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A Comparative Analysis of the Global Supply Chain Bottlenecks During the Covid-19 Pandemic

In: Reshaping Power Dynamics Between Sustainable Growth and Technical Disruption

Author

Listed:
  • Andrei Neacsu

    (Bucharest University of Economic Studies)

  • Alexandru Neacsu

    (Bucharest University of Economic Studies)

  • Antonela Bichir

    (Valahia University)

Abstract

Global supply chains are essential for the smooth functioning of the global economy, as they enable the movement of goods, services, and capital across borders. However, disruptions to these supply chains, such as bottlenecks, can lead to higher prices for producers and consumers. The impact can be particularly severe in the case of large-scale disruptions, such as those caused by the COVID-19 pandemic. In this paper, we illustrate the impact of the global supply chain bottlenecks on the main macroeconomic variables, as inflation, producer prices, industrial production and balance of goods and services for the CEE countries such as Romania, Czech Republic, Hungary and Poland. We analyse the shock in the context of a Bayesian Vector Autoregressive (BVAR). The study compares the shocks administered pre/post the outbreak of the COVID-19 pandemic. Finally, based on the value of GSCPI (Global Supply Chain Pressure Index) we make a near-term conditional forecast on the macroeconomic variables of Romania.

Suggested Citation

  • Andrei Neacsu & Alexandru Neacsu & Antonela Bichir, 2024. "A Comparative Analysis of the Global Supply Chain Bottlenecks During the Covid-19 Pandemic," Springer Proceedings in Business and Economics, in: Alina Mihaela Dima & Sorin Vâlcea (ed.), Reshaping Power Dynamics Between Sustainable Growth and Technical Disruption, pages 101-112, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-58967-6_9
    DOI: 10.1007/978-3-031-58967-6_9
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