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This chapter investigates the impact of the COVID-19 pandemic on economic stimulus policies. Based on data from 156 economies, empirical results show that in the medium term, cumulative effect of COVID-19 pandemic is positively correlated with the economic stimulus policies but not in the short term. Heterogeneity tests show that while economic policies are used in developed economies more often, restrictive measures in developing countries are likely used as a substitution; deaths have a positive impact on economic stimulus policies but confirmed cases not. The results suggest that the pandemic may reinforce economic inequality due to potential stimulus policy capabilities, requiring international coordination and assistance to low-and-middle income countries in various aspects.

This study aims to develop a methodology for predicting the resilience of individual firms to economic crisis, using historical government data to optimize one of the most important and costly interventions that governments undertake, the huge economic stimulus programs that governments implement for mitigating the consequences of economic crises, by making them more focused on the less resilient and more vulnerable firms to the crisis, which have the highest need for government assistance and support.

The authors are leveraging existing firm-level data for economic crisis periods from government agencies having competencies/responsibilities in the domain of economy, such as Ministries of Finance and Statistical Authorities, to construct prediction models of the resilience of individual firms to the economic crisis based on firms’ characteristics (such as human resources, technology, strategies, processes and structure), using artificial intelligence (AI) techniques from the area of machine learning (ML).

The methodology has been applied using data from the Greek Ministry of Finance and Statistical Authority about 363 firms for the Greek economic crisis period 2009–2014 and has provided a satisfactory prediction of a measure of the resilience of individual firms to an economic crisis.

The authors’ study opens up new research directions concerning the exploitation of AI/ML in government for a critical government activity/intervention of high importance that mobilizes/spends huge financial resources. The main limitation is that the abovementioned first application of the proposed methodology has been based on a rather small data set from a single national context (Greece), so it is necessary to proceed to further application of this methodology using larger data sets and different national contexts.

The proposed methodology enables government agencies responsible for the implementation of such economic stimulus programs to proceed to radical transformations of them by predicting the resilience to economic crisis of the firms applying for government assistance and then directing/focusing the scarce available financial resources to/on the ones predicted to be more vulnerable, increasing substantially the effectiveness of these programs and the economic/social value they generate.

To the best of the authors’ knowledge, this study is the first application of AI/ML in government that leverages existing data for economic crisis periods to optimize and increase the effectiveness of the largest and most important and costly economic intervention that governments repeatedly have to make: the economic stimulus programs for mitigating the consequences of economic crises.

This study examined Taiwan's fiscal policy responses for sustainable post-COVID-19 recovery. The costs and benefits, aligned with Sustainable Development Goals (SDGs), of fiscal policy responses were identified and valued. Although it may be too early to conclude whether the benefits outweigh the costs, the performance and outcome of fiscal measures were evaluated.

The study relied on secondary data, including governmental official data, legislative reviews, audit reports and public opinion polls to understand objective and subjective benefits and costs in economic, social and environmental dimensions. However, while the costs were measured in monetary terms, some of the benefits (i.e. satisfaction) could not be monetized; therefore, this study focused on identifying and valuing benefits from fiscal measures but set aside the issues of monetizing and discounting.

With respect to the costs, a special budget of NT$840 billion was approved, of which 66.83% was allocated for economic development, 33.12% for social welfare and 0.05% for environmental protection. In terms of the benefits, the economic growth rate was forecasted to be 5.88% in 2021 and 3.69% in 2022, while the average economic growth rate was 2.77% during the period from 2012 to 2019. Social equity was emphasized as various and customized bailout packages were provided to impacted individuals and industries. Moreover, most citizens were confident in the government's efforts to combat the pandemic and stimulate recovery in Taiwan.

This paper comprehensively details Taiwan's experience of fiscal policy responses for sustainable post-COVID-19 recovery. The cost-benefit approach was conceptually adopted. Bearing the value of “build back better” and “rebuild better,” the benefits of fiscal measures are promising, although there are indebted costs of the special budget.

Many companies strengthen their interaction with consumers by establishing online communities and bring convenience to value co-creation with consumers. Some companies use economic and social strategies to stimulate consumer value creation. However, the way to increase the effectiveness of such corporate strategies remains unclear. To address this challenge, this study investigates the impact patterns of economic and social strategies that influence consumers' value co-creation behaviour in firm-hosted online communities (FOCs). Moreover, the effective conditions for the value co-creation of the two strategies are explored.

Data from an FOC were collected for electronic communications products. A total of 1,305 second-hand data records on value co-creation activities were obtained. Then, an econometric model was built and Stata14.0 software was used for data analysis.

The effect of economic interaction strategy on the value co-creation in online communities is an inverted U-shaped model, and that of social interaction strategy is relatively stable and is not an inverted U-shaped model. Value creation initiatives introduced by enterprise personnel adopt economic strategies to improve effectiveness. On the contrary, value co-creation activities initiated by consumers use social strategies for the same purpose. Economic strategies are effective for large teams, whereas social strategies may lead to a “free rider” mentality.

This study finds two important factors affecting the value co-creation in FOCs and their effective boundaries. However, other factors may also affect the online community value co-creation. Future research can further explore the intrinsic mechanisms of these strategies for value co-creation.

This article mainly discusses the influence of stimulation strategies on the value co-creation in an actual company community and exhibits good practical significance for the value co-creation activity and management in online communities. Firstly, corporate strategy is effective in communities, but this strategy requires proper control. Secondly, the company strategy must consider appropriate application conditions.

This study deepens the understanding of the impact of economic and social strategies on the value co-creation in FOCs and the effective boundaries of these impact patterns.

There is a long-going discussion in Russia focusing on finding new stimulus for economic growth. Being very rich with natural recourses, Russia has enjoyed extensive economic growth model for many centuries. The world is changing. Russia as any country which is to keep up with the dynamics and the quality of the world economic growth must find some new technologies and economic triggers. Green investment can be regarded as the key instrument to achieve faster economic growth and to make technological gap narrower. The chapter focuses on state policy and business practice in green investment in Russia.

The purpose of this paper is to give structure to the argument that “culture matters.” Further, the aim is to show how cultural differences shape the use of incentives within firms and point toward culturally affected degrees of efficiency.

The paper incorporates differences in the evaluation of the stimuli money, order, and monitoring into a simple efficiency wage model. Profit maximizing firms are assumed.

It is found that the use of incentives should respect the cultural surrounding. Data from a real-world analysis can partly be explained with this model, which was not done before.

The major limitation lies in the abstract nature in which economic models deal with incentives.

The theoretical predictions are tested against the findings of Bloom and van Reenen (2007). Although the model may apparently contribute to the explanation of differences in the relative use of monitoring and pay, it fails in do so for directives. The reason for this shortcoming is identified in the impossibility to clearly compare the empirical notion of directives as found in Bloom and van Reenen (2007) to the theoretical notion of directives applied in the model.

The paper is one of the few approaches dealing with cultural differences on an individualistic basis. Most findings on the importance of intercultural variation offer econometric analysis, leaving open how exactly culture affects individual behavior such that the observed differences can be explained. The model presented offers exactly such a link.

The purpose of the study is to analyse the impact of COVID-19 on the hospitality industry during the rise of worldwide pandemic crises using Twitter analysis. The study is based on 57,794 English-language tweets mined from Twitter from 1 April 2020 to 15 October 2020. Based on thematic and sentiment analysis, the study found that overall sentiments expressed on Twitter were negative. This chapter contributes to existing knowledge about the COVID-19 crisis and broadens the respondents’ understanding of the potential impacts of the crisis on the most vulnerable tourism and hospitality industry. This research emphasises the sustainable revival of the hospitality industry.

The coronavirus (COVID-19) pandemic has arguably exposed the failures of neoliberalism and its political agenda over the past generation. The response has seen governments resurrect neo-Keynesian policies in order to address the weaknesses in the current market system and to mitigate the worst economic downturn since the Second World War (1939–1945). This chapter contextualizes the Australian perspective and the policy responses to the economic challenges posed by COVID-19. The authors contrast that with the experience of the USA and UK with whom the country shares common institutions and culture, including a generation of neoliberal economic reforms.

By closing large sections of the economy, the Australian COVID-19 response provided extensive social welfare support and bailed out several sectors and industries. Previously unacceptable and unthinkable levels of budget deficit and country debt were incurred. This systemic state intervention into the economy raises the question of whether the pandemic signals the end of the neoliberal era and its ramifications – or whether this neo-Keynesian pause was a kneejerk response to ensure and protect its legacy.