IDEAS home Printed from https://ideas.repec.org/a/gam/jmathe/v12y2024i5p673-d1345615.html
   My bibliography  Save this article

Urban Economic Resilience and Supply Chain Dynamics: Evaluating Monetary Recovery Policies in Global Cities during the Early COVID-19 Pandemic

Author

Listed:
  • Jin Li

    (University Library, Macau University of Science and Technology, Macau 999078, China
    Faculty of Business Administration, University of Macau, Macau 999078, China)

  • Guie Fu

    (University Library, Macau University of Science and Technology, Macau 999078, China)

  • Xichen Zhao

    (University Library, Macau University of Science and Technology, Macau 999078, China)

Abstract

The COVID-19 pandemic has profoundly impacted global economies, underscoring the urgency of deriving lessons to enhance future crisis preparedness. This study explores the effects of monetary recovery policies on supply chain dynamics across key global cities during the pandemic’s initial phase, emphasising policy interactions, industry engagement, and economic resilience. Utilising principal component analysis (PCA), data envelopment analysis (DEA), and tobit regression, we present a pioneering method to unravel the complex relationship between economic policies and urban supply chains. PCA simplifies data complexity and reveals complex policy-resilience relationships, while DEA facilitates a comparative efficiency analysis. Our findings underscore the critical importance of supply chain resilience in fostering early economic recovery, indicating that cities implementing diverse, sector-specific policies achieved more notable improvements in gross domestic product (GDP). This research not only advances methodological approaches for policy evaluation but also provides valuable insights for optimising urban economic recovery strategies amidst global challenges.

Suggested Citation

  • Jin Li & Guie Fu & Xichen Zhao, 2024. "Urban Economic Resilience and Supply Chain Dynamics: Evaluating Monetary Recovery Policies in Global Cities during the Early COVID-19 Pandemic," Mathematics, MDPI, vol. 12(5), pages 1-20, February.
    • Handle: RePEc:gam:jmathe:v:12:y:2024:i:5:p:673-:d:1345615
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2227-7390/12/5/673/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2227-7390/12/5/673/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Richard Blundell & Monica Costa Dias, 2009. "Alternative Approaches to Evaluation in Empirical Microeconomics," Journal of Human Resources, University of Wisconsin Press, vol. 44(3).
    2. Yongdong Shi & Rongsheng Huang & Hanwen Cui, 2021. "Prediction and Analysis of Tourist Management Strategy Based on the SEIR Model during the COVID-19 Period," IJERPH, MDPI, vol. 18(19), pages 1-12, October.
    3. Bonadio, Barthélémy & Huo, Zhen & Levchenko, Andrei A. & Pandalai-Nayar, Nitya, 2021. "Global supply chains in the pandemic," Journal of International Economics, Elsevier, vol. 133(C).
    4. Xiaolan Fu, . "Digital transformation of global value chains and sustainable post-pandemic recovery," UNCTAD Transnational Corporations Journal, United Nations Conference on Trade and Development.
    5. Charnes, A. & Cooper, W. W. & Rhodes, E., 1978. "Measuring the efficiency of decision making units," European Journal of Operational Research, Elsevier, vol. 2(6), pages 429-444, November.
    6. Meier, Matthias & Pinto, Eugenio, 2024. "COVID-19 Supply Chain Disruptions," European Economic Review, Elsevier, vol. 162(C).
    7. Ron Martin & Peter Sunley, 2015. "On the notion of regional economic resilience: conceptualization and explanation," Journal of Economic Geography, Oxford University Press, vol. 15(1), pages 1-42.
    8. Francois Gourio, 2012. "Disaster Risk and Business Cycles," American Economic Review, American Economic Association, vol. 102(6), pages 2734-2766, October.
    9. Warwick McKibbin & David Vines, 2020. "Global macroeconomic cooperation in response to the COVID-19 pandemic: a roadmap for the G20 and the IMF," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 36(Supplemen), pages 297-337.
    10. Róbert Štefko & Jarmila Horváthová & Martina Mokrišová, 2021. "The Application of Graphic Methods and the DEA in Predicting the Risk of Bankruptcy," JRFM, MDPI, vol. 14(5), pages 1-19, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Viral V. Acharya & Zhengyang Jiang & Robert J. Richmond & Ernst-Ludwig von Thadden, 2020. "Divided We Fall: International Health and Trade Coordination During a Pandemic," NBER Working Papers 28176, National Bureau of Economic Research, Inc.
    2. Serdar Kabaca & Kerem Tuzcuoglu, 2023. "Supply Drivers of US Inflation Since the COVID-19 Pandemic," Staff Working Papers 23-19, Bank of Canada.
    3. Miguel Cardoso & Brandon Malloy, 2021. "Impact of the First Wave of the COVID-19 Pandemic on Trade between Canada and the United States," Canadian Public Policy, University of Toronto Press, vol. 47(4), pages 554-572, December.
    4. Kai A. Konrad & Marcel Thum, 2021. "International Policy Externalities in the Pandemic," ifo Dresden berichtet, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 28(06), pages 07-11, December.
    5. Raphael Lafrogne-Joussier & Julien Martin & Isabelle Mejean, 2023. "Supply Shocks in Supply Chains: Evidence from the Early Lockdown in China," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(1), pages 170-215, March.
    6. Michael Hellwig & Dominik Schober & Luis Cabral, 2018. "Incentive Regulation: Evidence From German Electricity Networks," Working Papers 18-03, New York University, Leonard N. Stern School of Business, Department of Economics.
    7. Peter Eppinger & Gabriel J. Felbermayr & Oliver Krebs & Bohdan Kukharskyy, 2021. "Decoupling Global Value Chains," CESifo Working Paper Series 9079, CESifo.
    8. Cajal-Grossi, Julia & Del Prete, Davide & Macchiavello, Rocco, 2023. "Supply chain disruptions and sourcing strategies," International Journal of Industrial Organization, Elsevier, vol. 90(C).
    9. de Lucio, Juan & Mínguez, Raúl & Minondo, Asier & Requena, Francisco, 2022. "Impact of Covid-19 containment measures on trade," International Review of Economics & Finance, Elsevier, vol. 80(C), pages 766-778.
    10. Simola, Heli, 2021. "Trade collapse during the covid-19 crisis and the role of demand composition," BOFIT Discussion Papers 12/2021, Bank of Finland Institute for Emerging Economies (BOFIT).
    11. Antoine Berthou & Sebastian Stumpner, 2022. "Trade Under Lockdown," Working papers 867, Banque de France.
    12. Hellwig, Michael & Schober, Dominik & Cabral, Luís, 2020. "Low-powered vs high-powered incentives: Evidence from German electricity networks," International Journal of Industrial Organization, Elsevier, vol. 73(C).
    13. Pedro Sánchez-Zamora & Rosa Gallardo-Cobos, 2019. "Diversity, Disparity and Territorial Resilience in the Context of the Economic Crisis: An Analysis of Rural Areas in Southern Spain," Sustainability, MDPI, vol. 11(6), pages 1-21, March.
    14. Khezrimotlagh, Dariush & Kaffash, Sepideh & Zhu, Joe, 2022. "U.S. airline mergers’ performance and productivity change," Journal of Air Transport Management, Elsevier, vol. 102(C).
    15. Croce, M.M. & Nguyen, Thien T. & Raymond, S. & Schmid, L., 2019. "Government debt and the returns to innovation," Journal of Financial Economics, Elsevier, vol. 132(3), pages 205-225.
    16. Christian Growitsch & Tooraj Jamasb & Christine Müller & Matthias Wissner, 2016. "Social Cost Efficient Service Quality: Integrating Customer Valuation in Incentive Regulation—Evidence from the Case of Norway," International Series in Operations Research & Management Science, in: Joe Zhu (ed.), Data Envelopment Analysis, chapter 0, pages 71-91, Springer.
    17. Franz R. Hahn, 2007. "Determinants of Bank Efficiency in Europe. Assessing Bank Performance Across Markets," WIFO Studies, WIFO, number 31499, April.
    18. Alperovych, Yan & Hübner, Georges & Lobet, Fabrice, 2015. "How does governmental versus private venture capital backing affect a firm's efficiency? Evidence from Belgium," Journal of Business Venturing, Elsevier, vol. 30(4), pages 508-525.
    19. Marina Capparucci & Emanuela Ghignoni & Alina Verashchagina & Natalia Vorozhbit, 2015. "The Drivers of Innovation in the Italian Manufacturing Sector," Economia & lavoro, Carocci editore, issue 3, pages 111-128.
    20. Wang, Zhao-Hua & Zeng, Hua-Lin & Wei, Yi-Ming & Zhang, Yi-Xiang, 2012. "Regional total factor energy efficiency: An empirical analysis of industrial sector in China," Applied Energy, Elsevier, vol. 97(C), pages 115-123.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jmathe:v:12:y:2024:i:5:p:673-:d:1345615. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.