The Disruptive Effects of COVID-19 Pandemic on the Dynamics of EU Macroeconomic Indicators and on Essential Supply Chains

IF 0.6 4区 经济学 Q4 ECONOMICS
Vlad Epurescu
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Abstract

As evidence shows, in the early stages of the pandemic, medical services were overwhelmed by the large number of COVID-19 cases that far exceeded both initial predictions and logistic capacity. To decelerate and contain the spread of the virus, the European Union, like all other great economic powers, attempted to provide a symmetrical response. Thus, curfew measures were imposed in order to restrict mobility and isolate the population from the COVID-19 hotspots. These measures could be associated to widespread contagion effects in the economy, a deterioration of the public finances and a distortion of many supply chains, some of them critical for the EU. The main aim of this paper is to provide a more objective and comprehensive picture of how the European Union economic landscape has been affected by the coronavirus pandemic. In this regard, the author analyses, using some of the most relevant databases, the manner in which the COVID-19 pandemic has influenced, at a macroeconomic level, the dynamics of production, public spending, private investment, consumption and intra- and extra-EU trade. Further, the second aim was to analyse the directions proposed by the European Union for the post-pandemic economic recovery. Finally, the author underlines the need to focus more on the security of supply for essential materials in dealing with future crises, such as climate change. The research is mainly phenomenological in nature and, with the help of the positivist dimension, the author captured the most representative and useful correlations and causal relationships resulting from the analytical approach used in this paper.
COVID-19大流行对欧盟宏观经济指标动态和基本供应链的破坏性影响
有证据表明,在大流行的早期阶段,大量的COVID-19病例远远超出了最初的预测和后勤能力,使医疗服务不堪重负。为了减缓和控制病毒的传播,欧盟和所有其他经济大国一样,试图提供一种对称的反应。因此,实施了宵禁措施,以限制流动并将人口与COVID-19热点地区隔离开来。这些措施可能与经济中的广泛传染效应、公共财政恶化和许多供应链扭曲有关,其中一些供应链对欧盟至关重要。本文的主要目的是更客观和全面地了解欧盟经济格局如何受到冠状病毒大流行的影响。在这方面,作者利用一些最相关的数据库分析了COVID-19大流行在宏观经济层面上对生产、公共支出、私人投资、消费以及欧盟内外贸易动态的影响方式。此外,第二个目标是分析欧洲联盟为大流行后的经济复苏提出的方向。最后,作者强调,在应对未来危机(如气候变化)时,需要更多地关注基本材料的供应安全。研究本质上主要是现象学的,在实证主义维度的帮助下,作者捕捉到了本文中使用的分析方法所产生的最具代表性和最有用的相关性和因果关系。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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CiteScore
1.10
自引率
0.00%
发文量
2
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