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Begin New Search Topic Global Recession Publication Year within 5 Years

1. Zombies at Large? Corporate Debt Overhang and the Macroeconomy

Author:
Òscar Jordà, Martin Kornejew, Moritz Schularick, and Alan M. Taylor
Publication Date:
10-2021
Content Type:
Working Paper
Institution:
Institute for New Economic Thinking (INET)
Abstract:
What are the macroeconomic consequences of business credit booms? Are they as dangerous as household credit booms? If not, why not? We answer these questions by collecting data on non-financial business liabilities (primarily bank loans and corporate bonds) for 17 advanced economies over the past 150 years. Unlike household credit, business credit booms are rarely followed by macroeconomic hangovers. Data on debt renegotiation costs—instrumented by a country’s legal tradition—show that frictions to debt resolution make recessions deeper and longer—an important factor in explaining the differences with household credit booms.
Topic:
Debt, Economics, International Political Economy, Global Recession, Macroeconomics, Credit, and Corporations
Political Geography:
Global Focus

2. COVID-19 and Peace: Preparedness for the post-pandemic recovery

Publication Date:
06-2020
Content Type:
Policy Brief
Institution:
Institute for Economics & Peace
Abstract:
The journey out of this global recession will be long and arduous. However two factors may assist countries along this path. The first is high levels of Positive Peace, guaranteeing effective institutions, social cohesion and transparent, representative governments. The second is favourable economic conditions before the onset of the pandemic.
Topic:
Conflict Prevention, Economics, Health, Global Recession, Violence, Economic Policy, Institutions, Peace, Pandemic, and COVID-19
Political Geography:
Global Focus

3. Rebooting Europe: a framework for a post COVID-19 economic recovery

Author:
Julia Anderson, Simone Tagliapietra, and Guntram B. Wolff
Publication Date:
05-2020
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
COVID-19 has triggered a severe recession and policymakers in European Union countries are providing generous, largely indiscriminate, support to companies. As the recession gets deeper, a more comprehensive strategy is needed. This should be based on four principles: viability of supported entities, fairness, achieving societal goals, and giving society a share in future profits. The effort should be structured around equity and recovery funds with borrowing at EU level.
Topic:
Climate Change, Energy Policy, Global Recession, European Union, and COVID-19
Political Geography:
Europe

4. Justice for All and the Economic Crisis

Author:
David Steven and Maaike de Langen
Publication Date:
07-2020
Content Type:
Policy Brief
Institution:
Center on International Cooperation
Abstract:
The COVID-19 pandemic has triggered what may be the worst global recession since the Second World War—and the impact of this second-order crisis will be widespread, including in the justice sector. Access to justice has been affected by the public health response to the coronavirus, but it will also be challenged by the economic downturn. The first in this series—Justice for All and the Public Health Emergency set out recommendations for how justice systems and actors can respond to the health impacts of the pandemic. This second briefing now turns to the question of how the economic downturn will affect access to justice—and how justice systems and partners can play a role in the recovery. The briefing examines how the economic effects of COVID-19 impact common justice problems, and how justice systems can anticipate and innovate in response. It provides recommendations for how justice systems and actors can react nimbly to the pandemic’s effects, and look ahead for opportunities to build back better, reshaping justice systems so they can support more inclusive, sustainable, and resilient economies.
Topic:
United Nations, Global Recession, Rule of Law, Crisis Management, and COVID-19
Political Geography:
Global Focus

5. Countering shrinking spaces: Recommendations to support EU civil society

Author:
Sophie Pornschlegel
Publication Date:
06-2020
Content Type:
Working Paper
Institution:
European Policy Centre
Abstract:
Civil society is a crucial ally in safeguarding and upholding the European Union's (EU) values. And although the EU, and in particular the European Commission, has made a conscious effort to support civil society organisations (CSOs) across Europe, it has not been enough to counter the phenomenon of 'shrinking spaces' effectively. As the COVID-19 crisis is likely to harm civil society across Europe, through the growing restrictions on civil liberties and the subsequent economic recession, the need for better and more comprehensive support has never been more urgent. Within the realm of the Treaties, the EU institutions could take a range of measures to improve its civil society support. It could come up with a more comprehensive strategy outlining its approach towards civil society; provide adequate and flexible financial resources to respond to the needs of CSOs; and improve its dialogue processes, to 'CSO-proof' its legislation but also to benefit from the bridge-building function of civil society, thereby linking the EU's support for civil society to its attempts to improve democratic participation. While the newly presented recovery instrument and the revised proposal for the next Multiannual Financial Framework (MFF) are important steps to provide the necessary help for European societies and economies to recover, civil society support does not seem to be a priority. This is a dangerous omission. The EU must recognise the value of civil society in safeguarding democratic principles and upholding the Union's core principles. If it fails to better support CSOs through this challenging time, the EU will be able to do little else but stand and watch as democratic backsliding intensifies across member states and, in some cases, will eventually tip over into a downward spiral towards authoritarianism.
Topic:
Civil Society, Global Recession, Authoritarianism, European Union, and COVID-19
Political Geography:
Europe