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In developing countries like Tanzania, gems and jewellery industry mainly consists of disintegrated and unstable micro and small workshops which operate in a way that misalign value addition processes. This study is aimed to bridge gap by focussing on exploitation of industrial clusters in social normalisation and economic resilience to developing countries. The world economic shocks has been not only individually experienced but also globally shared while disrupted lives across all countries and communities and negatively affected global socio-economic growth.

Furthermore, the explorative design was adopted in this study in order to explore needs of respondents, and with the aim to direct the study towards a descriptive design. The sample frame consists of participants in gems and jewellery activities in Tanzania whereby sample was drawn from Dar es Salaam and Arusha. Semi-structured interview was used to collect quantitative data to establish evidence of Tanzanians’ SSJs linked to global value chains (GVCs).

Results revealed the benefits of exploitation of artisanal industrial clusters to Tanzanians’ SSJs when linked to global value chains (GVCs). Findings of the study demonstrate the importance of artisanal industrial clusters in facilitating Tanzanians’ SSJs to access GVCs. Further, insufficient education, trust and social protection directly affects inclusive GVCs, inferring that the impact of artisanal industrial clusters on inclusive GVCs in social normalisation and economic resilience.

Study findings reveals shortcomings in existing regulatory framework of linking Tanzanians’ SSJs to artisanal industrial clusters, for improvements to better support the inclusiveness in GVCs. Findings of this research invite interventions on institutional capabilities and entrepreneurial competencies to enhance the capabilities of small-scale jewellers (SSJs). Like other studies, this study involved cross-sectional data, limit targeted study population as representative of SSJs in industrial clusters and GVCs in economic crises at limited time.

The study findings makes important practical contributions to the Tanzania’s SSJs by examining mediating role of artisanal industrial clusters hence informing policymakers of mining sector how to improve accessibility on GVCs by focus on offering great institutional capabilities and entrepreneurial competencies. These findings will help SSJs and policy makers to get better understanding of the relationships in exploitation of artisanal industrial clusters when accessing GVCs. Therefore, they can make better decisions on implementing artisanal industrial clusters as well as management accessing GVCs, so that SSJs will attain the best possible performance.

This emphasises the importance of community empowerment in the GVCs process through artisanal industrial clusters. Study findings indicate the influence of industrial relations to social dynamics which are previously inadequately addressed and scantly researched. In actual fact study propose initiatives that ensure local communities benefit socially from the integration of SSJs into GVCs through artisanal industrial clusters. Findings suggest local communities that take into account inter-sectionality of artisanal industrial clusters and inclusive GVCs, by considering how factors like education, trust and social protection status intersect to influence the social inclusiveness of SSJs.

There is limited evidence of linking Tanzanians’ SSJs to GVCs in social normalisation and economic resilience and few researchers have explored this topic. This article leverages exploitation of industrial clusters in normalisation and economic resilience to developing countries such as Tanzania as way of improving shared prosperity, sustainability, inclusive growth, cohesion, value chain upgrading and financial inclusion to SSJs.

This paper examines the relationship between entrepreneurs' internality of causal attributions and firm growth during an economic crisis. We propose a U-shaped relationship between the two variables, arguing that the highest-growth entrepreneurs are those with either the highest or lowest levels of internal attribution (IA) during such periods.

To test our hypothesis, we analyze a database of 804 interviews with entrepreneurs in Brazil during a period of economic stress. Due to the existence of endogeneity, we estimate a model of simultaneous equations in two stages.

We find evidence of a U-shaped relationship. This means that during economic stress, the fastest-growing entrepreneurs are those who rely more on their own effort (high IA) and those who attribute their success to the economic crisis (low IA).

Tailoring interventions based on attribution patterns and recognizing the U-shaped relationship ensures effective support during economic stress. Entrepreneurial support programs should align with internality levels, emphasizing external awareness or skill development accordingly. Policymakers should take attributions into account when promoting financial resilience. Entrepreneurs would benefit from awareness programs on attributions for reflective decision-making. Ecosystems should foster collaboration by recognizing diverse attributions, enhancing a collective understanding of entrepreneurial responses in crises.

Our results have important implications for understanding the role of entrepreneurs in economic crises. Our results are relevant because they challenge the usual claim that entrepreneurs with high IA are the ones who perform better in situations where external economic conditions are adverse.

The authors construct an index of economic policy uncertainty (EPU) for Greece using textual analysis and analyze its role in the 10-year Greek economic crisis.

To identify the causal relationship between various measures of economic activity and EPU in Greece, the authors use a sophisticated “shock-based” structural vector autoregressive identification scheme. Additionally, the authors use two additional models to ensure the robustness of the results.

EPU is negatively associated with domestic economic activity and economic sentiment, and positively with bond credit spreads. EPU is also estimated to have prolonged the crisis even in periods when macroeconomic imbalances were cured. The results are robust across various model specifications and different proxies of economic activity.

Brunnermeier (2017) observed that uncertainty may be central to understanding the evolution of the Greek crisis. Yet little attention has been paid to policy uncertainty in the existing long and growing literature on the Greek crisis. The authors attempt to fill this gap.

The COVID-19 pandemic severely impacted tourism, and the hotel and restaurant industry was the most affected sector, which faced issues related to business uncertainty and unemployment during the crisis. The analysis of recovery time and the influence factors is significant to support policymakers in developing an effective response and mitigating the risks associated with the tourism crisis. This study aims to investigate numerous factors affecting the recovery time of the hotel and restaurant sector after the COVID-19 crisis by using survival analysis.

This study uses the quarterly value added with the observation time from quarter 1 in 2020 to quarter 1 in 2023 to measure the recovery status. The recovery time refers to the number of quarters needed for the hotel and restaurant sector to get value added equal to or exceed the value added before the crisis. This study applies survival models, including lognormal regression, Weibull regression, and Cox regression, to investigate the effect of numerous factors on the hazard ratio of recovery time of hotels and restaurants after the COVID-19 crisis. This model accommodates all cases, including “recovered” and “not recovered yet” areas.

The empirical findings represented that the Cox regression model stratified by the area type fit the data well. The priority tourism areas had a longer recovery time than the non-priority areas, but they had a higher probability of recovery from a crisis of the same magnitude. The size of the regional gross domestic product, decentralization funds, multiplier effect, recovery time of transportation, and recovery time of the service sector had a significant impact on the probability of recovery.

This study contributes to the literature by examining the recovery time of the hotel and restaurant sector across Indonesian provinces after the COVID-19 crisis. Employing survival analysis, this study identifies the pivotal factors affecting the probability of recovery. Moreover, this study stands as a pioneer in investigating the multiplier effect of the regional tourism and its impact on the speed of recovery.

In the context of debates on the role of social partners in shaping anti-crisis policies, the article explores the developments of social dialogue in Poland following the outbreak of the pandemic. The central research question is whether the crisis has helped to revitalise social dialogue or has it further revealed its weaknesses that were apparent before it.

The paper is based on the combination of literature review and the analysis of primary data derived from 22 expert interviews with the representatives of trade unions, employers and ministries collected in 2020–2021 in four essential industries (education, health care, social care and logistics).

The analysis suggests that the pandemic led to reinforcement of “illusory corporatism” in Poland, deepened mistrust among social partners and triggered a shift to informal channels of influencing policymaking. The weakness of the social partners and the strong position of the right-wing populist government meant that fears of recession and a health crisis were insufficient to develop “crisis” corporatism. While business interests were represented better than labour in policymaking, limited labour-friendly outcomes have been achieved as a result of workers’ mobilisation and unilateral decisions of the government rather than tripartite social dialogue.

Based on original empirical research, the article contributes to the discussion on the impact of the crisis on social dialogue under patchwork capitalism. It points to the role of strong governments and informality in circumventing tripartite structures and the importance of essential workers’ mobilisation in response to the lack of social dialogue.

This paper presents a review of literature, aimed at analyzing and understanding the nexus of knowledge on the topic of government budgetary responses to COVID-19 and identifying gaps for future research directions on crisis budgeting.

A systematic literature review approach was conducted by considering scientific journal articles written in English and published through 2020–2022. The databases used for the literature search in this paper were Scopus and Web of Science, resulting in 41 articles for final review.

This review found that in a crisis, budgetary responses were greatly determined by perceived uncertainties. In the case of the COVID-19 crisis, governments seemed to prioritize economic recovery. While many studies have documented budgetary responses to the crisis, most were written in the beginning of the crisis through documentary content analysis, leaving significant research gaps. Thus, this review offers directions for future research concerning governmental response to perceived uncertainty, logic behind governments' budgeting strategies, sustainable development principles within crisis budgeting and the prioritization of economic considerations in a health crisis.

This paper is one of the first to present insights into the state of research regarding the topic of government budgeting during the COVID-19 crisis. In addition, it provides insights from the literature for anticipating future shocks and crises, along with directions for future researchers in developing their research agenda.

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-01-2023-0057

This study aims to measure impact of several firm-specific factors on alternative measures of leverage. The authors also aim to study impact of the subprime crisis on such associations.

The authors utilized an unbalanced panel data of 973 firm-year observations on 47 UK listed non-financial firms for the years 1990–2019. Book-based and market-based long-term and total leverage measures have been used as explained variables. The explanatory variables are profitability, size, two measures of growth, asset tangibility, non-debt tax shields, firm age and product uniqueness. Fixed effect and random effect models with clustered robust standard errors have been utilized for data analysis. To find the effect of subprime crisis, original dataset was split to create pre-crisis and post-crisis datasets.

The authors find that profitability significantly reduces leverage while firms having more tangible assets use significantly more debt in capital structure. Firm size and non-debt tax shield have statistically insignificant positive impact on leverage. Having more unique products reduces use of external debt, albeit insignificantly. Growth, when measured as market-to-book ratio, has inconsistent impact, whereas capital expenditure insignificantly reduces leverage. Age is found to be an insignificant predictor of leverage. After the subprime crisis, firms started relying more on internal fund instead of external debt, more particularly short-term debt. Having more collateral is gradually becoming more important for availing external debt.

Data limitations restrict generalization of the findings.

This is one of the pioneering attempts to show how subprime crisis altered the theoretical domain of capital structure research in the UK.

This study aims to identify the major job stressors that can affect employees’ mental health in the Lebanese commercial banks during the economic turmoil. This study also aims to identify the effects of the mental problems on the employees in addition to the role of human resources in promoting and preventing mental well-being at the workplace.

The authors interviewed 28 bank employees and the semi-structured interviews last for around 50 min, starting by asking the employees a general question about the concept of mental health disorder. The authors used a purposive sampling in which the population sample is selected based on purpose and the characteristics of a specific category of individuals. Moreover, a thematic analysis is used to analyze the data.

The findings of this study indicate that most of the employees were suffering from many work-related stressors that have negatively affected their mental well-being. The stress and pressures have significantly increased during the economic crisis. However, most of the interviewees were not or rarely supported by their human resources department and their administration to help them get adapted for such a crisis or for the changes at the workplace.

Mental health disorders are present in the daily normal life and in the workplace as well. The banking industry is not an exceptional one.

Health risks associated with coronavirus disease 2019 (COVID-19) have severely affected the financial stability of airline companies globally. Recapturing financial stability following this crisis depends heavily on these companies’ ability to attain efficient and productive operations. This study uses several empirical approaches to examine key factors contributing to carriers sustaining high productivity prior to, during and after a major recession. Findings suggest, regardless of economic conditions, that social distancing which requires airline companies in the Asia Pacific region to fly with a significant percentage of unfilled seats weakens the performance of those companies. Furthermore, efficient operations do not guarantee the avoidance of productivity declines, especially during a recession.

Agricultural banks likely respond differently to economic downturns compared to nonagricultural banks. Limited previous research has examined the performance of agricultural banks under economic crisis and in the presence of banking regulations. This study aims to explore agricultural banks' responses to economic and regulation shocks relative to nonagricultural banks.

This study uses bank-quarter level data from 2002 to 2022 for virtually all commercial banks in the U.S. In this research, the Z-score measures the bank’s default risk, the return on assets measures bank profitability and changes in amount of farm loans indicate the wider impact on the agricultural sector. Effects of the financial crisis, Basel III reforms to banking regulation and the coronavirus (COVID-19) pandemic on these banking measures are assessed using distinct empirical frameworks. The empirical estimations use various subsamples based on bank types, bank sizes and time periods.

Economic downturns are associated with fluctuations in returns and the risk of default of commercial banks. Agricultural banks appeared to be more resilient to economic downturns than nonagricultural banks. However, Basel III regulated agricultural banks were more likely to fail amidst the pandemic-related economic shocks than the regulated non-agricultural banks.

This study examines the resiliency of agricultural banks during economic downturns and under postfinancial crisis regulation. This is one of the first empirical works to analyze the effectiveness of Basel III regulation across bank types and sizes considering the COVID-19 pandemic. The key finding suggests that banking regulation should consider not only size heterogeneity but also the heterogeneity in lending portfolios.