The Role of Public Finances in the COVID-19 Crisis

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Sustainability and Finance".

Deadline for manuscript submissions: closed (20 January 2022) | Viewed by 7577

Special Issue Editors


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Guest Editor
Department of Financial Economics and Accounting, Faculty of Economics and Business, Espinardo Campus, University of Murcia, 30100 Murcia, Spain
Interests: public sector accounting; public sector management; public finances; transparency; electoral cycles; budget deviations; efficiency in public services; corruption in public sector
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Guest Editor
Department of Political Science, Social Anthropology and Public Finance, Faculty of Economics and Business, Espinardo Campus, University of Murcia, 30100 Murcia, Spain
Interests: public finances; public management; transparency; corruption; efficiency
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

This Special Issue focuses broadly on the role that different institutions can or should play in the crisis that we are currently experiencing due to Covid-19.

Throughout history, the crises the world has undergone have each been different. The crisis that we are currently suffering has aspects in common with the previous ones; however, it also has unique elements that stem from its being a global health crisis that is undoubtedly affecting society and the economy in general.

In this Special Issue we intend to compile papers related to this fact in a broad sense. Some examples of lines of interest may be the consequences that this crisis is having on the economy, on institutions, etc.; how countries are managing this crisis; how companies and/or public institutions are acting; and, in general, what is the role of public finances in this crisis. There will be room for historical analyses but also for future ones, which will analyse case studies or comparative, analytical and/or descriptive studies.

We believe that any learning derived from the current situation may be useful for public and private managers both in the immediate future and in looking ahead.

Prof. Dr. María-Dolores Guillamón
Prof. Dr. Ana-María Ríos
Guest Editors

Manuscript Submission Information

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Keywords

  • public finances
  • Covid-19
  • crisis
  • financial management
  • financial analysis
  • measures
  • public/private managers
  • institutions
  • risks

Published Papers (2 papers)

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Research

11 pages, 271 KiB  
Article
An Assessment of Post-COVID-19 EU Recovery Funds and the Distribution of Them among Member States
by María-Dolores Guillamón, Ana-María Ríos and Bernardino Benito
J. Risk Financial Manag. 2021, 14(11), 549; https://doi.org/10.3390/jrfm14110549 - 13 Nov 2021
Cited by 3 | Viewed by 2149
Abstract
The European Commission has launched numerous recovery plans for Member States to try to mitigate the damage caused by COVID-19. The most important element of this program is the Recovery and Resilience Facility (RRF), which is worth EUR 672.5 billion in loans and [...] Read more.
The European Commission has launched numerous recovery plans for Member States to try to mitigate the damage caused by COVID-19. The most important element of this program is the Recovery and Resilience Facility (RRF), which is worth EUR 672.5 billion in loans and grants. Seventy per cent of the RRF grants will be distributed between 2021 and 2022, with the remaining 30 per cent in 2023. The allocation of grants for the period 2021–2022 has been made according to different socioeconomic criteria. In this context, the aim of our work is to assess the recovery policies jointly developed by EU countries and to analyze which of the criteria adopted for the allocation of the grants included in the RRF for the period 2021–2022 has been most decisive in the distribution of these funds. In addition, we also examine whether other health indicators directly related to the pandemic can also be related to the amount of funding that EU countries will receive in this period by carrying out regression analysis. Our results show that the countries that will receive more RRF grants are those with larger populations, Gross Domestic Product (GDP) per capita and higher unemployment rates. Furthermore, it is noted that health criteria, as well as those of a socioeconomic nature, may be relevant in the allocation of recovery funds. In this way, our results can be the start of a debate in the literature on whether the socioeconomic criteria adopted in the distribution of these funds have been appropriate. or whether other criteria, such as those of a health nature, should have been taken into account. Full article
(This article belongs to the Special Issue The Role of Public Finances in the COVID-19 Crisis)
19 pages, 1037 KiB  
Article
Financial Stress and Health Considerations: A Tradeoff in the Reopening Decisions of U.S. Liberal Arts Colleges during the COVID-19 Pandemic
by Jonah Tobin, Oliver Hall, Jacob Lazris and David Zimmerman
J. Risk Financial Manag. 2021, 14(8), 382; https://doi.org/10.3390/jrfm14080382 - 17 Aug 2021
Cited by 2 | Viewed by 2959
Abstract
This paper presents empirical evidence on factors influencing choices made by members of the Annapolis Group of Liberal Arts colleges regarding whether to operate primarily in-person, primarily online or some flexible alternative during the COVID-19 pandemic of 2020. This paper examines the tradeoff [...] Read more.
This paper presents empirical evidence on factors influencing choices made by members of the Annapolis Group of Liberal Arts colleges regarding whether to operate primarily in-person, primarily online or some flexible alternative during the COVID-19 pandemic of 2020. This paper examines the tradeoff between public health risks and financial standing that school administrators faced when deciding reopening plans. Because in-person instruction at colleges and universities had large effects on COVID-19 case rates, it is critical to understand what caused these decisions. We used binary and multinomial probit models to evaluate an original data set of publicly available data as well as data from the College Crisis Initiative. Binary and multinomial choice model estimates suggest that conditional upon the prevailing level of COVID-19 in their county, financially distressed colleges were approximately 20 percentage points more likely to opt for primarily in-person operations than less financially distressed colleges. These choices highlight an important potential tradeoff between public health and financial concerns present in the higher education sector and emphasize the need for public spending to mitigate adverse health outcomes if a similar situation occurs again. Full article
(This article belongs to the Special Issue The Role of Public Finances in the COVID-19 Crisis)
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