic on Revenue from Various Taxes in the Russian Regions

Малкина¹

2021

J. Sib. Fed. Univ., Humanit. soc. sci.

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“…A worldwide economic and financial crisis has followed the COVID-19 pandemic, overwhelming the 2008-2010 crisis (Brada et al, 2021;Chen & Yeh, 2021;Gromski et al, 2021). Research has indicated that families prefer to reduce their spending on products and services that are not needed until the economy recovers again Kumar & Shah, 2021;Soon et al, 2021).…”

Section: Strategies For Financial Recoverymentioning

confidence: 99%

Challenges and Uncertainty: The Impact of Covid 19 on Segi Seri Group Sdn. Bhd.

Sharif¹,

Akbarruddin²,

Yusoff³

et al. 2021

IJARBSS

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Running a business operation has always been associated with certain risk that needs to be constantly monitored to ensure that the risk is under control. In the middle of the present COVID-19 pandemic that has affected various aspects of socioeconomic, the risk and challenges faced by the business organisation just went up a notch higher. The current socioeconomic was unprecedented and due to the drastic measure taken by the government to slow down the spread of the disease, many businesses find themselves struggling to stay afloat as they were unable to run the business as they normally did. Due to the nature that necessitates them to interact directly with the customers, the hospitality industry has received one of the hardest impacts as the pandemic continues. Foodservice sector such as restaurant, small roadside stall, and event management catering has felt the full-frontal brunt of the COVID-19 wave with the latter facing the harshest impact. This study investigated the risk and challenges that a local event management catering company called Seri Segi endured during the COVID-19 pandemic. The study was conducted through 4 months of observation and interviews with some of the employees. The data were analysed using narrative analysis that extracted the key or crucial point of the data. The result showed there were 6 areas of concern that became the challenges for Seri Segi group: branding, cost, customer demand, competition, promotion, and manpower.

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“…research to analyze and flesh out the importance of resilience at the global (Noy et al 2020), regional (Di Pietro et al 2020, Brada et al 2021, national and local levels (Gong et al 2020).…”

mentioning

confidence: 99%

Conceptualizing Urban Economic Resilience at the Time of Covid-19 and Beyond

2021

JABE

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Economic resilience has been identified as the key factor that defines the ability of urban communities to cope with the consequences of the ongoing COVID-19 crisis as well as any other global health-related economic shocks. This paper offers a dynamic action-oriented concept of urban economic resilience defined as the capacity and related capabilities of urban communities to plan for, anticipate negative shocks, including long-term stresses, to their economies, reallocate and mobilize resources to withstand those shocks, recover from the shocks, and rebuild at least to pre-crisis levels as soon as possible, while placing their economies on the path to sustainable economic growth and simultaneously strengthening their capacity to deal with any future shocks. the paper suggests key operational indicators for the identified variables and discusses how the conceptual framework presented in the paper can be used to measure urban economic resilience and assess city performances.

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Economic resiliency and recovery, lessons from the financial crisis for the COVID-19 pandemic: A regional perspective from Central and Eastern Europe

Cited by 63 publications

References 56 publications

Impact of the 2020 Pandemic on Revenue from Various Taxes in the Russian Regions

Impact of the 2020 Pandemic on Revenue from Various Taxes in the Russian Regions

Challenges and Uncertainty: The Impact of Covid 19 on Segi Seri Group Sdn. Bhd.

Conceptualizing Urban Economic Resilience at the Time of Covid-19 and Beyond

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