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YSI @ Workshop on Southeast Asia Economic Development in the Post-Pandemic Era

YSI @ Economic Development Workshop

Start time:

September 12, 2024 @ 8:00 am - September 13, 2024 @ 5:00 pm

SMT

Location:

Universiti Malaya, Kuala Lumpur, 50603

Type:

Workshop

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Speakers

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Thirunaukarasu Subramaniam

Faculty of Arts and Social Sciences, Universiti Malaya

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Evelyn Devadason

Faculty of Business and Economics, Universiti Malaya

Local Partners

Description

The COVID-19 pandemic has profoundly disrupted global economies, including significant economic contractions across Southeast Asian countries. The consequences are vast, particularly evident in nations heavily reliant on tourism such as Thailand, Vietnam, and Cambodia, which have suffered due to travel restrictions and border closures. Slowdowns in production and delays in the delivery of goods and services have affected all nations in the region, especially manufacturing countries like Malaysia and Indonesia. These challenges have led to a surge in unemployment rates, contributing to narrow increases in poverty and inequality as many factory workers faced job losses and income insecurity. Small and medium-sized enterprises (SMEs) have been particularly impacted, grappling with reduced demand, supply chain disruptions, and limited access to finance.

In response, governments have implemented large-scale fiscal stimulus packages to mitigate economic fallout, albeit raising concerns about long-term fiscal sustainability due to increased public debt levels. Meanwhile, central banks have employed monetary policy measures such as interest rate cuts and liquidity injections to support liquidity and credit flow in the economy. Additionally, heightened healthcare spending has bolstered pandemic response efforts, including the expansion of testing and contact tracing capacity and the procurement of vaccines. Despite these efforts, uncertainties persist surrounding the trajectory of the pandemic and economic development, necessitating ongoing adaptation of policies and strategies to foster sustainable growth in the post-pandemic era.

Aligned with these concerns, which aim to comprehensively assess the region’s development after COVID-19 and devise innovative solutions for recovery

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