the Seventh International Conference on Economics
April 9-11, 2021
Unpacking the Economic Impacts of COVID-19
Turkish Economic Association (TEA) is organizing its 7th International Conference (ICE-TEA Conference) on April 9-11, 2021. The main topics will focus on all economic research fields related to a year-long in-depth assessment of the economic and financial impact of the COVID-19 pandemic. The conference program includes plenary sessions, panels, and presentations of contributed papers. Although the main theme of this year's conference is the COVID-19 pandemic, the conference is open to all line of theoretical and empirical research in economics. The conference aims at bringing together scholars from all over the World for exchange of ideas, discussion of recent results within theoretical and applied research, and creating a research network for future joint collaborations.
Nearly, we are about the close a catastrophic year-end under the threat of a deadly and super contagious virus with no positive outlook ahead. The second wave of infections is sweeping across Europe, and the crisis continues to escalate in the US, which is enduring its third spike in cases and it is not even winter yet. Much more information and data available now to researchers and analysts for detailed assessments of the pandemic’s economic impacts as well as the effectiveness of decision-makers’ policy responses deeply, both at macro and micro levels. Covid-19 brought the health systems in the world to its knees in a matter of weeks, triggering the most severe economic crisis since the Great Depression. When countries shuttered their shops, closed their markets, and cordoned off places of gathering to help ward off the coronavirus, they did so out of immediate concern for their citizens’ health and wellbeing. Meanwhile, the COVID-19 pandemic has radically changed the global economy’s prospects for the short, medium, and potentially long-term. In the short-term, as governments throughout the world introduce stringent measures limiting physical mobility and social activity to mitigate the spread of the virus and avert a health crisis, economic activity has seriously contracted. It is leading to an unprecedented decline in global GDP. Longer-term, beyond 2021, the outlook for the global economy is highly uncertain. The global economic activity took an unprecedented fall in the second quarter of this year when about 85 percent of the world economy was in lockdown for several weeks. Therefore, as these measures endure, the virus is no longer the sole threat to citizens’ health and wellbeing. People worldwide face mounting threats to their wellbeing compounded by growing unemployment, lockdown in vulnerable living conditions. In an unprecedented effort, policymakers reacted rapidly and massively to buffer the initial blow to incomes and jobs. The countries worldwide, the US and EU, are the first among them, unveiled historic and extraordinary packages for the recovery, providing around $12 trillion in fiscal support to households and firms. These unique monetary policy actions have maintained credit flow, helping millions of firms stay in business. Direct grants, selective tax advantages, public guarantees, or public loans granted to companies that face difficulties because of the pandemic are examples of recovery packages. Besides, banks and other financial institutions have a crucial role in dealing with the outbreak’s effects by maintaining credit flow to the economy.
Emerging markets and low-income and fragile states continue to face a more risky situation. They have weaker health systems. They are highly exposed to the most affected sectors, such as tourism and commodity exports. And they are highly dependent on external financing. Abundant liquidity and low-interest rates helped many emerging markets to regain access to borrowing. Unfortunately, those countries are not in a favorable climate for external funding.
The low-income countries entered this crisis with already high debt levels, which has only become more massive. If they are to fight the crisis and maintain vital policy support, if they are to prevent the reversal of development gains made over decades, they will need more help and fast. That means access to more grants, concessional credit, and debt relief, combined with better debt management and transparency. In some cases, global coordination to restructure sovereign debt will be necessary, with public and private creditors’ full participation
On the other hand, the pandemic has laid bare severe and systemic inequalities both within and between countries and communities. More broadly, it has underscored the world’s fragilities not just in the face of another health emergency but also in our faltering response to the climate crisis, large disparities in income distribution, lawlessness in cyberspace, and the risks of nuclear proliferation. People everywhere are losing trust in political establishments and institutions.
This gap in response capacity is one reason why we see differentiated outcomes. Another reason is the effectiveness of measures to contain the pandemic and restart economic activities. Therefore, fundamental reforms are needed, across the world, to build a more resilient economy greener, smarter, more inclusive, and dynamic. That means we need to direct the massive investments required for a strong and sustainable recovery.
An abstract of not less/more than 150/250 words should be submitted online through the website. ICE-TEA2021 conference is open to both English and Turkish presentations. The authors submitting Turkish abstracts should also submit English version of their abstract. Abstracts should include 2-3 JEL codes and keywords of the research. Although the main theme of the conference is Covid-19 pandemic, papers in the fields of economics, finance, labour and entrepreneurship will be considered. Authors will receive a notification by e-mail about acceptance/rejection of their submission by March 15, 2021. Authors can not submit more than 2 papers. Please submit your abstract by following the link below:
Please send your abstract to email@example.com if you are having a problem in submitting online.
All paper presenting authors must register to ICE-TEA2021 Conference. The deadline for registration is March 01, 2021. The registration fee is EURO50 (100TL for Turkish citizens). The registration fee for graduate students is EURO25 (50TL for Turkish citizens).The details about how to register to the conference will be available by February 01, 2021.
Turkish Economic Association will give a best paper award of EURO300 (3.000TL) to the author of best paper presented at the conference. To be eligible for the award;• The applicant must be less than 40 years-old at the time of conference. • A full paper must be submitted before January 29, 2021. To apply for the best paper award, please submit your full paper written in either Turkish or English to firstname.lastname@example.org with a subject "IceTea2021 Award Application". Good luck, Turkish Economic Association
Paper presenting authors at the ICE-TEA2021 Conference have the opportunity to publish their papers in the following journals:
The authors willing to publish their work in the journals above must submit revised version of their papers after ICE-TEA2021 conference. Note that, the journals will be under no commitment to publish any article. However, they do promise an expedited refereeing process. The deadline to submit your manuscript is May 01, 2021. The authors should follow regular submission rules of the journal that can be found on the Journal’s web page.