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Coronavirus crisis and its effects on the economy

Author

Listed:
  • Oleg V. Buklemishev

    (Lomonosov Moscow State University, Moscow, Russia)

Abstract

Unlike the global financial crisis of 2007-2009, the current economic turmoil turns to be more severe and lasting being aggravated by the epidemiological uncertainties. This fact is mainly due to the specifics of the crisis in terms of its main transmission channels (via demand, supply, finance and expectations) and its likely consequences, including technological shift, varying the direction and volume of trade flows, adjustments of structural proportions and relative prices and most of all – socio-cultural change bringing about the increased role of the state and de-globalization deepening. These post-crisis effects and the uncertain prospects of recovery are considered in the article.

Suggested Citation

  • Oleg V. Buklemishev, 2020. "Coronavirus crisis and its effects on the economy," Population and Economics, ARPHA Platform, vol. 4(2), pages 13-17, April.
    • Handle: RePEc:arh:jpopec:v:4:y:2020:i:2:p:13-17
    DOI: 10.3897/popecon.4.e53295
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    Cited by:

    1. Yao, Xuan & Xu, Zeshui & Škare, Marinko & Wang, Xindi, 2024. "Aftermath on COVID-19 technological and socioeconomic changes: A meta-analytic review," Technological Forecasting and Social Change, Elsevier, vol. 202(C).
    2. Katarina Valaskova & Pavol Durana & Peter Adamko, 2021. "Changes in Consumers’ Purchase Patterns as a Consequence of the COVID-19 Pandemic," Mathematics, MDPI, vol. 9(15), pages 1-17, July.
    3. Sabri Mekimah, 2020. "The Phases Of Covid-19 Crisis Managment By The Directorates Of Commerce In Algeria And Its Effect On The Consumer Behavior," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 26, pages 9-28, December.
    4. Cuomo, Maria Teresa & Tortora, Debora & Colosimo, Ivan & Ricciardi Celsi, Lorenzo & Genovino, Cinzia & Festa, Giuseppe & La Rocca, Michele, 2023. "Segmenting with big data analytics and Python: A quantitative exploratory analysis of household savings," Technological Forecasting and Social Change, Elsevier, vol. 191(C).
    5. Sherif, Mohamed, 2020. "The impact of Coronavirus (COVID-19) outbreak on faith-based investments: An original analysis," Journal of Behavioral and Experimental Finance, Elsevier, vol. 28(C).

    More about this item

    Keywords

    COVID-19 financial crises recovery anti-crisis policies crisis shocks hysteresis post-crisis economy deglobalization;

    JEL classification:

    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • F01 - International Economics - - General - - - Global Outlook
    • F60 - International Economics - - Economic Impacts of Globalization - - - General
    • G01 - Financial Economics - - General - - - Financial Crises
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management

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