IDEAS home Printed from https://ideas.repec.org/a/spr/minecn/v36y2023i3d10.1007_s13563-023-00369-z.html
   My bibliography  Save this article

The impact of COVID-19 for the Ecuadorian mining industry in 2020: risks and opportunities

Author

Listed:
  • Daniela Paz-Barzola

    (Facultad de Ingeniería en Ciencias de la Tierra)

  • Daniel Elizalde-Pardo

    (Facultad de Ingeniería en Ciencias de la Tierra)

  • Paola Romero-Crespo

    (Facultad de Ingeniería en Ciencias de la Tierra)

  • Kenny Escobar-Segovia

    (Facultad de Ingeniería en Ciencias de la Tierra)

  • Samantha Jiménez-Oyola

    (Facultad de Ingeniería en Ciencias de la Tierra)

  • Daniel Garcés-León

    (Facultad de Ingeniería en Ciencias de la Tierra)

Abstract

On 11 March 2020, COVID-19, which started in Wuhan (China), was declared a pandemic. Since then, casualties have been increasing and have not ceased. This study aimed to evaluate the impact of COVID-19 on the Ecuadorian mining industry and to identify the capacities and weaknesses caused by the sanitary crisis. For this purpose, the study was structured in four stages: (a) bibliographic review of organizations at the international level; (b) collection of local data (surveys and interviews); (c) multi-criteria analysis, and (d) selection of social and economic indicators that can be replicated in Ecuador’s mining sector. International data indicated notable progress in the social, health, and safety areas but less in the labor-economic aspect. Surveys and interviews showed the different impacts of COVID-19 in Ecuador’s mining sector, and multi-criteria analysis along with social and economic indicators served as a reference for recommendations to improve the weaknesses detected and reinforcing the strengths of the sector. The Ecuadorian scenario is different from the one abroad; companies presented more social and economic information and less about health and safety than international companies.

Suggested Citation

  • Daniela Paz-Barzola & Daniel Elizalde-Pardo & Paola Romero-Crespo & Kenny Escobar-Segovia & Samantha Jiménez-Oyola & Daniel Garcés-León, 2023. "The impact of COVID-19 for the Ecuadorian mining industry in 2020: risks and opportunities," Mineral Economics, Springer;Raw Materials Group (RMG);Luleå University of Technology, vol. 36(3), pages 499-507, September.
  • Handle: RePEc:spr:minecn:v:36:y:2023:i:3:d:10.1007_s13563-023-00369-z
    DOI: 10.1007/s13563-023-00369-z
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s13563-023-00369-z
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.

    File URL: https://libkey.io/10.1007/s13563-023-00369-z?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Andrzej Gałaś & Alicja Kot-Niewiadomska & Hubert Czerw & Vladimir Simić & Michael Tost & Linda Wårell & Slávka Gałaś, 2021. "Impact of Covid-19 on the Mining Sector and Raw Materials Security in Selected European Countries," Resources, MDPI, vol. 10(5), pages 1-23, April.
    2. Ali, Mohsin & Alam, Nafis & Rizvi, Syed Aun R., 2020. "Coronavirus (COVID-19) — An epidemic or pandemic for financial markets," Journal of Behavioral and Experimental Finance, Elsevier, vol. 27(C).
    3. Sharif, Arshian & Aloui, Chaker & Yarovaya, Larisa, 2020. "COVID-19 pandemic, oil prices, stock market, geopolitical risk and policy uncertainty nexus in the US economy: Fresh evidence from the wavelet-based approach," International Review of Financial Analysis, Elsevier, vol. 70(C).
    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. Brada, Josef C. & Gajewski, Paweł & Kutan, Ali M., 2021. "Economic resiliency and recovery, lessons from the financial crisis for the COVID-19 pandemic: A regional perspective from Central and Eastern Europe," International Review of Financial Analysis, Elsevier, vol. 74(C).
    2. Kumeka, Terver Theophilus & Uzoma-Nwosu, Damian Chidozie & David-Wayas, Maria Onyinye, 2022. "The effects of COVID-19 on the interrelationship among oil prices, stock prices and exchange rates in selected oil exporting economies," Resources Policy, Elsevier, vol. 77(C).
    3. Yousefi, Hamed & Najand, Mohammad, 2022. "Geographical diversification using ETFs: Multinational evidence from COVID-19 pandemic," International Review of Financial Analysis, Elsevier, vol. 83(C).
    4. Ahmad, Wasim & Kutan, Ali M. & Chahal, Rishman Jot Kaur & Kattumuri, Ruth, 2021. "COVID-19 Pandemic and firm-level dynamics in the USA, UK, Europe, and Japan," International Review of Financial Analysis, Elsevier, vol. 78(C).
    5. Le Thanh Ha, 2022. "Interlinkages of cryptocurrency and stock markets during COVID-19 pandemic by applying a TVP-VAR extended joint connected approach," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 50(3), pages 407-428, March.
    6. Dogan, Eyup & Majeed, Muhammad Tariq & Luni, Tania, 2022. "Analyzing the nexus of COVID-19 and natural resources and commodities: Evidence from time-varying causality," Resources Policy, Elsevier, vol. 77(C).
    7. Chia, Ricky Chee-Jiun & Liew, Venus Khim-Sen & Rowland, Racquel, 2020. "Daily New Covid-19 Cases, The Movement Control Order, and Malaysian Stock Market Returns," MPRA Paper 107988, University Library of Munich, Germany.
    8. Weijia Xu & Aihua Li & Lu Wei, 2022. "The Impact of COVID-19 on China’s Capital Market and Major Industry Sectors," Annals of Data Science, Springer, vol. 9(5), pages 983-1007, October.
    9. Karamti, Chiraz & Belhassine, Olfa, 2022. "COVID-19 pandemic waves and global financial markets: Evidence from wavelet coherence analysis," Finance Research Letters, Elsevier, vol. 45(C).
    10. Azzam, Islam & El-Masry, Ahmed A. & Yamani, Ehab, 2023. "Foreign exchange market efficiency during COVID-19 pandemic," International Review of Economics & Finance, Elsevier, vol. 86(C), pages 717-730.
    11. Achraf Ghorbel & Ahmed Jeribi, 2021. "Volatility spillovers and contagion between energy sector and financial assets during COVID-19 crisis period," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 11(3), pages 449-467, September.
    12. Uddin, Moshfique & Chowdhury, Anup & Anderson, Keith & Chaudhuri, Kausik, 2021. "The effect of COVID – 19 pandemic on global stock market volatility: Can economic strength help to manage the uncertainty?," Journal of Business Research, Elsevier, vol. 128(C), pages 31-44.
    13. Nana Liu & Zeshui Xu & Marinko Skare, 2021. "The research on COVID-19 and economy from 2019 to 2020: analysis from the perspective of bibliometrics," Oeconomia Copernicana, Institute of Economic Research, vol. 12(2), pages 217-268, June.
    14. Isiaka Akande Raifu & Terver Theophilus Kumeka & Alarudeen Aminu, 2021. "Reaction of stock market returns to COVID-19 pandemic and lockdown policy: evidence from Nigerian firms stock returns," Future Business Journal, Springer, vol. 7(1), pages 1-16, December.
    15. Meena Sharma & Sunita, 2022. "Examining Asymmetric Volatility Dynamism of Returns in the Infrastructure Sector in India during Covid 19: - A application of GARCH Models," Acta Universitatis Bohemiae Meridionalis, University of South Bohemia in Ceske Budejovice, Faculty of Economics, vol. 25(2), pages 126-137.
    16. Faheem Aslam & Paulo Ferreira & Khurrum Shahzad Mughal & Beenish Bashir, 2021. "Intraday Volatility Spillovers among European Financial Markets during COVID-19," IJFS, MDPI, vol. 9(1), pages 1-19, January.
    17. David, S.A. & Inácio Jr., C.M.C. & Tenreiro Machado, José A., 2021. "The recovery of global stock markets indices after impacts due to pandemics," Research in International Business and Finance, Elsevier, vol. 55(C).
    18. Boubaker, Sabri & Goodell, John W. & Kumar, Satish & Sureka, Riya, 2023. "COVID-19 and finance scholarship: A systematic and bibliometric analysis," International Review of Financial Analysis, Elsevier, vol. 85(C).
    19. Kamal, Javed Bin & Wohar, Mark, 2023. "Heterogenous responses of stock markets to covid related news and sentiments: Evidence from the 1st year of pandemic," International Economics, Elsevier, vol. 173(C), pages 68-85.
    20. Li, Cong & Lin, Shiwei & Sun, Yihan & Afshan, Sahar & Yaqoob, Tanzeela, 2022. "The asymmetric effect of oil price, news-based uncertainty, and COVID-19 pandemic on equity market," Resources Policy, Elsevier, vol. 77(C).

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    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:spr:minecn:v:36:y:2023:i:3:d:10.1007_s13563-023-00369-z. 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.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.