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2671. Changes in Consumer Behavior Of Gen Y’ers in Covid-19 Pandemic

Author:
Cemal Aksoy and Ahu Ergen
Publication Date:
12-2020
Content Type:
Journal Article
Journal:
AURUM Journal of Social Sciences
Institution:
Altinbas University
Abstract:
The economic challenges in different countries from past to present have global effects affecting the whole consumers. Today, especially young consumers are at the centre of the economy and understanding their consumer behaviour deeply in especially economically challenging days such as this pandemic of COVID-19 enables companies to make the right decisions. In this study, the effects of the economic challenges and the changes in the consumer behaviour of Generation Y’ers in the COVID-19 pandemic are examined both theoretically and practically. This study was conducted with 12 consumers from Generation Y living in Istanbul. The analysis shows that they prefer cheap and discounted products. They are more careful about spending money and they avoid extravagance. The results show that consumers are negatively affected by the economic consequences of COVID-19.
Topic:
Economics, Interview, COVID-19, Generation Y, and Consumer Behavior
Political Geography:
Turkey, Middle East, and Mediterranean

2672. Turkey’s Membership Process In a Multi-Speed European Union

Author:
Ekrem Yaşar Akçay and İdris Turan
Publication Date:
07-2020
Content Type:
Journal Article
Journal:
AURUM Journal of Social Sciences
Institution:
Altinbas University
Abstract:
The European Union, established after World War II, has strengthened the revival of Europe, which has suffered greatly due to the war in many areas, including economic, political and socio-cultural. At the same time, the European Union overtook the conflicts between states. The European Union, which has occasionally passed through major breaks since its foundation, has recently begun to evolve into a new structure called multispeed Europe. On the 60th anniversary of the signing of the Treaty of Rome, the member states, for the first time, have mentioned this new structure in an official publication. This structure has led to disagreements 13 among EU member states. On the other hand, it is also a matter of curiosity how the candidate countries will follow once this structure is created. This study assesses the potential effects of a a multi-speed European Union on Turkey-EU relations. In addition, it tries to evaluate whether the EU’s new structure will be an advantage for Turkey or not. In other words, this study aims to explore the possibility of Turkey’s EU full membership in the EU’s new model.
Topic:
International Relations, Treaties and Agreements, European Union, and Regional Integration
Political Geography:
Europe, Turkey, Middle East, and Mediterranean

2673. Global Health Security and Pandemics: COVID-19 in Syria, Palestine and Lebanon

Publication Date:
05-2020
Content Type:
Video
Institution:
Mile End Institute, Queen Mary University of London
Abstract:
In this video, Dr Andreas Papamichail (Queen Mary University of London) speaks to Dr Abdulkarim Ekzayez (King’s College London), Dr Weeam Hammoudeh (Birzeit University) and Dr Nassim El Achi (American University of Beirut) about the current situation with respect to the coronavirus pandemic in Syria, Palestine and Lebanon, and how the political situation in the three countries is affecting the response to the outbreak.
Topic:
Security, Public Health, Pandemic, and COVID-19
Political Geography:
Middle East, Palestine, Lebanon, and Syria

2674. Touching the Void: Economic Collapse and Popular Protest in the Levant

Author:
Peter Bartu
Publication Date:
09-2020
Content Type:
Journal Article
Journal:
Brown Journal of World Affairs
Institution:
Brown Journal of World Affairs
Abstract:
At the end of 2019, quasi-revolutionary popular protests forced the resigna- tion of two prime ministers in Lebanon and Iraq. With these protests came the opportunity for political and economic reforms that were as wide-ranging as those called for during the 2011 Arab uprisings. The challenge was to steer the public energy of city squares into policies that would affect genuine institutional change and improve the economies of both states. More recently, the COVID-19 pandemic and the oil price crash have had calamitous consequences for Iraq and Lebanon’s rank and file. Lebanon faces hyperinflation, increasing food insecurity, and the collapse of its middle class. Meanwhile, Iraq’s government cannot meet its monthly payroll, has not fostered an active private sector, and has failed to create robust financial institutions—Iraq’s banking sector has been described as a “monetary dystopia.”1 Although economic prospects look bleak in the Levant, there is still a way out of this. It is time to bring in forensic auditors, apply cur- rency controls, and consider a regional approach to recovery. Those who benefit from the status quo will fiercely resist reform, but they can be circumvented by taking reform plans directly to the people by way of referendum. The future lies in going back to those marching in the squares.
Topic:
Economy, Protests, Inflation, COVID-19, and Economic Recovery
Political Geography:
Iraq, Middle East, and Lebanon

2675. Deposits Made “Sacred”: The Dangerous Red Line of Lebanon’s Elites

Author:
Mounir Mahmalat
Publication Date:
04-2020
Content Type:
Working Paper
Institution:
The John F. Kennedy School of Government at Harvard University
Abstract:
Facing the ashes of an economic model based on sectarianism and cronyism, Lebanon currently endures a perfect storm of overlapping financial, economic, and political crises. Since its inauguration on January 31, 2020, the technocratic government of Prime Minister Hassan Diab, aided by international advisors, elaborated an “economic rescue plan” to explore options for recovery. Leaked as a preliminary version in early April, the plan offers a sobering analysis of Lebanon’s economic realities. The plan exposes Lebanon’s present-day power struggle between traditional communal elites and a reformist protest movement. While some assumptions and projections are questionable or left unexplained, in conclusion, the plan depicts as inevitable a contribution of large deposits in the form of “bail-in’s” to cover losses only in the banking sector twice as large as the national economy. In such a scenario, a part of the largest deposits could be transformed into bank equity or placed into a dedicated fund to be replenished with reclaimed “stolen funds.” While some assumptions and projections are questionable or left unexplained, the plan makes visible the power struggle between an elite trying to preserve its interests in the status quo and a reformist protest movement. As a major conclusion, the plan depicts as inevitable a contribution of large deposits in the form of “bail-in’s” to cover losses only in the banking sector twice as large as the national economy. In such a scenario, a part of the largest deposits could be transformed into bank equity or placed into a dedicated fund to be replenished with reclaimed “stolen funds.” Communal elites and party leaders didn’t spare strong words to denounce that plan. While Nabieh Berri unceremoniously declared deposits as “sacred”, former Prime Minister Saad Hariri prophesied “economic suicide” when deposits would be used to cover banks’ losses (assumed that much more could be murdered in the economy). Other leaders from all political parties followed suit, including Hezbollah and the Progressive Socialist Party. Liquidity injections into the banking system in a “bail-out” scenario should leave deposits untouched and be financed largely by privatization of state assets. Despite the high stakes at play for politicians’ bank accounts and the legal complexity of bail-ins, this unusual unity is not trivial to explain. For sure, by accepting any cut on deposits, elites would admit political defeat and declare a 30-year legacy of economic policies as a miserable failure.
Topic:
Reform, Economy, Elites, and Economic Crisis
Political Geography:
Middle East and Lebanon