Comparative Analysis of the Economic Crisis at the Beginning of XX Century and XXI Century in Russia and Spain

Sergei B. Zainullin, Oscar Alvarez-Gila, Olga A. Zainullina and Mikel Gómez-Gastiasoro

A chapter in Current Problems of the World Economy and International Trade, 2022, vol. 42, pp 53-62 from Emerald Group Publishing Limited

Abstract: The globalization of the world, in addition to obvious advantages, also brings potential problems. According to the authors, the problem is that the crisis phenomena occur simultaneously and in a very similar way in different countries. The emphasis on comparing the economic crises of the early twentieth and twenty-first centuries was caused by common features such as political instability, declining living standards, severe pandemics that swept the world and their consequences (twentieth-century coronavirus and Spanish flu of the twenty-first century). Comparative analysis allows assessing the causes of crises and their consequences. The importance of studying the 2020s crisis is that this crisis has become the most painful since the Global Great Depression in the 1930s. The novelty is determined in the analysis of the situation of the economic crisis of the 2020s. The materials of the article are of the theoretical value for researchers studying crisis phenomena and anti-crisis measures, government bodies and business representatives.

Keywords: COVID-19 coronavirus pandemic; economic crisis; recession; stock market crash 2020; globalization; comparative analysis; B22; G01; G14; G15; N20; N24 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eme:reanzz:s0190-128120220000042006

DOI: 10.1108/S0190-128120220000042006

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