Governments and Business

Research output: Chapters, Conference Papers, Creative and Literary Works (RGC: 12, 32, 41, 45)12_Chapter in an edited book (Author)peer-review

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Detail(s)

Original languageEnglish
Title of host publicationCOVID-19 IN ASIA
Subtitle of host publicationLaw and Policy Contexts
EditorsVictor V. RAMRAJ
Place of PublicationNew York
PublisherOxford University Press
Chapter25
Pages365-377
Number of pages13
ISBN (Electronic)9780197553862, 9780197553848, 9780197553855
ISBN (Print)9780197553831
Publication statusPublished - 2021

Abstract

This chapter evaluates the deleterious effect of the Covid-19 pandemic on business enterprises in Asia. In these extraordinary and unprecedented circumstances, it was not surprising that governments stepped in to forestall a collapse of markets brought about by the simple fact that ordinary life had been disrupted. Beyond liquidity and stimulus measures taken by central banks that feature in many past recessions, many Asian jurisdictions saw unprecedented provision of financial support and measures to businesses and individuals to tide them over and lessen the risk of insolvency. These measures included temporary moratoriums on financial obligations and debt recovery, relief from other contractual obligations, employment support, increases to the debt thresholds for the commencement of insolvency proceedings, and infrastructure investments. These extraordinary measures, if effective, had the potential to become part of an expanded standard playbook to deal with future economic shocks, and the chapter focuses on them with particular reference to China, Hong Kong, Malaysia, and Singapore.

Research Area(s)

  • Covid-19 pandemic, business enterprises, Asia, liquidity measures, stimulus measures, financial support, insolvency, employment support, temporary moratoriums

Bibliographic Note

Research Unit(s) information for this publication is provided by the author(s) concerned.

Citation Format(s)

Governments and Business. / Tan, Cheng-Han; Wang, Jiangyu.

COVID-19 IN ASIA: Law and Policy Contexts. ed. / Victor V. RAMRAJ. New York : Oxford University Press, 2021. p. 365-377.

Research output: Chapters, Conference Papers, Creative and Literary Works (RGC: 12, 32, 41, 45)12_Chapter in an edited book (Author)peer-review