Policy measures for economic resilience of Visegrad Group and Ukraine during the pandemic
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Date
2022
Authors
Boiko, Alina
Umantsiv, Yurii
Cherlenjak, Ivan
Prikhodko, Volodymyr
Shkuropadska, Diana
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
The COVID-19 pandemic has posed unprecedented healthcare and economic resilience
challenges for the world. This study systematizes the policy measures taken by
the Visegrad Group and Ukraine to support national economies in response to the
pandemic. The paper is based on a grouping method to systematize the policy measures,
and a tabular method to present the results of the policy measures classification.
Following systematization results, the policy measures for ensuring the economic resilience
under the pandemic are classified as quarantine and compensatory measures.
Additionally, quarantine measures were classified into prohibitions, restrictions, and
recommendations. Compensatory measures were classified by the type of policy and
grouped according to the global dimension in periodization of the COVID-19 waves.
The analysis of quarantine measures in Ukraine and Visegrad Group also shows that
prohibitions had been used most frequently and for the longest time in Ukraine, particularly
they included school closures, public transport closing, and restrictions on
internal movement. Meanwhile, fiscal, macroprudential, and microprudential measures
prevailed among the compensatory measures. Simultaneously, 38% of all fiscal
measures were direct grants to households and enterprises. The largest number of various
measures (78) were implemented in Poland, linking quarantine and compensatory
measures. The least compensatory measures were implemented in Ukraine (19) and
Slovakia (15). Overall, policy measures helped to avoid a worse scenario of pandemic
impact but did not help to overcome the effects of the pandemic fully.
Description
Keywords
resilience, national economy, policy measures, COVID-19 crisis, article
Citation
Policy measures for economic resilience of Visegrad Group and Ukraine during the pandemic / Alina Boiko, Yurii Umantsiv, Ivan Cherlenjak, Volodymyr Prikhodko, Diana Shkuropadska // Problems and Perspectives in Management. - 2022. - Vol. 20, Issue 2. - Р. 71-83. - http://dx.doi.org/10.21511/ppm.20(2).2022.07