THE EFFECTS OF THE CORONAVIRUS ON EUROPEAN COUNTRIES ECONOMIES

Ionela-Cătălina Zamfir and Ana-Maria Mihaela Iordache ()
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Ionela-Cătălina Zamfir: The Bucharest University of Economic Studies, Romania
Ana-Maria Mihaela Iordache: Romanian-American University, Romania

Journal of Information Systems & Operations Management, 2021, vol. 15, issue 1, 172-182

Abstract: The analysis of impact of sanitary crisis for European countries is nowadays one of the most discussed subjects. In this research, 19 European countries are analyzed in order to identify and compare the effect of pandemic measures for the economy. Principal components analysis is used to reduce the number of variables from 19 indicators (about labor, trade, GDP, consumption and others) to 7 new variables, while K-means algorithm is used to group the countries in 3 major classes. The results are compared taking into account the first 2 quarters from 2020 and the number of cases registered in each country and the main conclusion is that the impact of the sanitary crisis is visible, more or less, in each economy.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:rau:jisomg:v:15:y:2021:i:1:p:172-182

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