Management of economic competition in the context of COVID-19: European initiatives and lessons for Ukraine

Abstract

Due to the coronavirus epidemic, a large number of changes occurred not only in social life, but also in the economy. These changes and unforeseen circumstances faced by most enterprises should encourage business entities to cooperate and coordinate their activities in order to overcome the consequences of the economic crisis. However, this was not the case in practice. After all, in business conditions with strict quarantine restrictions, enterprises were prone to both fierce competition and forced cooperation. Therefore, it should be stated that in many countries of Europe and the world in general, the pandemic has caused increased involvement of the state in the economy, and therefore a greater intensity of activities to coordinate the behaviour of business entities. This article is designed to reveal the important role of the impact of the COVID-19 pandemic on competition and competitiveness market economies. It further details what kind of changes have taken place in the field of protection of economic competition caused by the COVID-19 pandemic. The question of maintaining a healthy competitive struggle and maintaining one’s positions in the market economy in crisis conditions is revealed. It is noted that the principles of protecting the economy from external competition, ensuring food and economic security have undergone changes. It describes how enterprises cooperated with each other during the pandemic and what consequences this has for the post-Covid economy. It is indicated how important it is not to ignore the process of forming the price policy of enterprises and to carry out an analysis regarding the absence of abuse of market power or actions deliberately coordinated with competitors, or the presence of enterprises in a dominant position on the market. The reaction to the pandemic crisis in Europe on the part of the relevant state structures is shown, and the role of the Antimonopoly Committee of Ukraine in the formation and implementation of competition policy in this crisis period is revealed. European initiatives to overcome the economic crisis caused by the COVID-19 pandemic are characterized, and useful tools for overcoming it for Ukraine are presented.