This editorial reviews the potential short- and long-term macroeconomic impacts of the Covid-19 pandemic according to the data announced in Jordan, Provides evidence of certain of these impacts in the coming days, and the economic repercussions. Since Jordanian economic growth was slow before the Covid-19 outbreaks, the economic contraction could be serious, and the government intervention would necessitate a cautious weighing of priorities and goals. Given that resources are limited, strategies that better handle the short-run crisis while yielding substantial long-run gains should be seriously considered. The economic effects of the COVID-19 have been highlighted in this study and emphasized policy options to reduce its effects. The study comes to the conclusion that monetary, macroprudential, and fiscal policy can help mitigate the effects of the COVID-19.
The objective of this paper is to assess existing information on the COVID-19 pandemic's impact on Jordan's supply chain and countermeasures adopted by businesses to mitigate supply chain interruptions. Many effects have been felt in the supply chain industry. The study will explain how travel restrictions have reduced international trade which has also affected Jordan’s supply chain. Global business leaders may use information from this study in making necessary decisions relating to trade activities in the country. It will assess Impacts of COVID 19 in the supply chain Industry in Jordan particularly the impacts of supply chain on demand, on logistics, manufacturing, and finally on people. A series of economic implications and research options are provided based on these results.
In the past decade, the fundamental problems associated with the real gross domestic product (GDP) in Jordan are apparent since the foreign aid is highly influenced by macroeconomic shocks that have severely affected the GDP through changes in macroeconomic factors. However, this relationship has not been adequately addressed. The main purpose of this paper is to investigate the influence of foreign direct investment and aids and trade openness on economic growth in Jordan by employing time series data from 1970 to 2017. The Autoregressive Distributed Lag (ARDL) model and Bayer-Hanck Cointegration was employed to examine the relationship between the variables empirically. The findings revealed the existence of a long-run relationship among the variables. Foreign direct investment (FDI), aids, trade openness and structural breaks are positive and significantly influencing the economic growth in both short run and long run. The results recommended that higher foreign investment may increase the ability of aids to increase the economic growth. Therefore, policy makers should balance between investment friendly policies such as foreign direct investment that will be attracted into the country for sustainable economic growth.
The purpose of this paper is the validity of Okun’s Law for Jordan’s economy over the period 1990 to 2020. The relation between unemployment and economic growth was tested. It aims to analyze the impact of unemployment on economic growth and to propose recommendations for enhancing economic growth and reducing unemployment in Jordan since the Jordanian economic growth was slow before the Covid-19 outbreaks. The research employed ARDL Bound Cointegration method having validated it’s appropriateness withDickey-Fuller and Philips-Perron tests. The empirical results reveal the existence of Okun’s law in the Jordan economy, with a 1% decrease in Gross Domestic Product which is correlated with a 0.276% increase in the unemployment rate. Based on these empirical outcomes, several policy recommendations are formulated to increase the attraction of foreign direct investment (FDI)which is needed to minimize the country's high unemployment rate. Jordan's policymakers are urged to embrace both labor and growth-inducing measures.
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