Падение в мировую рецессию 2020…

The fall into 2020 recession

Leonid Grigoryev, Victoria Pavlyushina and Evgeniya Muzychenko

MPRA Paper from University Library of Munich, Germany

Abstract: All world upward trends and cycles have a lot in common while crises significantly differ. In the case of this research the recession was sparked not by the shock of financial sector but by the restrictions imposed on consumption that previously was not inclined to fluctuate that much. Oil price shock has increased negative influence on the world energy market and economy overall. The decline in employment and personal consumption has struck more on most vulnerable social classes but the decreased volume of demand can be also attributed to the wealth (catering, tourism and others). Once began, the recession develops by its own rules — a sharp fall in the world trade, fixed capital formation, growth of budget deficits, and particularly strong impact on developing countries most dependent on tourism and financial assistance.

Keywords: pandemic; coronavirus; COVID-19; business cycle; social inequality; personal consumption; capital formation; finance (search for similar items in EconPapers)
JEL-codes: A14 D11 F02 (search for similar items in EconPapers)
Date: 2020
New Economics Papers: this item is included in nep-ene
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Published in Voprosy Ekonomiki 5 (2020): pp. 5-24

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:102626

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