Do crises offer opportunities? An evaluation of manufacturing industry in Şanlıurfa (Turkey) under the conditions of the COVID-19 pandemic (original) (raw)

The Impact of the Covid-19 Pandemic on the Manufacturing Industry

2020

In the current condition where the situation in all parts of the world is facing a Covid-19 pandemic which is increasingly increasing the number of countries that have been infected with the Covid-19 virus as we know that vaccines have not been found to ward off the virus. This will certainly have an impact on global economic conditions that can kill all business businesses, many superpowers such as the United States and European Union countries have very sophisticated technology and qualified health workers who have not been able to solve the problem of covid-19 virus infection so Many developed countries have to experience economic hardship due to the cessation of all industrial, tourism, trade, mining and banking businesses which resulted in the termination of employment everywhere. The increasing level of poverty thus increasing the level of crime. The purpose of this study is to see the extent of the economic impact of the Covid-19 pandemic on the global economy which has an impact on the manufacturing industry. Analysis using qualitative methods by conducting virtual interviews with several industrial companies engaged in the manufacturing industry to find out the extent of the impact on business, workplace welfare and work enthusiasm supported by previous studies on matters that affect the business of manufacturing business. From this analysis we can conclude that the manufacturing industry business is strongly influenced by the global economy.

COVID-19 Salgini Ve Türki̇ye İmalat Sanayi̇ Fi̇rmalari

Verimlilik dergisi, 2022

Globally taken similar measures to prevent the spread of the COVID-19 pandemic caused disruptions in the supply and demand schedules and increase in uncertainty. The shock of this pandemic has forced many firms to take new actions and make new business decisions. The aim of this study is to examine the heterogeneity of the production, employment and policy decisions taken by the firms against the pandemic across productivity distribution. Methdology: For this purpose, pandemic specific survey responses of a representative panel of 1207 Turkish manufacturing firms matched with pre-pandemic tendency survey responses and administrative data and cross sectional models are employed. Findings: Estimation results show that productive firms of the Turkish manufacturing sector have taken firmer stance against the devastating economic impact of the pandemic at the initial wave. They are more likely to continue the production and less likely to reduce the employment and to benefit from government supports. Originality: This study uses unique firm-level dataset that enable to investigate the effects of the pandemic and mitigation policies on firms using representative survey data for Turkish manufacturing sector. This will contribute to the existing narrow empirical literature on the impact of COVID-19 on manufacturing firms by providing new evidence on a large developing country, Türkiye, based on representative firm-level dataset.

The Impacts of the COVID-19 Pandemic on Sectoral Performance: A Review on the Bist Sectors in Turkey

Finans Ekonomi ve Sosyal Araştırmalar Dergisi

This study aims to evaluate the impact of the COVID-19 pandemic on sectoral performance and reveal how the pandemic has influenced certain sectors. In this study, 5-year (2016-2020) financial data of a total of 250 companies operating under 22 sub-sectors in BIST were analyzed using the ratio analysis method. The study results demonstrated that some sectors were adversely affected by the pandemic, whereas others were positively affected. The adverse impacts of the pandemic were observed in 10 sectors, including the sectors of Construction and Public Works, Restaurants and Hotels, Transportation and Storage, Sports Activities, Amusement and Recreation Activities. On the other hand, the positive impacts of the pandemic were identified in 12 sectors, including the sectors of Crop and Animal Production, Hunting and Related Service Activities, Food, Beverage and Tobacco, Wood Products Including Furniture, Chemicals, Petroleum, Rubber and Plastic Products, Wholesale and Retail Trade, and ...

IMPACT OF COVID-19 AS A PANDEMIC ON VARIOUS INDUSTRIES: A CONCEPTUAL PAPER

Grassroots, 2021

Pandemics always create dreadful effects not only on human life but also drastically influence businesses and industries. Historical evidence has apparently indicated that the outbreak of Spanish flu, SARS, MERS, and Ebola viruses, all created radical impacts on businesses around the globe, leaving behind the economic structures into miseries and deprivations. Similar is the case of COVID-19 outbreak which instigated from China and dispersed all over the globe. In Pakistan, the first case was reported in March 2020 and since then the government has relentlessly tried to impose lockdown and social distancing in order to avert the harm. It has been substantiated that the public isolations and lockdowns have not only yielded negative impacts on the economy but also on different forms of business and employment. Therefore, this study is aimed to analyze potential impacts of COVID-19 on different forms of industries in Pakistan through gathering the public opinion as the source of data. The study is one of the preliminary studies therefore it is based on descriptive design in order to show perceived impact of outbreak of virus. Results indicated that the pandemic is harmful and affecting most of the business in negative manner however there are some businesses which are burgeoning on opportunities emerged from the pandemic and attaining growth due to the spread of the virus.

COVID-19 and its Impact on Financial Performance of Indian Industries

Zenodo (CERN European Organization for Nuclear Research), 2022

The introduction of the corona Virus has flashed an enormous impact on the full world economy. This has impacted a large number of people and because of this, the whole industry has decreased to a fall. As per WHO it was declared a Pandemic at the beginning of March 2020. The half-portion of the year 2019-20 has ended with six years' lowest process rate of 4.7 percent. However initially it was expected that the industry will boom up in the next half-year, but the COVID cases were increasing at such a great pace that the increase in Economy and Expectation has become difficult and it was found to be impossible to gain it back. Besides the current challenges, the new challenges as introduced by Covid have made a big economic disruption and imbalance in the demand and supply equation, which contains a good possibility to off-road the economic vehicle. The covid was having an unbelievable impact on the economy of the whole world. The pandemic has driven the world toward adapting to the present circumstances no matter the business, sector, or industry. The coronavirus epidemic (COVID19) has affected the world economy and business industries. The study has been undertaken with the object of assessing the impact of Corona cases on various sectors including Business and Business Industries, its growth, and sustainability. Global sectors and industries are attempting to anchor themselves amidst the pandemic. The present paper concentrates more on the sectors which are broadly impacted because of this and strategies and responses that have been taken up by various countries to maintain their economical position good enough. This study concludes that the vital role of knowledge Technology and digitization supports the economies in their fight against the pandemic and helps them sustain themselves amid crises.

The early impact of the Covid-19 pandemic on the global and Turkish economy

TURKISH JOURNAL OF MEDICAL SCIENCES

Background/aim: Individuals infected by the Covid-19 potentially are at risk of health and economic well-being. Today, the Covid-19 is a global issue, and the world economy can be interpreted as almost at the standstill. In this context, this study aims to discuss the potential first reactions of short and long term global economic impacts of the pandemic through sectors by assessing its costs according to the data announced for both the world and Turkey. In addition, this study tries to put forth possible economic and political scenarios for the post-pandemic world. Materials and methods: This is a review article that summarizes the current reports and discussions about the economic consequences of this historical event, and tries to make some inferences considering them. Results: This pandemic has severe adverse effects on the employees, customers, supply chains and financial markets, in brief, most probably it will cause a global economic recession. Nevertheless, due to the uncertainty of the end of this pandemic, both the length and scale of this contraction are not predictable. Conclusion: It takes a while for the world economy to recover from the contraction. It seems that this pandemic will lead to a permanent shift in the world and its politics, especially in health, security, trade, employment, agriculture, manufacturing goods production and science policies. Since this new world might provide great opportunities for some countries that did not dominate world production before, governments should develop new strategies to adjust the new world order without much delay.

The Impact of Pandemic on GDP Growth Rate, FDI and Export: A Case Study of Turkey

Academic Journal of Interdisciplinary Studies

It has been two years since the outbreak of Covid 19, and we still live with the pandemic. No one knows when the pandemic will finish and how long it will take until all is back to normal and the global economy fully recovers from the pandemic. Undoubtedly, the Corona crisis has had devastating effects on the global economy. The global GDP decreased by 3.5%, the global FDIs were below $ 1 trillion for the first time in the last 20 years in 2020, falling 35% compared to 2019, and the global trade dropped 5.3% at the same time. The main objective of this paper is to discover the impact of a pandemic on the Turkish economy, or more precisely, on the Turkish GDP growth rate, FDI inflows, and export. To get the most reliable results, a multiple regression analysis has been conducted, using the contemporary economic software EViews 12. World Pandemic Uncertainty Index (WPUI) that was introduced by the International Monetary Fund (IMF) in 2020 was used as a measure of the uncertainty cause...

Success Deteriminan of the Manufacturing Industry Sector to Survive During the Pandemic in Indonesia

CERN European Organization for Nuclear Research - Zenodo, 2022

The island of Java is the area with the largest processing industry development in Indonesia. Supported by a large number of industries and the number of workers, industrialization in Java is growing. In the face of an increasingly rapid competition pattern, every industry player must always innovate by increasing the company's capabilities, in this case, it is associated with capital capacity through investments, both Domestic Investment (PMDN) and Foreign Investment (PMA) as well as the capacity of the workforce to generate income. Output in the manufacturing sector. The theory used in this study is a theory related to the factors of production, namely the Cobb-Douglas production function. This study uses quantitative methods using secondary data. The panel data regression technique was used in analyzing the data. The purpose of this study was to determine the effect of domestic investment, foreign investment, and labor on the output of the processing industry using quantitative methods using data from provinces on Java Island from 2015-2020.

The effects of the 2008 global economic crisis on industrial companies in Turkey

AFRICAN JOURNAL OF BUSINESS MANAGEMENT, 2012

As the reoccurrence of crisis results in the repeated destructions and renewal problems in economic, political and social structures of life, making accurate decisions on time has become more difficult. These crises have relegated Turkey to the class of learning economies and have also taught her on how to manage these crises. In this study, lessons that can be learnt from these crises, effects of these crises on Turkey's business establishments and the opinions of the businessmen about the crises are analyzed. In the result of the study, experiences of postponement of order, financial damages to most businesses, the lack of will to have new partners, and the desire to get rid of the crises by themselves will be stated. Not all businesses are able to achieve the desire to transform crises into new opportunities and make new investments. The fact that most business establishments do not have plans to sustain crises during their outbreaks results in severe damages to this businesses.

The Economic and Financial Opportunities for Turkey in the Post-pandemic Period

Reflections on the Pandemic in the Future of the World, 2020

COVID-19 pandemic causes radical changes all over the world. The economical, financial and commercial change and transformation caused by the pandemic will continue in the post-pandemic period. These changes and transformations include risks and threats for countries, as well as alternatives and opportunities according to the characteristics of each country. This situation has given new opportunities for growth and development to developing countries like Turkey in the post-pandemic period. Turkey has been in the efforts of catching its potential in economic and financial aspects for a long time. But the COVID-19 global outbreak brought a new era all over the world. This era has new challenges for all countries. Turkey has to face this challenge and should produce optimal solutions. In this study, the economic and financial opportunities in front of Turkey in the aftermath of the global epidemic will be discussed as general characteristics. There will be recommendations for economic policies to be followed in the new period for Turkey.