The global economy affected by the COVID-19

Ladislav Vagner,T Kliestik

doi:10.1051/shsconf/202112901030

Abstract

Research background:The disease, which broke out in December 2019 in the Chinese city of Wuhan and caused a pandemic around the world, has a constant impact on the economies of the countries even after almost two years. The issue of the effect of COVID-19 on the global economy and overall earnings management persists. Due to the topicality of the problem, we focused on the impacts and measures affecting the company’s operation.Purpose of the article:The purpose of this research article is to summarize current information on coronavirus and its effects almost two years after the outbreak. Additionally, outline three different scenarios that could occur. We also took into consideration scientific sources that deal with the shock of COVID-19. In addition, we summarize the opinions of scientific authors.Methods:Within the methodology, we used mainly the analysis and obtaining an objective picture of the current situation in the world. Following the outbreak of the pandemic, there have been significant inconstancies in GDP. Subsequently, we focus on the development of individual selected macro indicators that best describe the global economy.Findings & Value added:Finally, we offer three scenarios that outline three different situations that may occur, which we worked on based on a scenario analysis based on a modification of the sensitivity analysis, to specify future development scenarios based on macroeconomic indicators.

Highlights

For today's globalized world, the COVID-19 pandemic is bringing an unprecedented test
From the outbreak of COVID-19 at the end of 2019 until August 2021, a total of 1,843 articles were registered in the Web of Science database
Using VOS viewer analysis, we determined the density of publishing activity in the global economy and the pandemic

Summary

Introduction

For today's globalized world, the COVID-19 pandemic is bringing an unprecedented test. To prevent the spreading of the COVID-19 pandemic, countries worldwide have taken various restrictive measures that have negatively affected the world economy and international trade in goods and services. The current development of the epidemiological situation in the world has resulted in changes in globalization processes that affect the economies and policies of individual states as well as international business between them. They state that government measures to stabilize the number of new cases reduce economic activity. It follows that a recession is a necessary public health measure

Methods

Results

Conclusion