Abstract
The coronavirus pandemic has shown that previous approaches to the analysis of economic security and the sustainability of the development of states and their regions have not shown the necessary efficiency. In these circumstances, we should turn to the concept of “economic shock”, which characterizes the impact on the global economy caused by restrictive measures at the beginning of the epidemic. The aim of the study is to provide an up-to-date definition of the term “economic shock”, to identify its distinguishing features, to calculate the impact of pandemic shock on the economy of Russian regions (subjects of the Russian Federation) by examining statistical indicators. The economic shock was characterized as a scientific phenomenon different from other destructive influences. The data were analyzed using the principal component method. Correlation coefficients were calculated using the Spearman correlation method. Cluster analysis of observations located in the coordinates of the principal components was carried out using the k-medoid algorithm. For the first direction of the study, the first two principal components captured in total more than 80% of the variation in the raw data. The first component captured 67.4% of the variance of the raw data, while the second component captured 15.7%. Correlation coefficients of the variable (economic indicator of the region) in the first and second components were calculated. Russian regions were divided into clusters based on the degree of damage to the economy from the COVID-19 pandemic – those affected to the greatest extent, the intermediate group, those affected to a lesser extent. The results obtained can be used for further research to identify the factors determining the resilience of various constituent entities of the Russian Federation in the face of a shock. Such research can help to improve the system of monitoring risks and threats at the macro- and meso-levels, to form mechanisms to counteract the sudden impacts of great destructive power.
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