In terms of government and its role, government's measures are essential to post-COVID recovery - focused on a number of areas: regulation, risk socialization, and mitigation of moral hazard issues. These are all the most important as markets are unable to balance themselves automatically. The role of active government is essential because the nature of the COVID shock generates important externalities that cannot be resolved through the pricing system. The second argument concerns the absence of a risk market and, respectively, the fact that individuals and companies do not have insurance instruments against the problems caused by the disease and its economic consequences, the interruption of business as a result of COVID lockdown not being covered by insurance companies. This also has an impact on aggregate consumption and demand amid the cautious behavior of households and businesses that are prone to delay or completely cancel consumption and investment. The third argument concerns the compensation allocated to companies for disaster preparedness. This is another market failure associated with the need to compensate companies for taking measures that are capitalized only in the event of unusual events.
The basic issue of reducing greenhouse gas emissions in the context of the Green Deal highlights the ways in which the negative effects that can occur on different vulnerable groups (low-income people, vulnerable consumers, workers in polluting sectors) who may be the big losers in the transition to a greener economy. The negative effects can be transmitted both through rising energy prices (electricity, natural gas, fuels) with a direct impact on real incomes, but also on the labor market if some sectors of activity will disappear completely (for example, coal or oil extraction) or will have to be radically transformed (transport, construction, industry) to become less polluting (low-carbon sectors).
The predominant economic motive behind global value chains in recent decades is to pursue minimum global costs and maximum efficiency, which has led to long and sophisticated global supply chains spread across the globe but mainly concentrated in emerging economies' development. While recent political and economic events (e.g., the US-China trade war and the Ukraine-Russia war) have highlighted the trade and functional fragility of global supply chains, the emergence of the COVID-19 pandemic is accelerating changes in global supply patterns value. When the world slowly recovers from the COVID-19 pandemic, the vulnerabilities and certain risks of global supply chains can no longer be overlooked. The paradigm behind global value chains will need to be re-evaluated and optimized.
The two research paths are addressed in the Research Topic, we want to create and especially on the fact there is an academic blind spot regarding a holistic overview of the link between a greener economy, global value chains, and resilience in front of the unknown like COVID-19 was.
There is a need for a better approach in academia and business to foresee or to downgrade the level of macroeconomic and social stress developed of the ideas stated earlier, we have the opportunity to generate a Research Topic that offers solutions, ideological breakthroughs, academic pathways and sustainable processes needed for generating know-how and awareness to keep the future sustainable, economic growth at a higher pace without overheating the economy and also keep an eye on the quality of mankind going through the waves of cancel culture of unrealistic expectations regarding the future.
The types of articles that are most appropriate for this article collection are original research, systematic reviews, reviews, policy and practice reviews, perspectives, conceptual analyses, policy briefs, and opinions.
The main areas of research that we target are:
• Greenhouse emissions and the Green Deal in the actual global context
• Post COVID-19 public policies developed by the government
• Global value chains and the incapacity to form Aggregate Demand
• Sustainability and resilience from a governmental point of view
• The role of the government in giving proactive tools to the public administration to fight unforeseen economic distress
Topic Editor Dumitru Alexandru Bodislav, (Bucharest University of Economic Studies) is a co-owner and CEO of 3Advanced Technologies, project director of "Socio-Economic Effects of the COVID19 Pandemics on the Romanian Economy” (project developed for the Romanian Government - Ministry of Finance), and managing partner of consulting company Bodislav & Associates. All other Topic Editors declare no competing interests with regard to the Research Topic subject.
In terms of government and its role, government's measures are essential to post-COVID recovery - focused on a number of areas: regulation, risk socialization, and mitigation of moral hazard issues. These are all the most important as markets are unable to balance themselves automatically. The role of active government is essential because the nature of the COVID shock generates important externalities that cannot be resolved through the pricing system. The second argument concerns the absence of a risk market and, respectively, the fact that individuals and companies do not have insurance instruments against the problems caused by the disease and its economic consequences, the interruption of business as a result of COVID lockdown not being covered by insurance companies. This also has an impact on aggregate consumption and demand amid the cautious behavior of households and businesses that are prone to delay or completely cancel consumption and investment. The third argument concerns the compensation allocated to companies for disaster preparedness. This is another market failure associated with the need to compensate companies for taking measures that are capitalized only in the event of unusual events.
The basic issue of reducing greenhouse gas emissions in the context of the Green Deal highlights the ways in which the negative effects that can occur on different vulnerable groups (low-income people, vulnerable consumers, workers in polluting sectors) who may be the big losers in the transition to a greener economy. The negative effects can be transmitted both through rising energy prices (electricity, natural gas, fuels) with a direct impact on real incomes, but also on the labor market if some sectors of activity will disappear completely (for example, coal or oil extraction) or will have to be radically transformed (transport, construction, industry) to become less polluting (low-carbon sectors).
The predominant economic motive behind global value chains in recent decades is to pursue minimum global costs and maximum efficiency, which has led to long and sophisticated global supply chains spread across the globe but mainly concentrated in emerging economies' development. While recent political and economic events (e.g., the US-China trade war and the Ukraine-Russia war) have highlighted the trade and functional fragility of global supply chains, the emergence of the COVID-19 pandemic is accelerating changes in global supply patterns value. When the world slowly recovers from the COVID-19 pandemic, the vulnerabilities and certain risks of global supply chains can no longer be overlooked. The paradigm behind global value chains will need to be re-evaluated and optimized.
The two research paths are addressed in the Research Topic, we want to create and especially on the fact there is an academic blind spot regarding a holistic overview of the link between a greener economy, global value chains, and resilience in front of the unknown like COVID-19 was.
There is a need for a better approach in academia and business to foresee or to downgrade the level of macroeconomic and social stress developed of the ideas stated earlier, we have the opportunity to generate a Research Topic that offers solutions, ideological breakthroughs, academic pathways and sustainable processes needed for generating know-how and awareness to keep the future sustainable, economic growth at a higher pace without overheating the economy and also keep an eye on the quality of mankind going through the waves of cancel culture of unrealistic expectations regarding the future.
The types of articles that are most appropriate for this article collection are original research, systematic reviews, reviews, policy and practice reviews, perspectives, conceptual analyses, policy briefs, and opinions.
The main areas of research that we target are:
• Greenhouse emissions and the Green Deal in the actual global context
• Post COVID-19 public policies developed by the government
• Global value chains and the incapacity to form Aggregate Demand
• Sustainability and resilience from a governmental point of view
• The role of the government in giving proactive tools to the public administration to fight unforeseen economic distress
Topic Editor Dumitru Alexandru Bodislav, (Bucharest University of Economic Studies) is a co-owner and CEO of 3Advanced Technologies, project director of "Socio-Economic Effects of the COVID19 Pandemics on the Romanian Economy” (project developed for the Romanian Government - Ministry of Finance), and managing partner of consulting company Bodislav & Associates. All other Topic Editors declare no competing interests with regard to the Research Topic subject.
