Lack of Economic and Food Security on a Global Scale

Sorin Burlacu, Catalin Romeo Cretu, Raluca Florentina Cretu, Carmen Elena Spiridon and Svetlana PLATAGEA Gombos
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Sorin Burlacu: Bucharest University of Economic Studies, Romania
Catalin Romeo Cretu: University of Agronomic Sciences and Veterinary Medicine of Bucharest, Romania
Raluca Florentina Cretu: Bucharest University of Economic Studies, Romania
Carmen Elena Spiridon: Valahia University of Targoviste, Romania
Svetlana PLATAGEA Gombos: Bucharest University of Economic Studies, Romania

REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, 2022, vol. 23, issue 5, 686-693

Abstract: The COVID-19 pandemic has highlighted the vulnerability and disrepair of international food supply chains. Food insecurity, especially among the poor, has worsened because of rising prices brought on by transportation bottlenecks and supply chain breakdowns. Because both sides in the Ukraine conflict are major exporters of food, fuel, and fertilizer, the situation has worsened. A crisis is often signalled by a shift in economic variables, as a bad economy makes it harder for businesses to produce goods and services and for consumers to spend their money. The global financial crisis is the primary focus of our investigation because of the continued relevance of its causes, effects, responses, and lessons to the modern financial system. The aim of our research is to pay special attention to the global financial crisis because its causes, effects, response, and lessons are most applicable to the current financial system. The research method used is the documentary analysis doubled by an in-depth investigation of the specialized literature. The main findings were that long-term economic reforms, with a focus on employment, should be at the top of the government's priority list. So, this measure could be a measure to prevent economic disasters, such as food insecurity. The core of any strategy to combat or adapt to climate change must be a more resilient, sustainable, and equitable food system. However, the difficulty of establishing such a system should not be understated, especially in developing nations and regions with poor soil, where arable land is scarce or degrading and natural resources like water are scarce or in decline.

Keywords: food security; global crisis; economic crisis (search for similar items in EconPapers)
JEL-codes: G01 Q18 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:rom:rmcimn:v:23:y:2022:i:5:p:686-693

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