Abstract
Subject. The article addresses the system of measures used to support the economy during the COVID-19 pandemic. Objectives. The focus is on the comparative analysis of efficiency of measures for economy support during the COVID-19 pandemic in different countries, identification of possible correlation between economic recovery and the amount of financial assistance provided. Methods. We employed methods of systems, comparative, structural, and logical analysis. Results. The paper characterizes measures of socio-economic support in China and other countries, discloses relative volumes of support as a percentage of the gross domestic product, analyzes the structure of economic support measures. The performed analysis did not reveal direct impact of the relative amount of assistance to the economy on the growth of real gross product. Using the example of the People's Republic of China, we unveiled the effectiveness of administrative actions to localize the pandemic and support the economy, specified the role of fostering appropriate civic initiative. During the pandemic, the key factor of the subsequent economic recovery is discipline and responsibility of the authorities and society, rather than credit volumes and provision of loans and benefits. Conclusions. The study demonstrated the effectiveness of the institution of strong central government with high social responsibility, and secondary nature of economic support measures compared to administrative measures to support the economy during the COVID-19 pandemic.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.