Guest editorial: Introduction to the special issue: “social action and economic restructuring in the (post-) COVID-19 era”

Abstract

The COVID-19 pandemic unleashed unprecedented health and economic crises worldwide, leading to radical shifts in many facets of daily life (Damette and Huynh, 2023) and economic activities (Zhao et al., 2023). Two years after the outbreak, numerous countries transitioned to the "new normal," coinciding with vigorous vaccination campaigns, even as record-breaking COVID-19 cases persisted (Van Nguyen et al., 2022). This required individuals, businesses and communities to recalibrate to this new reality. Viewing the pandemic as a unique case study of a profound "shock" event influencing every economic sphere simultaneously, the papers in this special issue offer empirical insights to assist researchers, policymakers and economic organizations in gauging the ongoing scenario. Crucially, the exploration of how and to what extent the interplay between economic activities, individuals and communities has been reshaped in the post-COVID-19 era forms a central theme.This special issue spans a wide array of topics, from the pandemic's impact on financial systems (Dalwai, 2023) in both developed and developing economies to the nuanced intersections of religious beliefs and international trade. These concerns, while paramount currently, have enduring relevance. The contributions here not only assess contemporary challenges but also spotlight avenues for future research. Leading our collection is "The COVID-19 pandemic and financial stability in Vietnam: evidence from the interbank market" by Le et al. (2024). They investigate the pandemic's effect on Vietnam's financial health, using extensive daily data on the nation's COVID-19 cases and sophisticated analysis techniques. The findings highlight the pandemic's initial adverse effect, which diminishes over time, emphasizing the need for robust interventions to counter unparalleled health crises. Following this is an insightful study on the USA economy's fiscal dynamics amidst the pandemic titled "Debt to the Penny and US Dollar Index: a lead-lag relationship of the US economy under impacts of the Covid-19 outbreak" by Nguyen et al. (2024). Their work reveals the negative shift in the relationship between public debt and currency strength due to the pandemic, offering vital perspectives for policymakers navigating fiscal challenges. Venturing into faith matters, "Contagious crowds and rational faithfuls: a club theory approach" by Animashaun (2024) investigates the surge in religious fervor during crises. This compelling paper delves into the amplification of religious participation as a means to mitigate the economic and health repercussions of the pandemic, emphasizing the vital role religious networks might play in health initiatives and societal stability. Furthering the discourse on technology and finance, we present papers that explore the adoption of digital banking during these challenging times and the elderly demographic's receptiveness to digital payments. These works enhance our understanding of technological impacts on consumer behaviors and strategic adaptations ...