DEVELOPMENT OF NATIONAL ECONOMIES IN THE CONDITIONS OF PANDEMICS

##plugins.themes.bootstrap3.article.main##

##plugins.themes.bootstrap3.article.sidebar##

  Tetiana Melnyk

  Nataliia Mazaraki

  Kateryna Pugachevska

Abstract

Among many global problems of mankind, a special place is occupied by the phenomenon of pandemics. A pandemic has been one of the constant companions of human existence since ancient times. This is evidenced by both the texts of religious and mythological orientation, and recorded events in historical life. Pandemic is always an emergency that threatens the very existence of humanity. Various circumstances are heard as the causes of pandemics: sacred (violation of divine laws), domestic (unsanitary conditions of existence), civilizational (technocratic human intervention in the environment), political, economic, etc. The purpose of this article is to study the effects of pandemics that have occurred in different historical periods and their impact on the development of society and the economy. Based on this goal, the objectives of the article are to study the world economy in a pandemic COVID-19; to analyse the trends and forecasts of its further development, including Ukrainian economy; to offer an assessment of the main opportunities and risks of the functioning of Ukraine’s economy in quarantine. This article reveals the theoretical and practical principles of the pandemics impact on global economic development. The result of the article is the statistical analysis of pandemic impact on the world economy, which leads to the rupture of economic chains and slowing down the economic and social development for several months or even up to one year. As a conclusion it may be noted, that since periodic pandemics have become an integral part of human life, no country in the world is safe from their direct or indirect impact and, as a result, countries must be economically ready to provide strict measures according to the formula “combating the epidemic – minimizing the negative effects in the short, medium- and long-term periods”. Practical implications. The main theoretical propositions, the authors’ conclusions presented in the article, are supposed to form a methodological basis in substantiating the priorities of the state support of business in conditions of pandemic and quarantine restrictions. Value/originality. The proposed results can be used for modeling and forecasting the impact of quarantine restrictions on the economic development of countries.

How to Cite

Melnyk, T., Mazaraki, N., & Pugachevska, K. (2021). DEVELOPMENT OF NATIONAL ECONOMIES IN THE CONDITIONS OF PANDEMICS. Baltic Journal of Economic Studies, 7(1), 69-76. https://doi.org/10.30525/2256-0742/2021-7-1-69-76
Article views: 32 | PDF Downloads: 21

##plugins.themes.bootstrap3.article.details##

Keywords

global economy, pandemic, COVID-19, global economy development, national economy, society

References

Auzan, A. A. (2020). The economy under the pandemic and afterwards, Population and Economics, 4(2), 4–12. doi: https://doi.org/10.3897/popecon.4.e53403

International Air Transport Association (2020). Retrieved 24 October, 2020 from https://www.iata.org/en/publications/economics/

Chamber of Commerce and Industry of Ukraine (2020). Retrieved 24 October, 2020 from https://ucci.org.ua/press-center/ucci-news/diznaitesia-bilshe-pro-zmini-v-torgovelnii-polititsi-inozemnikh-krayin-u-zviazku-iz-covid-19

Cherkasskii, B. L. (2008). Globalnaia epidemiologiia [Global epidemiology]. Moscow: Praktycheskaia medytsyna. (in Russian)

Donthu, N., & Gustafsson, A. (2020). Effects of COVID-19 on business and research, Journal of Business Research, 117, 284–289. doi: https://doi.org/10.1016/j.jbusres.2020.06.008

Braudel, F. (1980). Civilization and Capitalism, 15th-18th Century. Reed Business Information, Inc.

Diamond, J. (1997). Guns, Germs and Steel. Jonathan Cape.

Kreston (2020). COVID-19 and the world economy: can’t it be saved? Retrieved 15 September, 2020 from: https://kreston-gcg.com/en/covid-19-ta-svitova-ekonomika-vryatuvati-nemozhlivo-likviduvati/

Lukanova, V. V. (2019). Pandemic as an antisystem: analysis of constitutive aspects. Retrieved 24 October, 2020 from: https://journals.indexcopernicus.com/api/file/viewByFileId/833725.pdf

Shah, S. (2016). Pandemic. St. Martin’s Press, Sarah Crichton Books/Farrar, Straus & Giroux, New York, NY, USA.

Tkalenko, S., Melnyk, T., & Kudyrko, L. (2020). Macroeconomic factors influencing the development of Ukraine’s foreign trade. Baltic Journal of Economic Studies, 6(3), 143–155. doi: https://doi.org/10.30525/2256-0742/2020-6-3-143-155

World Data Center for Geoinformatics and Sustainable Development (2020). Retrieved 15 August, 2020 from http://wdc.org.ua/uk/node/190016

Cabinet of Ministers of Ukraine (2020). Retrieved 24 October, 2020 from https://www.kmu.gov.ua/news/programa-stimulyuvannya-ekonomiki-dlya-podolannya-naslidkiv-covid-19-ekonomichne-vidnovlennya

International Labor Organization (2020). Retrieved 24 September, 2020 from https://www.ilo.org/global/statistics-and-databases/lang--en/index.htm

OECD statistics (2020). Retrieved 24 September, 2020 from https://www.statista.com/studies-and-reports/regions-and-countries

World Travel and Tourism Council (2020). Retrieved 24 September, 2020 from https://wttc.org/Research/Economic-Impact/Recovery-Scenarios-2020-Economic-Impact-from-COVID-19

McKinsey & Company (2020). Retrieved 29 September, 2020 from https://www.mckinsey.com/industries/travel-logistics-and-transport-infrastructure/our-insights

Counterpoint (2020). Retrieved 27 October, 2020 from: https://www.counterpointresearch.com/data/State Statistics

Service of Ukraine (2020). Retrieved 29 October, 2020 from http://www.ukrstat.gov.ua/

Union of Ukrainian Entrepreneurs (2020). Retrieved 29 October, 2020 from https://sup.org.ua/uk

The World Bank statistics (2020). Retrieved 30 October, 2020 from https://www.worldbank.org