Search

Begin New Search Topic Economics

851. Keeping Indonesia's economy afloat through the COVID-19 pandemic

Author:
Roland Rajah and Stephen Grenville
Publication Date:
07-2020
Content Type:
Policy Brief
Institution:
Lowy Institute for International Policy
Abstract:
The principal economic problem facing Indonesia amid COVID-19 is financing the budget deficit needed to respond to a once-in-a-lifetime shock. In a world of self-help, Indonesia has been right to turn to Bank Indonesia, which could establish a clear policy of yield curve stabilisation as a basis for providing a readily scalable amount of deficit financing. Key bilateral partners, such as Australia, could complement this by providing a large standby loan facility to help reduce some of the inherent risks of Indonesia relying on its central bank.
Topic:
Economics, Budget, Banks, and COVID-19
Political Geography:
Indonesia, Australia, and Southeast Asia

852. Demanding the Future: Navigating the Pacific's Youth Bulge

Author:
Catherine Wilson
Publication Date:
07-2020
Content Type:
Commentary and Analysis
Institution:
Lowy Institute for International Policy
Abstract:
High population growth is driving a rapid increase in the proportion of young people in Pacific Island countries, with half the region's population aged under 23. This 'youth bulge' is particularly acute in Melanesian states and will have a major impact on every area of development in the region in the coming decades. Economic prosperity, political success and social stability in the Pacific Islands region in the future will depend on harnessing this demographic dividend and preventing youth marginalisation and disillusionment. Urgent and coordinated national and regional responses should include addressing pressing health problems, expanding Australia's seasonal worker scheme, increasing migration pathways, and targeted skills and employment programs.
Topic:
Demographics, Economics, Migration, Politics, Employment, Youth, Population Growth, and Marginalization
Political Geography:
Melanesia and Pacific Ocean

853. Penicillin and the Antibiotic Revolution

Author:
Daniel Rowe and Christopher McKenna
Publication Date:
08-2020
Content Type:
Case Study
Institution:
Oxford Centre for Global History
Abstract:
In October 1945, Alexander Fleming, Howard Florey, and Ernest Chain each received an almost identical telegram from Stockholm, Sweden. The Nobel Prize Committee, these messages read, was pleased to inform the three British-based scientists that they had been awarded the Nobel Prize for Medicine, for the ‘discovery of penicillin and its curative action in various diseases.’ This was not surprising news. In fact, a year earlier, two major newspapers had informed their readers that Fleming would receive the prestigious award in 1944. Although the reporters’ stories were a year ahead of their time, they were right that the global scientific community had generally agreed that the world’s first antibiotic was a landmark in medical history worthy of Nobel Prize recognition. It was simply a question of when, not if, the prize would be awarded.
Topic:
Economics, Health, History, and Medicine
Political Geography:
Sweden and Global Focus

854. Morris Motors: How Oxford became a Motor City

Author:
David White, Jack Felton, and Christopher McKenna
Publication Date:
02-2020
Content Type:
Case Study
Institution:
Oxford Centre for Global History
Abstract:
Oxford’s history is one of industry. One of Britain’s largest cities in the medieval and early modern period at a crucial crossing of the River Thames, the city remained a transport hub through the First Industrial Revolution. As the meeting point of the West Midlands’ canal network and the major river, Oxford facilitated water transport between the industrial heartlands and the capital. With the advent of the railways, Oxford’s position as a crossroads solidified. Later, Oxfordshire’s inland position and relatively flat geography would make it an ideal location for airbases in wartime. Road traffic, first horse-drawn and later horseless, also passed through Oxford as major roads led to and from the city. But Oxford is a home to vehicle manufacture not just a transport hub. Oxford is the UK’s motor city. These days the majority of Formula 1 teams have their headquarters in Oxfordshire, while BMW’s Mini plant is situated in the Cowley area of Oxford on the site of the old Morris Motors factory.
Topic:
Economics, History, Capitalism, Transportation, Industry, and Cars
Political Geography:
Britain and UK

855. Money, Cattle Hides and William A Leidesdorff: California before the Gold Rush

Author:
Jonathan Tiemann, Oenone Kubie, and Christopher McKenna
Publication Date:
08-2020
Content Type:
Case Study
Institution:
Oxford Centre for Global History
Abstract:
The discovery of gold in January 1848, at Nueva Helvetia, John Sutter’s property in the Sacramento Valley, changed the course of Californian history. By the end of March, San Francisco had emptied as its population swarmed to the gold fields that had opened up around Sutter’s lumbermills and by August, the East Coast newspapers were reporting the discovery of Californian gold. In December of that year, President James K Polk confirmed the find in front of Congress and in 1849, one of America’s largest migrations ever took place as hundreds of thousands of gold prospectors, the ‘Forty-niners’, descended on ‘Gold Country’.
Topic:
Agriculture, Economics, History, Natural Resources, Capitalism, Economic Development, Cattle, and Farming
Political Geography:
United States

856. The Economic Impact of McCarran (Las Vegas) Airport

Author:
Oxford Economics
Publication Date:
01-2020
Content Type:
Commentary and Analysis
Institution:
Oxford Economics
Abstract:
McCarran and its sister airports bring widespread benefit to the Las Vegas region. Oxford Economics found that 25% of all jobs in the region are supported by airport operations and that the benefit is widespread. For example, passengers arriving by air support over 115,000 jobs in the hospitality and leisure industry and 11,000 jobs in manufacturing and related activities are supported by cargo operations. Just as importantly, direct access from McCarran to global markets help Las Vegas diversify its economy and attract new companies to the region.
Topic:
Economics, Tourism, Job Creation, and Travel
Political Geography:
North America, United States of America, and Las Vegas

857. Levant Illicit Tobacco 2019

Author:
Oxford Economics
Publication Date:
03-2020
Content Type:
Commentary and Analysis
Institution:
Oxford Economics
Abstract:
This report provides an overview of the nature of illicit trade in cigarettes across three markets in the Levant region: Egypt, Jordan, and Lebanon. It establishes estimates of Illicit Consumption in each market and the impact it has on government tax revenue.
Topic:
Economics, Markets, Finance, and Illegal Trade
Political Geography:
Africa, Middle East, Lebanon, Egypt, and Jordan

858. The Economic Impact of COVID-19 on Asia-Pacific

Author:
Oxford Economics
Publication Date:
04-2020
Content Type:
Commentary and Analysis
Institution:
Oxford Economics
Abstract:
In this report, Oxford Economics looks at the impact the COVID-19 pandemic on the economies of Asia-Pacific. We look at the impact of lockdown measures to contain the pandemic in China and other economies in the region, and their toll on business and households. As the COVID-19 pandemic continues around the globe, governments, investors, business and households are beginning to understand the financial and economic costs more clearly. In this report we examine the channels through which COVID-19 has impacted on the economies of the Asia-Pacific region. We explore the economic cost of lockdown measures, particularly so in China, as well as knock-on effects through supply-chains, tourism, and financial markets. We set out our forecasts for an historically-sharp downturn in the first half of 2020, but potential for a rapid recovery starting later this year and into 2021. Finally, we examine a downside scenario, simulated using our Global Economic Model, in which lockdown measures spread globally and the economic cost is even greater than in our baseline forecast.
Topic:
Economics, Public Health, Pandemic, and COVID-19
Political Geography:
Asia and Asia-Pacific

859. The Projected Economic Impact of COVID-19 on the U.K. Creative Industries

Author:
Alice Gambarin and Osman Ismail
Publication Date:
06-2020
Content Type:
Working Paper
Institution:
Oxford Economics
Abstract:
This report explores the short-term effects of Covid-19 on the financial sustainability of the creative industries in the UK. Along with the tourism sector, Creative Industries (CIs) are among the most affected by the current Covid-19 crisis. Creative workers, one of the more vulnerable sectors of the workforce, are already seeing devastating impacts on their income, not only in turnover terms, but also in their charitable contributions and sponsorship. Leaving behind the more fragile part of the sector could cause irreparable socio-economic damage. We find that the Creative Industries are projecting a combined £77bn turnover loss over the course of 2020 compared to 2019 (-31%). This is expected to translate into a GVA shortfall of £29bn in 2020 compared to 2019 (-26%), over half of which is in London. In 2020, CIs are projecting a 122,000 drop in employment among employees (despite the Coronavirus Job Retention Scheme - JRS) and a further 287,000 job losses among self employed workers, compared to 2019 levels. In total, 409,000 CIs jobs are considered at risk, 27% of which are in London and 20% are in the South East.
Topic:
Economics, Public Health, Pandemic, COVID-19, and Socioeconomics
Political Geography:
United Kingdom and Europe

860. Illicit Cigarette Consumption in Mexico

Author:
Oxford Economics
Publication Date:
09-2020
Content Type:
Commentary and Analysis
Institution:
Oxford Economics
Abstract:
This research seeks to quantify the size and scale of the illicit consumption of cigarettes in Mexico, as well as the impact on government revenues, for the most recent 12-month period pre-Coronavirus.
Topic:
Economics, Governance, Illegal Trade, and Consumerism
Political Geography:
North America and Mexico