Economic policy towards the challenges of the COVID-19 pandemic in selected European Union countries
Abstract
Objective: The aim of the article was to investigate the impact of various policies to reduce the spread of epidemics on the functioning of key areas of the economy.
Research Design & Methods: The study was constructed as an analysis of the development of epidemics in selected countries over time. Data was collected on the development of the epidemic, adopted models of fighting the epidemic, both in the area of restrictions and restrictions, as well as economic support measures. In order to find an answer to the question of which model of fighting the epidemic is the most effective, countries that used different methods of fighting were compared. The study used a quantitative method to present data on the scale of the epidemic crisis and also to present the economic crisis: the size of the unemployment rate, production volume in industry, and retail trade in the countries studied. A partial literature query, comparative method and case study method were also used.
Findings: The study showed no clear links between parents counteracting the spread of the epidemic, accessible to infected and diseased people, and the economic economy. The observations presented in the article may constitute an introduction to further research on the policies applied during the epidemic. in order to present clear correlations and benchmark models, it would be necessary to obtain daily data for the individual indicators and conduct research over a longer period.
Contribution & Value Added: This article as a whole compiles and analyses what actions were taken by national governments to limit the spread of the coronavirus epidemic. The article also describes how the economies of these countries responded to the actions taken.
Keywords
coronavirus; epidemic; economic policy; economic crisis; society
References
Akpan, I.J., Soopramanien, D., & Kwak, D.H. (2020). Cutting-edge technologies for small business and innovation in the era of COVID-19 global health pandemic. Journal of Small Business & Entrepreneurship, 32(6), 1-11.
Alesina, A., de Broeck, Prati, A., & Tabellini, G. (1992). Default risk on government debt in OECD Countries. Economic Policy: A European Forum, 7(15), 427-463.
Apuke, O.D., & Omar, B. (2020). Fake news and COVID-19: modelling the predictors of fake news sharing among social media users. Telematics and Informatics, 56.
Bartik, A. W., Bertrand, M., Cullen, Z., Glaeser, E.L., Luca, M., & Stanton, C. (2020). The impact of COVID-19 on small business outcomes and expectations. Proceedings of the National Acade-my of Sciences, 117(30), 17656-17666.
Bartosiewicz, A. (2020). Tarcza antykryzysowa. Szczególne rozwiązania w prawie podatkowym, rozliczeniach ZUS i wybranych aseptkach prawa pracy związane z COVID-19. Wolters Kluwer.
Deb, P., Furceri, D., Ostry, J.D., & Tawk, N. (2020). The economic effects of Covid-19 containment measures. IMF Working Papers, 20(158), 4-44.
Eurostat (2020a). Unemployment – monthly data. Retrieved June 21,2020 from https://ec.europa.eu/eurostat/databrowser/view/une_rt_m/default/table?lang=en&fbclid=IwAR3LLQ75dtBSHIeNZI-pN5gxDu-S-UfTtb_hN7W7AiYH_d-xAczQkjKF8-I
Eurostat (2020b). Production in industry – monthly data. Retrieved June 20, 2020 from https://ec.europa.eu/eurostat/web/products-datasets/-/sts_inpr_m?fbclid=IwAR0htlxO51XKjyLp6ICYw50z7MMQWV0EQF6PJjo7uyQqGCEKigkEUuGB8bo
Eurostat (2020c). Business and Consumer Surveys. Retrieved June 20, 2020 from https://ec.europa.eu/eurostat/web/euro-indicators/business-and-consumer-surveys?fbclid=IwAR3DnsJR--NgfFhILIlm-QUgo4w9MMpUd3SUwB88k2bQxbfDH_xioXBGjWs
Gallant, J., Kroft, K., Lange, F., & Notowidigdo, M.J. (2020). Temporary Unemployment and Labor Market Dynamics During the COVID-19 Recession. Brookings Papers of Economic Activity, 141, 1-45.
Kuc-Czarnecka, M. (2020). COVID-19 and digital deprivation in Poland. Oeconomia Copernicana, 11, 415-431.
Kulpa, R., Białecka, A. (2020). Możliwości uelastycznienia czasu pracy. Retrieved on June 10, 2020 from https://home.kpmg/pl/pl/blogs/home/posts/2020/04/.
Li, G., & De Clercq, E. (2020). Therapeutic options for the 2019 novel coronavirus (2019-nCoV), Nature Reviews Drug Discovery, 19(3), 149-150.
Ministry of Development (2020). Tarcza antykryzysowa. Retrieved June 10,2020 from https://www.gov.pl/web/rozwoj-praca-technologia/tarcza-antykryzysowa?fbclid=IwAR0TDO2fX-Z8IeiUMMQxSNXrwbpQ_JXK5yLh32PXCzIlJkCkVoPhHzJ2f9g
Nicola, M., Alsafi, Z., Sohrabi, C., Kerwan, A., Al-Jabir, A., Iosifidis, C., & Agha, R. (2020). The socio-economic implications of the coronavirus pandemic (COVID-19): A review. International Jour-nal of Surgery, 78, 185-193.
Orso, D., Federici, N., Copetti, R., Vetrugno, L., & Bove, T. (2020). Infodemic and the spread of fake news in the COVID-19-era. European Journal of Emergency Medicine, 10(4). Retrieved June 26, 2020 from https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7202120/
Our World in Data (2020). Coronavirus Pandemic Data Explorer. Retrieved June 20,2020 from https://ourworldindata.org/coronavirus-data-explorer?zoomToSelection=true&time=2020-03-01..latest&country=IND~USA~GBR~CAN~DEU~FRA®ion=World&casesMetric=true&interval=smoothed&perCapita=true&smoothing=7&pickerMetric=total_cases&pickerSort=desc&fbclid=IwAR0FukVVtQnQjbVRT0TOPx8PUe8B4pP2jrmfLzFFmsTbC2dJkx-RTwFUs8c
Rosińska, M. (2020). Zrozumieć COVID-19. Retrieved on September 14, 2020 from https://informacje.pan.pl/images/2020/opracowanie-covid19-14-09-2020/ZrozumiecCovid19_opracowanie_PAN.pdf
Rząsa, D. (2020). Czy Szwecja zrobiła dobrze nie zamykając gospodarki na czas epidemii? Dane na to nie wskazują, ale dyskusja trwa. Retrieved June 26,2020 from https://300gospodarka.pl/news/szwedzka-strategia-koronawirus-konsekwencje
Siemionczyk, G. (2020). Niemcy w głębokiej recesji, ale jest nadzieja. Retrieved June 13,2020 from https://www.rp.pl/Dane-gospodarcze/305219981-Niemcy-w-glebokiej-recesji-ale-jest-nad-zieja.html?fbclid=IwAR0eVx9MKx9go_tf1_XkSfC9nWlePhDd4qpuHho2Las3UMmfgev9LtUgkhg
Sikorski, K. (2020). Szwecja: Nikt już nie umiera od koronawirusa, zakażonych jest mało.Jak Szwe-dzi to zrobili? Retrieved September 20, 2020 from https://polskatimes.pl/szwecja-nikt-juz-nie-umiera-od-koronawirusa-zakazonych-jest-malo-jak-szwedzi-to-zrobili/ar/c1-15182654
Spiteri, G., Fielding, J., Diercke, M., Campese, C., Enouf, V., Gaymard, A., & Demina, Y. V. (2020). First cases of coronavirus disease 2019 (COVID-19) in the WHO European Region, 24 January to 21 February 2020. Eurosurveillance, 25(9), 1-6.
Szymański, D. (2020). Biznes ma dość „strzałów w kolano”. Bierze sprawy w swoje ręce. Retrieved October 20, 2020 from https://businessinsider.com.pl/firmy/sztab-kryzysowy-w-branzy-gastronomicznej-i-hotelarskiej/lzzmtn6
Wolska, A. (2020). Szwecję czeka recesja, mimo braku lockdownu. Retrieved June 11, 2020 from https://www.euractiv.pl/section/gospodarka/news/koronawirus-szwecja-nie-wprowadzila-lockdown-a-i-tak-jej-gospodarka-mocno-ucierpi-epidemia-ue/?fbclid=IwAR0htlxO51XKjyLp6ICYw50z7MMQWV0EQF6PJjo7uyQqGCEKigkEUuGB8bo
WHO (2020). World Health Statistics 2020. Retrieved June 26,2020 from https://www.who.int/data/gho/whs-2020-visual-summary
Weems, C.F., Carrion, V.G., Mccurdy, B.H., & Scozzafava, M.D. (2020). Increased risk of suicide due to economic and social impacts of social distancing measures to address the Covid-19 pan-demic: A forecast. Retrieved June 26, 2020 from https://www.researchgate.net/publication/340487993.
Wu, Z., & McGoogan J.M. (2020). Characteristics of and important lessons from the coronavirus disease 2019 (COVID 19) outbreak in China. Retrieved June 26, 2020 from https://jamanetwork.com/journals/jama/fullarticle/2762130.
Zahra, S.A. (2020). International entrepreneurship in the post Covid world. Journal of World Busi-ness, 56(1).
Żuławiński, M. (2020). Stopa bezrobocia w marcu spadła. Kryzys dopiero przed nami. Retrieved on June 15, 2020 from https://www.bankier.pl/wiadomosc/Stopa-bezrobocia-w-marcu-spadla-Kryzys-dopiero-przed-nami-7869928.html?fbclid=IwAR12sSvKMRqtaw4Tq3S96y7o2GutsDzPWp_BhiWStOmbQAZOuJKxzErBdhw.
Cracow University of Economics Poland
https://orcid.org/0000-0001-8351-8646
Student of Economics at Cracow University of Economics (Poland)
Cracow University of Economics Poland
http://orcid.org/0000-0003-0166-9403
Student of Economics at Cracow University of Economics (Poland).
This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License.
1. The author agrees to publish his article free of charge in the journal "International Entrepreneurship Review" (IER) in the language of the above publication (English). The editorial staff reserves the right to shorten texts and to change titles.
2. The journal allows the authors to keep their copyrights (the copyright) in accordance with the license: Creative Commons CC BY 4.0 from 2023 (since vol. 9, no 1). By the end of 2022 we published under Creative Commons CC BY-ND 4.0.
Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) only the final version of the article, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access). We advise to use any of the following research society portals:
- ResearchGate
- SSRN
- Academia.edu
- Selected Works
- Academic Search
