Abstract
A lockdown is a set of restrictive actions, in the implementation of which countries face a case of chain reaction: In order to protect human lives and health, the states, due to imbalances in fiscal and monetary policies caused by uncollected planned revenues and unplanned excessive budget expenditures, experience a socio-economic recession. The current paper focuses on the first lockdown implemented in Lithuania to control the spread of COVID-19, which took place from 16 March, 2020 until 16 June, 2020. The main object of the paper is the components that defined the efficiency of the government intervention measures intended to support businesses affected by the first lockdown regime. By generating the mentioned components, we followed the principle of the philosophy of sustainable development: the interdependence of economic, social, environmental, and institutional elements; coherence; and sustainable development. Efficiency is the art of choice, where it is necessary to anticipate the final aim, resulting in maximum benefit from the arrangement of the available limited resources. However, in order to measure the effectiveness of government interventions, we were faced with differences in interpretations of the measurement of the effectiveness of policy decisions. In the course of the research, after analysing secondary data, we identified and, by means of modelling techniques, visualised the main components to estimate the efficiency of the government intervention measures. The theoretical model demonstrated that economic instruments—volume, price, time, transparency, and results—defined the efficiency of their implementation.
Highlights
When in December 2019 an outbreak of a new virus, little known to medical science, which later became known as SARS-CoV-2/COVID-19, was reported in Wuhan, China, probably no country in the world or their business, research, or governmental institutions were preparing for a world-class pandemic, which was subsequently announced by theWorld Health Organization on 11 March [1]
It should be emphasised that the analysis of the quality of the government’s action and the efficiency of the selection of business support measures was based on the principle of winners and losers: All the State financial support was limited merely to directly COVID-19-affected businesses whose activities were totally or mainly restricted due to the content of the lockdown regime and that were included in special victim lists of the State Tax Inspectorate due to their operation restrictions; most of the funds were directed to rescue Small and Medium Enterprises (SMEs)
Researchers’ insights insights into into the the main main factors factors both. Upon both making it possible to most effectively manage socio-economic recessions and to making it possible to most effectively manage socio-economic recessions andsuccessfully to successprevent the spread of COVID-19 and and helphelp natural persons and and legallegal entities to survive fully prevent the spread of COVID-19 natural persons entities to surduring and after the lockdown, we generated a theoretical model; it aimed to visualise vive during and after the lockdown, we generated a theoretical model; it aimed to visual-a principle for measuring the efficiency of the of economic measures implemented by the Lithuaise a principle for measuring the efficiency the economic measures implemented by the nian government during the first lockdown to support
Summary
When in December 2019 an outbreak of a new virus, little known to medical science, which later became known as SARS-CoV-2/COVID-19, was reported in Wuhan, China, probably no country in the world or their business, research, or governmental institutions were preparing for a world-class pandemic, which was subsequently announced by theWorld Health Organization on 11 March [1]. When in December 2019 an outbreak of a new virus, little known to medical science, which later became known as SARS-CoV-2/COVID-19, was reported in Wuhan, China, probably no country in the world or their business, research, or governmental institutions were preparing for a world-class pandemic, which was subsequently announced by the. Due to the rapid spread of infection and the sudden increase in the number of infections, countries successively introduced lockdown regimes that differed in both their content and the duration of the restrictions. Most countries applied rather strict lockdown regimes and related restrictions on the activities of natural persons and legal entities. Strict lockdown regimes were applied in the countries affected by the COVID-19 pandemic: Spain, Italy, and France. Medium-strict lockdown mechanisms were applied in Austria, Estonia, and Latvia. There were cases of a combined lockdown regime, where the overall national lockdown regime was mild, individual areas were subject to strict conditions: the German
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