A87- Comment transformer la crise pandémique en opportunité pour bâtir un monde meilleur

It is a question of treating within the framework of this workshop the various structural dimensions of a crisis, whether in terms of the regime of accumulation or the conditions necessary to make the mode of production evolve in the direction of the objectives of a sustainable development. This also requires returning to the importance of macroeconomic policies and discussing the relevance of post-Keynesian theory to rehabilitate fiscal policy as a key instrument of economic policy. It is also useful to carry out a comparative analysis between African and Arab countries regarding the budgetary and monetary policies to be implemented in order to support economic activity in the recovery period, to ensure the financing of productive enterprises and to expand social safety nets for vulnerable populations.
The covid-19 pandemic crisis has also shown the risks linked to the dynamics of public debt and the importance of the question of the sustainability of the debt of emerging or middle-income countries. In fact, these countries whose financing needs imposed by the extent of the crisis are significant and for which the responses of the IMF and the World Bank have proven to be insufficient.
At the sectoral level, the covid-19 pandemic has highlighted the role of the health sector in containing the pandemic scourge and preserving productive human capital. In this regard, there is reason to wonder whether this crisis has not also been an opportunity to become aware of the need to attach particular importance to the resilience of the health sector through better regulation of the sector and by rethinking the regulation of the market for drugs and vaccines at the global level.

There is reason to question the role of central banks in the era of covid19 and to assess the effectiveness of the exceptional measures taken by central banks to preserve our economies, ensuring that liquidity reaches households and businesses. The research questions that deserve to be analyzed consist in determining the degree of independence de jure or de facto of the central bank to be implemented so that the monetary authorities can freely assume their mission of financial stability and reduce the inflationary slippages which would ultimately be borne by the taxpayer.
In addition to these macroeconomic issues, other aspects will also be addressed, such as the economic impacts of the acceleration in the use of information and communication technologies. Firstly, in the transformations of the forms of transactions of individuals/households increasingly based on e-commerce. Indeed, according to the latest data communicated by the Ministry of Trade, the number of national transactions carried out on online platforms increased by 71%, exceeding the 6.3 million transactions carried out throughout the year 2020. In terms of value, the volume of national transactions is skyrocketing to stand at more than 305 million dinars, thus showing an increase of nearly 45% compared to the year 2019. In addition, we are simultaneously witnessing an almost obligatory accentuation of distance working or new forms of work (hybrid models and digital nomadism) and above all, during the covid19 period of distance education. Experiences that absolutely must be studied/evaluated to benefit from them in the future.
Moreover, the other undeniable fact today is that the Covid-19 pandemic has highlighted multiple facets of dysfunctions in all sectors and professions. Both nationally and internationally, the shutdown of supply chains and the limitation of mobility have accelerated the popularization of new models of cooperation, exchange and work organization towards profound transformations.
Faced with the exclusion observed during this period (region, border, confinement, distancing), digitalization of resources and procedures has been able to provide solutions and new forms of inclusion, thus forging one of the landscapes of tomorrow's society. Distance work and education, e-services and e-commerce have created new forms of cooperation and wealth creation, highlighting a base of values ​​of inclusion in ordinary working environments but also stimulating exchanges and new forms of cooperation facilitated by digitized and accessible means.

Responsable : Hatem Salah, ESCT, Université de la Manouba

The Covid-19 epidemic has led to profound sectoral transformations of economic and social systems around the world, opening a new cycle of emergence of new sectors to the detriment of others. The sectors with social interaction at the heart of their activity have been the hardest hit and will be the first to require a more or less complete reconfiguration.

Covid-19 has indeed had a strong impact, for example, on the tourism and air transport sectors. Its effects will last given the obstacles that will continue to exist such as travel restrictions, the slow containment of the virus, low traveler confidence and the uncertain economic environment. A return to the pre-pandemic situation is unimaginable in the near future and mass tourism as we have known it is over. On the contrary, other sectors are gaining ground in all economies. These are the sectors of the "economy of life", as called by Jacques Attali (2020). It is a new economy that marks the acceleration of the three major post-pandemic transitions (the digital, energy and ecological transitions). The work will emphasize the need for Tunisia to integrate as soon as possible into this new economy, at the risk of finding itself in a few years on the margins of the new global value chains.

The COVID-19 pandemic has had critical implications for the global financial industry. Following strong market movements and dramatic shocks, combined with high uncertainty and extreme volatility, have probably induced investors to radically change their perception of the stock market and/or their investment behavior.
Thus, behavioral finance makes it possible at best to explain this phenomenon and to understand the real functioning of financial markets. According to Chena et al (2017), the share price reflects investors' expectations, therefore, asset prices will be determined, mainly by: investors' expectations, their buying and selling decisions and their fundamental expectations, in general, the behavior of investors plays an important role in the formation of stock prices. It is therefore necessary to speak of psychology, attitudes and purchasing behavior, caution or fear of investing. Consequently, we are studying the effect of the Covid-19 pandemic on the behavior of investors, behavior which can be summed up in two components: demand and supply of securities. Therefore, we think it makes sense to test the behavior of investors in the US financial market during the covid-19 pandemic. Thus, the research questions of this study are: is there evidence for the existence of speculative bubbles? What is the impact of the COVID-19 pandemic on investor behavior?

It is a question of analyzing the structuring elements of the digital transformation and of studying the commercial flows linked to the developments of e-commerce. In addition, there is reason to wonder about the recent changes in the labor market and the rapid and almost compulsory increase in remote work or new forms of work (hybrid models and digital nomadism). Finally, the other question to be addressed is to understand how the dynamics of digitalization could constitute a determinant of total factor productivity and a factor of economic growth in the post-covid19 era.

It is interesting to question the different strategies of the Central Banks of emerging countries to be implemented to solve the problems posed by public finances, to ensure financial stability and to guarantee monetary stability. Similarly, it is necessary to discuss the analytical framework of the bailout policies to be considered by central banks for the benefit of commercial banks and to question the economic consequences of these policies, whether in terms of distortions to competition and excessive accumulation of risk in the markets. Finally, the other question that deserves to be examined, in the context of this paper, relates to the potential effects of monetary policies on the distribution of wealth and its contribution to the increase in inequalities.