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Economic crisis as a consequence COVID-19 virus attack: risk and damage assessment
Quantitative Finance and Economics ( IF 3.2 ) Pub Date : 2020-01-01 , DOI: 10.3934/qfe.2020013
Oleg S. Sukharev ,

The purpose of the research is to reveal the mechanism of influence of coronavirus on the economic crisis and to develop a method for assessing threats and risks. Understanding the mechanism of generating an economic crisis allows to develop methods of anti-crisis government policy. The research methodology is based on structural analysis and taxonomic approach. Their application makes it possible to distinguish activities with decreasing demand relative to initial supply, and with increasing demand, which generates deficits of goods. The results of the research at the theoretical level of analysis is the proposed method of assessing threats and risks from the spread of coronavirus, which allows the benefits of certain types of activities (pharmaceuticals and medicine), and consider the damage on other activities (tourism, transportation, education). The diagram of the ratio of benefits and losses from the spread of the virus attack allows to position different economies in different zones of the diagram, according to the reaction of a particular economy to the epidemic, with a different scale of influence. Using such a chart, estimating the expected damage and expected benefits, the impact of COVID-19 on the economy is assessed based on changes in the dynamics of investments in financial and non-financial assets. Analysis of financial and non-financial investments in some countries has led to the conclusion that the financial system that is less biased in terms of financial investment relative to the functioning of non-financial sectors is the least vulnerable in a crisis. The multiple excess of financial investments over non-financial ones for Russia creates the foundation of financial instability and recession. This is confirmed using econometric analysis and forecast. Therefore, overcoming the economic crisis caused by COVID-19 in addition to the current measures will require correcting, in particular, the structure of “financial-non-financial” investments.

中文翻译:

结果导致经济危机COVID-19病毒攻击:风险和损害评估

该研究的目的是揭示冠状病毒对经济危机的影响机制,并开发一种评估威胁和风险的方法。了解引发经济危机的机制可以制定反危机政府政策的方法。研究方法基于结构分析和分类法。它们的应用使得有可能区分需求相对于初始供应减少的活动以及需求增加(产生货物赤字)的活动。在理论分析水平上的研究结果是一种评估冠状病毒传播所带来的威胁和风险的方法,该方法可以使某些类型的活动(药品和药物)受益,并考虑对其他活动(旅游业)的损害,运输,教育)。病毒攻击传播的收益与损失之比的图表允许根据特定经济体对流行病的反应,以不同的影响范围将不同的经济体放置在该图的不同区域中。使用这样的图表,估计预期的损害和预期的收益,基于对金融和非金融资产的投资动态变化来评估COVID-19对经济的影响。对一些国家金融和非金融投资的分析得出的结论是,相对于非金融部门的运作,在金融投资方面偏向较少的金融体系在危机中最不易受到冲击。俄罗斯的金融投资比非金融投资多倍,为金融不稳定和衰退奠定了基础。使用计量经济分析和预测可以确认这一点。因此,要克服由COVID-19造成的经济危机,还需要纠正当前的措施,尤其是需要纠正“金融-非金融”投资的结构。
更新日期:2020-01-01
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