World economy: economic implications of the COVID-19 crisis and prospects for recovery (მსოფლიო ეკონომიკა: COVID-19 კრიზისის ეკონომიკური შედეგები და აღდგენის პერსპექტივები)
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Date
2021
Journal Title
Journal ISSN
Volume Title
Publisher
Ivane Javakhishvili Tbilisi State University Press
Abstract
Global trends and prospects of economic development have been
studied on the grounds of an analysis of statistical data of Georgia,
developed and developing countries against the background of a crisis
caused by COVID-19 pandemic. It is an analysis of perturbations caused by
COVID-19, along with their impact on the economic growth, foreign trade,
balance of payments, public debt, current account deficit, parameters of the
State Budget, inflation, employment, performance of the financial sector,
sustainability, etc. Article also presents a discussion on wide-scale fiscal and
monetary anti-crisis measures implemented in various countries, along with
a possible outcome of such measures in a short- to medium-term horizon,
their impact on macroeconomic and monetary stability of individual
countries, regions and world, economic growth and welfare of people.
Article presents a comparative analysis of the economic impact caused
by the pandemic based on the rich statistical data of a great number of
countries and Georgia. Also, it highlights the significance of anti-pandemic
measures and role of the effective public administration in managing the
financial-economic challenges and in resolving problems.
Description
• Kovzanadze I. (2020). Economic Challenges during COVID-19 and Post-Pandemic
Era. “Economics and Business”, Tbilisi, vol. XII, N4.
• Kovzanadze I. (2020). Economic Challenges and Prospects against the Background
of COVID-19 Infection, “Economics and Business”, Tbilisi, Vol. XII, №2.
• Kovzanadze I. (2018). “Global Economy Post-Crisis to Sustainable Development”,
iUniverrse Inc., New York, Bloomington.
• Kovzanadze I. (2010). “Systemic and Borderline Banking Crises: Lessons Learned
for Future Prevention”, iUniverrse Inc., New York, Bloomington.
• www.geostat.ge
• www.nbg.gov.ge
• www.mof.ge
• www.imf.org/en
• www.bls.gov
• www.bea.gov
• fred.stlouisfed.org .
Keywords
Global economy, macroeconomic stability, monetary stability, COVID-19, economic growth, inflation, state and public finance, world trade, BOP, public debt
Citation
Economics and Business, №3, 2021, pp. 9-23