Revitalising Asean Economies In A Post-covid-19 World: Socioeconomic Issues In The New Normal

✍ Scribed by Hooi Hooi Lean

• Publisher: World Scientific Publishing
• Year: 2022
• Tongue: English
• Leaves: 283
• Category: Library

✦ Synopsis

The novel coronavirus (COVID-19) pandemic was reported in China in December 2019, and later spread to other parts of the world. Countries in Southeast Asia were some of the first nations affected by the pandemic due to their geographical proximities and trade relations with China. In January 2020, the virus spread to some countries within the Association of Southeast Asian Nations (ASEAN). The number of confirmed cases kept increasing within ASEAN and other countries of the world. Consequently, countries in ASEAN introduced preventive and containment measures to cope with the pandemic, which include quarantines, lockdowns, restrictions of movements and large gatherings, as well as school and business closures. Beyond the efforts of preventing and containing the spread of the virus, ASEAN's most significant challenges are the social and economic crisis of historic proportions that are beginning to unfold. COVID-19 pandemic has brought interruptions in all sectors of ASEAN economies. It is, therefore, imperative to assess the extent to which the pandemic has impacted the social and economic aspects of the region. This book intends to highlight the social and economic impacts of the COVID-19 pandemic in ASEAN and suggest ways on how to mitigate them. It covers how the shocks from COVID-19 have impacted production, supply chains, demand, commodity prices, consumer behaviour, financial markets, employment, services, transportation and community, and the various policies that ASEAN authorities should put in place to mitigate the effects of the pandemic.

✦ Table of Contents

Contents
About the Editor
Preface
Chapter 1 Impact of COVID-19 on Brunei Darussalam Economy
1. Introduction
2. Background of Brunei
3. COVID-19 Transmission in Brunei
4. COVID-19 Outbreak in Brunei and ASEAN
5. COVID-19 Policies and Restrictions
6. Brunei Macroeconomy
7. Sectoral Impact of COVID-19
7.1 Air transport and tourism sector
7.2 Hotel and retail industry
8. Supporting Policies for Economic Recovery
9. Lessons Learnt and Opportunities
References
Appendix: Timeline of COVID-19 Policies
About the Authors
Chapter 2 Cambodia’s Response to COVID-19 and its Socioeconomic Dimensions
1. Introduction
2. The Government Intervention
2.1 Health measures to contain the spread
2.2 Relief packages
2.3 Resource mobilisation and public revenues
3. Economic Consequences
3.1 Shocks on the main drivers of economic growth
3.1.1 The tourism and hospitality sector
3.1.2 The garment and footwear industry
3.1.3 Construction and real estate
3.2 Risks for the financial and banking sectors
4. Distributional Impacts and Socioeconomic Implications
4.1 The disruption of labour markets and the drop in incomes
4.2 Increased household indebtedness
4.3 Exacerbation of vulnerability
5. Conclusion
References
Acknowledgement
About the Author
Chapter 3 COVID-19 and the Economy: How Indonesia Responded
1. Introduction
2. Trend of COVID-19
3. Population Mobility
4. Government Fiscal Policies
5. Individual Responses
5.1 During shutdown
6. During Relaxation of Shutdown
6.1 People’s behaviour
6.2 Online activities
7. Business Behaviour
7.1 All firms
7.2 E-commerce
8. Macro-Economy
8.1 GDP growth
8.2 GDP composition
8.2.1 By expenditure
8.2.2 By industries
8.3 Employment
9. Concluding Remarks
References
About the Authors
Chapter 4 The Impact of the COVID-19 Pandemic on Malaysia’s Economy
1. Introduction
2. Important Economic Indicators in 2019–2020
2.1 Gross domestic product (GDP)
2.2 International trade
2.3 Inflation
2.4 Employment and unemployment
2.5 Business climate
2.6 Market sentiment
3. The Economic Policy on COVID-19 Pandemic
3.1 First stimulus package
3.2 Second stimulus package
3.3 Third stimulus package
3.4 Fourth stimulus package
3.5 Monetary policy adjustments
3.6 Budget 2021
4. Conclusion and Policy Recommendation
References
About the Authors
Chapter 5 COVID-19 Pandemic and the Malaysian Tourism
1. Introduction
2. Malaysian Tourism and Economic Development
3. Malaysian Tourism in Desolation
4. Pandemic Effect on Tourism Value Chain
5. Pandemic Effect on Hotel Industry
6. Pandemic’s Effect on Aviation Industry
7. Scenarios for Post-Pandemic Tourism Recovery
8. Conclusion and Policy Implications
Acknowledgement
References
About the Authors
Chapter 6 Financial Stress of Singapore in the Time of COVID-19
1. Introduction
2. Policy Responses of Singapore Government
2.1 Singapore’s COVID-19 cases
2.2 Coronavirus containment measures
2.3 Key economic policy responses to COVID-19
2.3.1 Fiscal policy
2.3.2 Monetary and macro-financial policy
3. Constructing FSI and Identifying Stress Episodes
4. FSI, COVID-19, and Global Financial Cycle
4.1 Data
4.2 Empirical method
4.3 Empirical results
4.4 Discussion about the empirical findings
5. Conclusion
Acknowledgements
References
About the Authors
Chapter 7 Impacts of COVID-19 Pandemic on Thai Fruit: A Case Study of Longan Supply Chain
1. Introduction
2. Literature Review
3. Research Methodology and Data Collection
4. Results
4.1 Overview of macro-level analysis
4.2 Thai fruits
4.2.1 Fruit growers or farmers
4.2.2 Harvest workers
4.2.3 Wholesaler and retailer
4.2.4 Fruit processing business
4.2.5 Transportation and logistics
4.3 Longan case study
4.4 Discussion
5. Conclusion
Acknowledgement
References
About the Authors
Chapter 8 COVID-19 in Vietnam: Perception of Urban Workers and Compliance with the National Social Distancing Policies
1. Introduction
2. Literature Review
2.1 Conceptual framework
2.2 Factors affecting perception and compliance in containing a pandemic
3. Data and Analytical Methods
3.1 Data
3.2 Analytical methods
4. Key Findings
4.1 Perception of the respondents on the COVID-19 pandemic
4.2 Compliance of the respondents to the policies for containing COVID-19 pandemic
5. Further Discussions and Concluding Remarks
References
Appendix — Questions for the Survey
About the Authors
Chapter 9 Successful Social Distancing to Contain COVID-19: Mapping the Readiness of the Vietnamese Households
1. Background
2. Data and Methods
2.1 Data
2.2 Methods
3. Results
4. Discussions
5. Conclusions
References
About the Author
Index