COVID-19 Crisis and Supply Side Bottlenecks in the EU. Shorter and Longer Term Prospects

IF 1.2 Q3 ECONOMICS

Montenegrin Journal of Economics Pub Date : 2022-09-15 DOI:10.14254/1800-5845/2022.18-4.2

P. Halmai

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引用次数: 3

Abstract

The COVID-19 shock affected the global economy mainly through the col-lapse of demand, labour supply and industrial output, supply chains, commodity prices, international trade and capital flows. From the second half of 2020, various bottlenecks (logistical disruptions;shortages of raw materials and parts) in the EU economy have had a growing impact on growth. Following the recurrent pandemic shocks, the war shock has caused further severe supply-side disruptions from February 2022 onwards, in particular in raw materials markets (including energy sources and agricultural raw materials) and international logistics. Supply shortages in the EU have not only a one-off but also a ripple effect throughout the economy. Spill-over effects across Member States are of great importance. Together, the shortages of production inputs can have a significant negative impact on output and the recovery of the economy. At the same time, supply-side shocks can have a significant impact on the restructuring of supply chains, the deepening of green and digital transformation, and productivity growth. © 2022, Economic Laboratory for Transition Research. All rights reserved.

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新冠肺炎危机与欧盟供应瓶颈短期和长期前景

2019冠状病毒病冲击对全球经济的影响主要表现为需求、劳动力供应和工业产出、供应链、大宗商品价格、国际贸易和资本流动的崩溃。从2020年下半年开始，欧盟经济中的各种瓶颈(物流中断、原材料和零部件短缺)对经济增长的影响越来越大。在反复出现的大流行病冲击之后，从2022年2月起，战争冲击造成了进一步严重的供应中断，特别是在原材料市场(包括能源和农业原材料)和国际物流方面。欧盟的供应短缺不仅是一次性的，而且会在整个经济中产生连锁反应。对会员国的溢出效应非常重要。总之，生产投入的短缺可能对产出和经济复苏产生重大的负面影响。与此同时，供给侧冲击可能对供应链重组、绿色和数字化转型的深化以及生产率增长产生重大影响。©2022，转型研究经济实验室。版权所有。

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来源期刊

Montenegrin Journal of Economics ECONOMICS-

CiteScore

3.90

自引率

0.00%

发文量

审稿时长

17 weeks

期刊介绍： “Montenegrin Journal of Economics” is an international scientific periodical, issued by NGO “Economic Laboratory for Transition Research” (ELIT) Podgorica, Montenegro. It publishes theoretical, empirical and applicative articles from all the areas of Economics. The journal is issued four times a year. Montenegrin Journal of Economics aspires to educate the widest public on contemporary research and achievements in various areas of economics and to expend the boundaries of economic knowledge. Montenegrin Journal of Economics aims to publish innovative, straightforward, challenging, analytical and review articles on economic phenomena, events and changes . The journal''s content aspires to be actual, relevant and interesting to a wide readership of economic specialties,. This includes publishing the articles of authors from various universities and schools of economics worldwide and their mutual cooperation. Areas of research include, but are not limited to, the following: Economic Theory, International Economics, and Transition Issues.