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

Author Biography

Martyna Żak

Student of Economics at Cracow University of Economics (Poland)

Jakub Garncarz

Student of Economics at Cracow University of Economics (Poland).

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