Towards the „new normal” after COVID-19 – a post-transition economy perspective最新文献

{"title":"How Covid-19 impacted the European integration processes? The case of EU Cohesion Policy and budget","authors":"Ida Musiałkowska, Piotr Idczak","doi":"10.18559/978-83-8211-061-6/i2","DOIUrl":"https://doi.org/10.18559/978-83-8211-061-6/i2","url":null,"abstract":"Purpose: The current pandemic crisis caused by Covid-19 significantly impacted the processes of European integration. The European Union decided to act within and beyond existing competences and instruments to support the efforts of its Member States, along with regional and local authorities, in the fight against Covid-19. Our study sheds light on the instruments and solutions proposed within the framework of the cohesion and budget policy to tackle the problems related to Covid-19 in Europe. The analysis focuses on two strands: 1) EU assistance offered through cohesion policy (CP) instruments toward above areas; 2) the future evolution of EU budget, and therefore integration shifts, provoked by the Covid-19 crisis. Design/methodology/approach: The study analyzes statistical data with regard to the use of instruments of the Cohesion Policy under the Covid-19 pandemic, but also the amendments introduced to legal acts and decision-making processes that refer to the multiannual financial framework (MFF) for 2021–2027. Findings: We notice a strong shift of priorities regarding environment transformation, digitalization, and health protection, reflected in the MFF. The coordinative role of European institutions and the redirection of different financial instruments to health care follows the neofunctionalist paradigm and represents a spillover effect resulting from integration. The crisis analyzed from the institutional perspective is seen as a chance to reform the decision-making process, while on the other hand, as a threat to the inclusive integration of all Member States. Originality and value: The paper is an original contribution on the overall use of both financial and legislative instruments in the times of unprecedented health and economic crisis caused by Covid-19 in the European Union. The text can be a valuable insight for both researchers and practitioners in the field of broadly understood European studies.","PeriodicalId":369336,"journal":{"name":"Towards the „new normal” after COVID-19 – a post-transition economy perspective","volume":"50 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116246300","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Effects of the Covid-19 pandemic on sport, video game, and tourism industry: Sentiment analysis of press, internet articles, and Twitter data","authors":"Łukasz Bryl, Justyna Majewska, Szymon Truskolaski","doi":"10.18559/978-83-8211-061-6/ii2","DOIUrl":"https://doi.org/10.18559/978-83-8211-061-6/ii2","url":null,"abstract":"Purpose: The chapter examines the extent and level of the pandemic impact on sport, video game, and tourism industry by analyzing the emotional narration of articles related to Covid-19 effects on these industries so as to assess and predict the situation of industries during the pandemic and in the following years, but also to explain sources of positive sentiment for a given industry. Design/methodology/approach: The study provides a sentiment analysis of the global disclosure of the Covid-19 pandemic in the press, online articles, and social media (Twitter) with the use of three independent R packages. The final sample consisted of 142 articles; the oldest was published on January 23, 2020, whereas the newest one on October 14, 2020. Findings: Sentiment analysis revealed that the emotional tinge of the articles is much more positive for video games and soccer than in the case of tourism. In the case of video games and soccer, positive emotions such as “trust” or “anticipation” prevailed over much more common emotions of “fear” and “sadness” used about tourism. The impact of the pandemic was similar for video games and soccer, which was a mixture of negative and positive events. Research limitations/implications: Further research should use other resources such as the mass media or other data sources in addition to social media information and include a long-term analysis divided into stages of the pandemic as reactions and moods have been changing over time. Moreover, the factors influencing the perception of situations in different sectors of the economy should be identified in future research. Practical implications: The use of sentiment analysis shows that such quantification may be performed for new social phenomena before any hard (e.g., financial) data are available. Social implications: An approximation was obtained for quantifying the societal “general feeling” with regards to specific sectors affected by the pandemic. Originality and value: The chapter compares the response to the pandemic crisis of different sectors that reveal the sentiment contributing to the growth or difficulties of a given industry. The use of sentiment analysis enabled us to assess and predict the situation of industries during the pandemic before the hard and comprehensive data will occur.","PeriodicalId":369336,"journal":{"name":"Towards the „new normal” after COVID-19 – a post-transition economy perspective","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133059189","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The European Union’s Common Commercial Policy and the Covid-19 pandemic: Reactions and challenges","authors":"G. Mazur","doi":"10.18559/978-83-8211-061-6/i3","DOIUrl":"https://doi.org/10.18559/978-83-8211-061-6/i3","url":null,"abstract":"Purpose: The general aim of the chapter is to investigate trade measures implemented in the EU in the aftermath of the Covid-19 outbreak and define general potential effects of the current economic turbulences on the future shape of the Common Commercial Policy (CCP). Design/methodology/approach: The chapter is based on literature/EU official documents studies and statistical analysis of the EU’s merchandise trade. It has been structured into three parts. The first one presents recent trends in the EU’s external merchandise trade caused by the pandemic’s economic repercussions. This is followed by ashort analysis of temporary trade restrictions implemented by many EU Members States and the EU in response to supply shocks. The third part refers to the potential impact of current trade and economic processes on the post-pandemic trade strategy of the EU. Findings: Although the future shape of global trade system and the pandemic’s impact on the nature of the CCP are subjects of high uncertainty, the conducted analysis offers some general conclusions. The implemented trade restrictions should be limited and made temporary as future trade openness is essential for economic recovery. There is also ageneral consensus that the EU’s CCP should ensure the necessary resilience to future trade distortions. However, this should not be connected with protectionism and narrowly understood self-sufficiency. Among important factors that reinforce the resilience, we should mention the solutions delivered by new technologies (e.g. automation, AI, three-dimensional printing), fair competition, higher transparency of trade policies, international standards, certification schemes, and stronger multilateral cooperation, including World Trade Organization’s reforms. The renewed trade strategy will also be accompanied with global trade and economic tendencies such as the reshoring and regionalization of trade. Originality and value: The chapter is addressed to students, scholars, and policymakers by contributing to the current debate on the post-pandemic shape of global trade relations and the future nature of the EU’s Common Commercial Policy.","PeriodicalId":369336,"journal":{"name":"Towards the „new normal” after COVID-19 – a post-transition economy perspective","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116903267","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Women’s entrepreneurship in the Covid-19 pandemic","authors":"Alicja Hadryś","doi":"10.18559/978-83-8211-061-6/iii4","DOIUrl":"https://doi.org/10.18559/978-83-8211-061-6/iii4","url":null,"abstract":"Purpose: The main goal of the chapter was to shed light on the challenges that women entrepreneurs face during the Covid-19 pandemic and answer how women entrepreneurs reorient their businesses in this situation. Design/methodology/approach: The study used secondary data (literature and reports), along with direct interviews with women entrepreneurs located in Poland. Findings: The Covid-19 pandemic and the ensuing disruption have disproportionately impacted women. In the near future, women will experience increased unemployment and household responsibilities, along with the exacerbation of social injustice. At the same time, the Covid-19 pandemic catalyzed changes. The findings indicate that some women entrepreneurs aggressively adapted their businesses to resist the short-term impact of the Covid-19 pandemic. There appeared acceptance for remote work models, acceleration in the use of digital channels on both the demand and the supply side, and a shift toward digital over physical interactions, all of which have the potential to level the playing field, especially for women entrepreneurs. Research limitations/implications: Further research in this area should focus on the effects of protracted restrictions on doing business and the growing problems associated with managing a pandemic. Originality and value: The study adds anew dimension to entrepreneurship considerations by recognizing that gender issues are rarely considered in times of crises of economies.","PeriodicalId":369336,"journal":{"name":"Towards the „new normal” after COVID-19 – a post-transition economy perspective","volume":"65 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131136393","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Central Bank Policy toward the Covid-19 pandemic: Seeking patterns among the most powerful central banks","authors":"Anna Matysek-Jędrych, Katarzyna Mroczek-Dąbrowska","doi":"10.18559/978-83-8211-061-6/i5","DOIUrl":"https://doi.org/10.18559/978-83-8211-061-6/i5","url":null,"abstract":"Purpose: The main objective of this chapter is to identify the role of central banks in managing the crisis created by the Covid-19 pandemic. In order to explore this subject, the chapter attempts to identify similarities and differences in the behavior of selected central banks, those most important from the viewpoint of the global economy. Design/methodology/approach: The study encompassed 29 countries, mostly European economies (16) and other economies that bear the impact on the global output. The empirical analysis was based on k-means clustering analysis, which enabled us to identify groups of countries that followed similar solutions in response to the Covid-19 crisis. Findings: The analysis conducted in this chapter indicates the diverse nature of central banks’ policies and, in many cases, to aspecific bias toward an increase in monetary or financial policies. The intensification of the use of the tools of certain policies must be seen from the perspective of the purpose of those policies, but also in the context of the legal or statutory constraints imposed on central banks. Research limitations/implications: An interesting direction of research into the diverse nature of central bank policies will undoubtedly be to seek answers to the question of the effectiveness of these policies in the context of crisis. Such astudy, carried out ex post, may provide astarting point for designing future central bank crisis policy and implementing institutional solutions of anational or even supranational nature. Originality and value: The chapter shed some light on the regulatory and statutory sphere of central banking. We may clearly state that key central banks of the world do not operate within the framework of asingle universal rule and that there simultaneously is no optimal combination of crisis policy tools even for the same crisis. Therefore, when looking for regulatory and legal solutions, we should treat each case individually by designing regulations in away that corresponds to the specific features and conditions prevailing in the given financial and economic system.","PeriodicalId":369336,"journal":{"name":"Towards the „new normal” after COVID-19 – a post-transition economy perspective","volume":"202 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127581418","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The economy battling Covid-19. A macroeconomic approach","authors":"T. Kowalski","doi":"10.18559/978-83-8211-061-6/i1","DOIUrl":"https://doi.org/10.18559/978-83-8211-061-6/i1","url":null,"abstract":"Purpose: The chapter identifies the complexities of Covid-19’s impact on the economy. The empirical part presents and assesses initial reactions of inflation, industrial production, unemployment rate, Gross Domestic Product (GDP) growth rate, and shifts in the GDP expenditure structure. Design/methodology/approach: Acomplete Keynesian macroeconomic model is used to outline how the negative shock hit the economies. The model shows potential implications of the use of reactive economic policy measures. Based on the model, the empirical part provides comparative analyses of reactions of four economies of the European Monetary Union (EMU) – namely France, Germany, Italy and Spain – two non-EMU economies of Hungary and Poland, and two major large open economies: the USA and Japan. Findings: The Covid-19 pandemic has sent a universal, global shockwave with asymmetric outcomes in individual economies. Covid-19 hit all economies and struck both the demand side and – after ashort time lag – the supply side. Although interconnected, the economies have maintained notable structural differences and, therefore their autonomous reactions to negative demand and supply shocks were diverse. Practical implications: The complete macroeconomic Keynesian model allows for the conceptualization of the transmission of the Covid-19 shock on the economy’s supply and demand sides. The model is also a helpful tool in the analysis of the potential role of economic policy in reaction to the supply and demand shocks triggered by the pandemic. Originality and value: The empirical analyses unveil the eight economies’ differentiated reactions to similar counter-crisis policy measures. Their scale in all cases pushed the state back to the center of economic life. This structural shift requires attention and systematic theoretical and empirical studies.","PeriodicalId":369336,"journal":{"name":"Towards the „new normal” after COVID-19 – a post-transition economy perspective","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128166877","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The future of the European Migration and Asylum Policy","authors":"Judyta Cabańska","doi":"10.18559/978-83-8211-061-6/i4","DOIUrl":"https://doi.org/10.18559/978-83-8211-061-6/i4","url":null,"abstract":"Purpose: Migration is acomplex issue, with many facets that need to be weighed. Five years after the 2015 refugee crisis and the European Agenda on Migration, the EU still lacks a common migration and asylum policy. The aim of the chapter is to discuss the future of the migration and asylum policy in the European Union. Design/methodology/approach: The chapter analyzes the current migration situation in Europe, the impact of Covid-19 on migratory flows in Europe, challenges faced by the EU, and legislative initiatives proposed under the New Pact on Migration and Asylum. The text indicates key challenges related to migration faced by the European Union and provides an overview of the legislative proposals that seek to address the identified gaps. Findings: Covid-19 pandemic highlighted the need for the EU to be prepared to address situations of force majeure and broader crises, which impact migration and asylum management systems. The Pact on Migration and Asylum sets out the Commission’s new approach to migration, addresses border management, and ensures more coherence to integrate the internal and external dimensions of migration policies. Originality and value: The chapter attempts to contribute to the literature on international migration by delivering analysis results of Covid-19 pandemic’s impact on the migration flows in Europe and the analysis of EU’s new approach to migration and asylum policy.","PeriodicalId":369336,"journal":{"name":"Towards the „new normal” after COVID-19 – a post-transition economy perspective","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121083356","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Polish logistics real estate market as a link in international supply chains during the Covid-19 crisis","authors":"W. W. Budner","doi":"10.18559/978-83-8211-061-6/ii4","DOIUrl":"https://doi.org/10.18559/978-83-8211-061-6/ii4","url":null,"abstract":"Purpose: The aim of the study is to determine the emerging trends of changes related to the situation of uncertainty and increased risk in supply chains, and at the same time limiting the negative effects of the epidemic on the logistics industry. Design/methodology/approach: The study focuses on the analysis of changes in the logistics real estate market in Poland. The analysis period covers the years 2004–2020. The data used here comes from reports from real estate advisory companies and Statistics Poland. Findings: The last dozen or so years has been aperiod of dynamic development in the Polish market of logistic space and facilities. The year 2019 turned out to be arecord year in the history of the market in terms of the increase in warehouse space and Poland has become the sixth biggest warehouse market in Europe. The year 2020 and SARS-CoV-2 has brought a lot of uncertainty about the future, and the recession has become afact. Practical implications: More than half a year after the outbreak of the pandemic, several emerging trends of changes related to the situation of uncertainty and increased risk in supply chains, as well as approaches to limit the negative effects of the epidemic on the logistics industry, can be observed. These include: an increase in e-commerce preferences in relation to traditional trade; increase in stock levels; relocation of production sites. Originality and value: The observed phenomena indicate moderate optimism and the resilience of the logistics industry in the medium term. In turn, in the long run, production can be expected to be relocated to closer areas (domestic or European) in order to shorten the supply chain.","PeriodicalId":369336,"journal":{"name":"Towards the „new normal” after COVID-19 – a post-transition economy perspective","volume":"66 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115187361","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Disruption of European agri-food markets due to Covid-19: The case of Poland","authors":"M. Śliwińska, R. Śliwiński","doi":"10.18559/978-83-8211-061-6/ii5","DOIUrl":"https://doi.org/10.18559/978-83-8211-061-6/ii5","url":null,"abstract":"Purpose: The chapter describes the economic impact of Covid-19 on the agri-food market in Poland and its influence along food supply chains by discussing demand accommodation and alterations in supply channels. Design/methodology/approach: The study delivers a critical literature review, analyzes secondary data, and utilizes available statistics. Findings: The chapter shows the impact of Covid-19 on the various branches of agri-food sector like cattle meat, cereal, poultry, pork, milk, and horticulture. It shows quantitative information, time period, the level of sales decreases and increases, and price fluctuations caused by the coronavirus pandemic. Furthermore, the study scrutinizes consumer reactions to the first and latter period of economy lockdown in respect to the food products. Food demand adjustments were shown in respect to types of food product, shopping frequency, and the use of alternative delivery channels. Practical implications: The analysis of the agri-food market reaction to the Covid-19 pandemic allows us to find bottlenecks in the system and design support programs to help farmers, intermediaries, and delivery channels of food to build resistance to similarly extreme situations. Originality and value: The chapter presents in a short and complex manner the Polish agri-food market’s reaction to the coronavirus pandemic. The reactions of particular branches and the entire agri-food sector can be of interest to academics, governmental institutions, administration officials, and students.","PeriodicalId":369336,"journal":{"name":"Towards the „new normal” after COVID-19 – a post-transition economy perspective","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126258767","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Foreign direct investment and the Covid-19 pandemic: The real economy perspective and theoretical implications","authors":"M. Gorynia, Piotr Trąpczyński","doi":"10.18559/978-83-8211-061-6/i7","DOIUrl":"https://doi.org/10.18559/978-83-8211-061-6/i7","url":null,"abstract":"Purpose: The objective of this chapter is to discuss the effects of the Covid-19 pandemic on the international operations of firms, with a particular focus on foreign direct investment. Design/methodology/approach: The real economy perspective was adopted, whereby basic relationships in terms of the development of FDI flows and transactions worldwide were analyzed. In addition, primary data from a survey of internationally operating Polish firms were analyzed in order to shed additional light on the influence of the pandemic on international economic activity. In addition to formulating observations with regard to general patterns emerging from the data, an attempt has been made to outline the likely theoretical implications of the pandemic for FDI research. Findings: In the short term, there was a significant limitation of FDI, caused mainly by the introduction of lockdowns. In the middle and long run, the current crisis will likely translate into acontinued slowdown in FDI flows. On the other hand, as we may see from the early evidence analyzed in the chapter, the impacts on the international economic activity vary across locations at different levels of economic development, but also between different industries and business models. Research implications: From a theoretical perspective, we must note that in the short run the existing theoretical concepts can be helpful in explaining the present phenomena. However, in the long-term perspective a number of fundamental assumptions may require several revisions outlined in the chapter. Originality and value: The chapter includes an analysis of recent macro- and micro-level data on the effects of the pandemic on international business, along with forecasts for the post-pandemic period. Apart from the practical dimension of the analyzed primary and secondary data, the chapter also offers a number of theoretical implications.","PeriodicalId":369336,"journal":{"name":"Towards the „new normal” after COVID-19 – a post-transition economy perspective","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114714473","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}