The pandemic and economic policy uncertainty

Al‐Thaqeb, Saud Asaad; Algharabali, Barrak Ghanim; Alabdulghafour, Khaled Tareq

doi:10.1002/ijfe.2298

Cited by 113 publications

(66 citation statements)

References 109 publications

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“…They also note that the effects of political and regulatory uncertainty extend even to the commodity and crypto-currency markets. [ 61 ]. Song and Zhou also acknowledge the fact that uncertainty plays a key role in the current economic crisis.…”

Section: Discussionmentioning

confidence: 99%

The Impact of the SARS-CoV-19 Pandemic on the Global Gross Domestic Product

Korneta

Rostek

2021

IJERPH

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The rapid, unexpected, and large-scale expansion of the SARS-CoV-19 pandemic has led to a global health and economy crisis. However, although the crisis itself is a worldwide phenomenon, there have been considerable differences between respective countries in terms of SARS-CoV-19 morbidities and fatalities as well as the GDP impact. The object of this paper was to study the influence of the SARS-CoV-19 pandemic on global gross domestic product. We analyzed data relating to 176 countries in the 11-month period from February 2020 to December 2020. We employed SARS-CoV-19 morbidity and fatality rates reported by different countries as proxies for the development of the pandemic. The analysis employed in our study was based on moving median and quartiles, Kendall tau-b coefficients, and multi-segment piecewise-linear approximation with Theil–Sen trend lines. In the study, we empirically confirmed and measured the negative impact of the SARS-CoV-19 pandemic on the respective national economies. The relationship between the pandemic and the economy is not uniform and depends on the extent of the pandemic’s development. The more intense the pandemic, the more adaptive the economies of specific countries become.

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Section: Discussionmentioning

confidence: 99%

The Impact of the SARS-CoV-19 Pandemic on the Global Gross Domestic Product

Korneta

Rostek

2021

IJERPH

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“…Subsequent studies further explored these issues, but reported different views and opinions. Many economists have shown that increased uncertainty causes rms to reduce investment, bond issuance, and spending (Al-Thaqeb et al 2020) so that innovation stalls in the form of R&D spending and new product development (Shankar 2020). Moreover, studies have also speculated that policy uncertainty will detrimentally affect economic innovation power through innovation quantity, quality, and risk by verifying the theoretical models of 43 countries (Bhattacharya et al 2017).…”

Section: Economic Policy Uncertainty and Green Technology Innovatiomentioning

confidence: 98%

Environmental regulation, economic policy uncertainty, and green technology innovation

Zhang

2021

Clean Techn Environ Policy

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Green technology innovation is imperative to sustainable and environmentally sound economic development and is currently facing increasingly serious environmental threats. However, existing research has overlooked the uncertainties in economic policies. Based on the logical relationship between environmental regulation, economic policy uncertainty, and green technology innovation, this study empirically analyzed the quantitative relationship among these three variables using the xed-effect panel method and provincial panel data from 2000 to 2017 for 30 administrative regions of China. The results show that environmental regulation is positively correlated with green innovation, whereas economic policy uncertainty has a negative in uence on green innovation, thereby regulating the relationship between the remaining two factors. Moreover, considerable regional heterogeneity exists in these causal in uences, i.e., environmental regulation promotes green innovation in the eastern and middle regions but not signi cantly in the west. The uncertainty actively moderates the impact of environmental regulation on green innovation in all regions with an adjustment coe cient of approximately 0.8; however, it inhibits green innovation in different degrees, especially in the eastern and middle regions. Based on empirical results, we conclude that strict and appropriate environmental regulations are necessary and effective in China to encourage green technology innovation, especially in regions with uncertain economic policies.

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“…Specifically, the business lockdowns and extensive medical and health expenditures have caused enormous economic losses [48] , [49] , resulting in the risk of government debt and so the fiscal deficit. According to International Monetary Fund (IMF), the global fiscal deficit as a share of GDP might rise from 3.7% in 2019 to 9.9% in 2020, while the percentage of public debt in developed economies would rise from 105% to 122% of GDP [50] .…”

Section: Energy Transition During Covid-19mentioning

confidence: 99%