The global financial crisis and protectionism: Substitution from tariffs to non‐tariff measures

Heo, Inae; Choi, Bo Young

doi:10.1111/boer.12386

Cited by 3 publications

(3 citation statements)

References 26 publications

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“…Unlike Evenett (2019), Frias and Guerrero-Sanchez (2023), Heo and Choi (2023), Mavrot and Malandrino (2023), Nkemgha et al (2022), and Shan et al (2023), who deem the protectionism measures the main ones in the context of an economic crisis, this paper proved that market freedom reduced business risks to a greater extent than protectionism. Marketing in the conditions of market freedom is more effective in the conditions of the COVID-19 crisis, unlike other economic crises, including the 2008 world financial and economic crisis, when protectionism did not have alternatives and was sorely needed.…”

Section: Discussionmentioning

confidence: 59%

“…Second, the 2020 context was connected with an economic crisis-a decline in GDP-which was called the COVID-19 crisis. Evenett (2019), Frias and Guerrero-Sanchez (2023), Heo and Choi (2023), Mavrot and Malandrino (2023), Nkemgha et al (2022), and Shan et al (2023) assign the main role in the reduction in business risks in the conditions of economic crises to the government. This role is connected with the implementation of protectionism measures aimed at increasing the favorability of the market environment for domestic businesses with the help of strengthening customs barriers, including an increase in customs fees.…”

Section: Tactical Toolkit For Business Risk Management In the Conditi...mentioning

confidence: 99%

“…Its danger lies in the incomplete realization of the export potential of business and the economy. Scholars agree that these business risks have increased during the COVID-19 crisis (Heo and Choi 2023;Huang et al 2023). This manifests itself in an increase in the danger of risks (the normal volatility has been replaced by a sharp decline in GDP and exports) and in the probability of risks (assessed through the prism of GDP and goods export variation among the countries).…”

Section: Introductionmentioning

confidence: 99%

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Business Risks in COVID-19 Crisis Dataset Modeling: Regulatory vs. Marketing Tools of Risk Management

Ergasheva,

Tillyakhodjaev,

Karrieva

et al. 2023

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The research aims to identify the most promising regulatory and marketing tools for business risk management in the COVID-19 crisis and develop recommendations for improving the practice of these tools from a post-pandemic perspective. This paper is devoted to the scientific search for answers to two research questions: RQ1: What tactical tools of business risk management are most effective in the COVID-19 crisis? RQ2: How to carry out strategic risk management of the business from a post-COVID perspective? The authors perform dataset modeling of business risks in the COVID-19 crisis and data analysis of the post-pandemic perspective of managing these risks, relying on data for 2016–2023, reflecting international experience in a representative sample. The key conclusion of this research is that the most complete and effective business risk management in times of COVID-19 crisis requires the integrated application of tools of state and corporate governance, that is, two-tier management: At the state and business levels. On this basis, the authors recommended applying the systemic approach to business risk management in times of the COVID-19 crisis, which includes a set of the most effective regulatory (financial support from the state budget and protectionism) and marketing (use of big data and analytics) tools of business risk management. The practical significance of the research results is that the recommended systemic approach to using regulatory and marketing tools can improve the effectiveness of tactical and strategic risk management in the COVID-19 crisis, thereby increasing business resilience to this crisis. The novelty is due to the fact that we selected the most effective tools of business risk management under the conditions of the COVID-19 crisis and proved the necessity to combine the tools of state and corporate management, which are substantiated, for the first time, not as mutually interchangeable, but complementary practices of risk management in the unique context of the COVID-19 crisis.

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Section: Discussionmentioning

confidence: 59%

Section: Tactical Toolkit For Business Risk Management In the Conditi...mentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Business Risks in COVID-19 Crisis Dataset Modeling: Regulatory vs. Marketing Tools of Risk Management

Ergasheva,

Tillyakhodjaev,

Karrieva

et al. 2023

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show abstract

Change Management Based on Smart Technologies for Sustainable Business Development

Litvinova,

Abdusalomova,

Dugina

et al. 2023

Glob J Flex Syst Manag

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The Global Financial Crisis and Economic Growth: An Analysis of the East Asian Economies

Yin

Hong

Yao

2023

Pancasila Int. J. Appl. Soc. Sci.

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Along with more its integrated economy in middle globalization era, crisis finances that occur in a country can with easy spread to countries other and become a global financial disaster in period time which short. On incident sort of this, very strong economic fundamentals important for maintain something country from effect crisis which "infectious". As proof, because it is fundamental economy Which fragile And lack of credibility government, East Asian economies can attacked with easy by crisis on year 1997 so market confidence is deteriorating. however , Asia This East has Study Lots from incident on year 1997 is so it can be prove its resilience in face crisis finance global that hit in 2008 with increase fundamentals the economy as well as credibility para policy makers. This paper started with theory about growth economy And crisis finance. Furthermore, empirically test so far where crisis finance on year 1997 And 2008 affected Asian economies East with use data panel econometrics. The evidence shows that, though second crisis has give impact bad on economy East Asia, crisis wave 2008 relatively No more critical than crisis year 1997. Finally, study this also provides an explanation more carry on about how economy Asia East has succeeded in minimizing the impact of the crisis global on year 2008.

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The global financial crisis and protectionism: Substitution from tariffs to non‐tariff measures

Cited by 3 publications

References 26 publications

Business Risks in COVID-19 Crisis Dataset Modeling: Regulatory vs. Marketing Tools of Risk Management

Business Risks in COVID-19 Crisis Dataset Modeling: Regulatory vs. Marketing Tools of Risk Management

Change Management Based on Smart Technologies for Sustainable Business Development

The Global Financial Crisis and Economic Growth: An Analysis of the East Asian Economies

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