The impact of economic factors during the coronavirus infection pandemic

Alexey Balashov; Lyudmila Podkorytova

THE IMPACT OF ECONOMIC FACTORS DURING THE CORONAVIRUS INFECTION PANDEMIC The impact of economic factors during the coronavirus infection pandemic

АА Аа

Published in Theoretical economics · Pages 54–63 · Rubric: NEW INDUSTRIALIZATION: THEORETICAL AND ECONOMIC ASPECT

Received: 30.06.2022 Accepted: 30.06.2022 Published: 02.05.2024

Authors

Alexey Balashov

ORCID

Lyudmila Podkorytova

Alexey Balashov

Academic degree: candidate of economic sciences

Science rang: docent

Novosibirsk State Pedagogical University Novosibirsk

ORCID

Lyudmila Podkorytova

Novosibirsk State University of Economy and Management Prepodovatel'

ABSTRACT

The main cause of the economic crisis in 2020 was the coronavirus pandemic, which led to critical consequences in the field of economics. The first half of 2020 turned out to be the most difficult period for our country, especially for its economy, due to the action of several factors at the same time - this is a sharp drop in oil prices on the world market in March–April, and at the same time, most of the restrictions and bans on the work of many companies appeared at that time, which were initially announced by the federal authorities, and then, by the authorities of most regions until April 30, and then extended until May 31, 2020 in connection with measures to combat the spread of coronavirus infection. Small and medium-sized businesses were particularly affected in this situation, as well as household incomes sharply decreased, and accordingly, consumption and aggregate demand for products and services decreased. The authors of this article conducted an analysis and study of the consequences of the pandemic, as well as reviewed and analyzed the main measures of support to business and the population that were provided during the pandemic in the Russian Federation at the federal and regional levels. Thanks to the implementation of these support measures, the Russian economy began to show good recovery rates in the second half of 2020, and the authors conclude that state economic support was successful, although insufficient. At the same time, due to the "coronavirus" crisis, problems related to modernization, digitalization and diversification of production industries, systemic-institutional, structural, scientific and technical restructuring of the economy, as well as improvement of the process of providing medical care and public health protection have worsened. The main purpose of this study is to consider the factors of the impact of the pandemic on economic processes.

KEYWORDS

crisis, pandemic, restrictive measures, economic processes, directions of state support, modernization

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GOST

Balashov A. M., Podkorytova L. V. The impact of economic factors during the coronavirus infection pandemic // Theoretical economics. 2023. no. 6. pp. 54-63. (Date of access 08.09.2026).

MLA

Alexey Balashov, Podkorytova L. V.. "The impact of economic factors during the coronavirus infection pandemic." Theoretical economics.6 (2023): 54-63.

APA

Balashov A. M., Podkorytova L. V. (2023). The impact of economic factors during the coronavirus infection pandemic. Theoretical economics(6), 54-63.

Chicago

Alexey Balashov, Podkorytova L. V.. "The impact of economic factors during the coronavirus infection pandemic." Theoretical economics, no. 6 (2023): 54-63.

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{{cite journal | author = Balashov A. M., Podkorytova L. V. | title = The impact of economic factors during the coronavirus infection pandemic | journal = Theoretical economics | year = 2023 | issue = 6 | pages = 54-63 }}

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THE IMPACT OF ECONOMIC FACTORS DURING THE CORONAVIRUS INFECTION PANDEMIC The impact of economic factors during the coronavirus infection pandemic

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