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The Impact of COVID-19 Pandemic on the Economic Security of Russia and European Countries

Author

Listed:
  • Bartosz Kozicki
  • Marcin Gornikiewicz
  • Marzena Walkowiak

Abstract

Purpose: The study investigates the impact of the COVID-19 pandemic on Russia and European countries' economic security. Design/Methodology/Approach: The research began with a multifaceted analysis of oil prices before and after the COVID-19 pandemic declaration. It then examined oil demand and air passenger volumes in European countries to impact world oil prices. Findings: The article deals with issues related to oil prices, passenger air transport, multivariate analyzes, and economic security. Practical Implications: Categorized line and bar charts and indicators of dynamics on a fixed base were applied to analyze economic security better. This article focuses on European countries, while the core matter of oil prices is its demand and the number of passengers transported by air in European countries. Originality: The lack of analyzes in the literature related to the impact of the COVID-19 pandemic in Russia and European countries' economic security.

Suggested Citation

  • Bartosz Kozicki & Marcin Gornikiewicz & Marzena Walkowiak, 2020. "The Impact of COVID-19 Pandemic on the Economic Security of Russia and European Countries," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 3), pages 324-338.
    • Handle: RePEc:ers:journl:v:xxiii:y:2020:i:special3:p:324-338
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    Citations

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    Cited by:

    1. Joanna Brzyska & Izabela Szamrej-Baran, 2021. "Classification of the EU Countries According to the Vulnerability of their Economies to the Impact of COVID-19 Pandemic," European Research Studies Journal, European Research Studies Journal, vol. 0(2B), pages 967-978.
    2. Artur Pazdzior & Marta Sokol & Aleksandra Styk, 2021. "The Impact of the COVID-19 Pandemic on the Economic and Financial Situation of the Micro and Small Enterprises from the Construction and Development Industry in Poland," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 2), pages 751-762.
    3. Sergei N. Mityakov & Evgenii S. Mityakov & Andrey I. Ladynin & Ekaterina A. Nazarova, 2023. "Country Economic Security Monitoring Rapid Indicators System," Economies, MDPI, vol. 11(8), pages 1-19, August.
    4. Greg Simons, 2021. "A Critical Review of Mass Media and Non-Academic Reports Forecasts of the Economic Effects of COVID-19 within the Frame of Crisis Management," Studies on Russian Economic Development, Springer, vol. 32(4), pages 351-356, July.

    More about this item

    Keywords

    Crude oil prices; passenger air transport; multivariate analyzes; economic security.;
    All these keywords.

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications
    • E64 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Incomes Policy; Price Policy

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