IDEAS home Printed from https://ideas.repec.org/a/ovi/oviste/vxxy2020i1p105-112.html
   My bibliography  Save this article

Assessments on the Effects of the Coronavirus Pandemic on the Economies of the Central and South-East European Union Countries

Author

Listed:
  • Tiberiu Cristian Avrămescu

    (University of Pitești)

Abstract

The infectious diseases can easily cross state borders and threaten the economic stability nationally, regionally or globally, as demonstrated by HIV, SARS or the flu epidemics H1N1 and H5N1. However, forecasts show that COVID 19 will have a much more destructive impact on the economy than any other virus of the modern period. We analyzed the main consequences of the pandemic in the European Union countries of Central and South-Eastern Europe. A severe recession is expected in all these countries, since most of them have vulnerabilities due to either high budget deficits and negative current account balances or dependency on certain economic sectors.

Suggested Citation

  • Tiberiu Cristian Avrămescu, 2020. "Assessments on the Effects of the Coronavirus Pandemic on the Economies of the Central and South-East European Union Countries," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 105-112, August.
    • Handle: RePEc:ovi:oviste:v:xx:y:2020:i:1:p:105-112
    as

    Download full text from publisher

    File URL: http://stec.univ-ovidius.ro/html/anale/RO/2020/Section%202/1.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Warwick McKibbin & Roshen Fernando, 2021. "The Global Macroeconomic Impacts of COVID-19: Seven Scenarios," Asian Economic Papers, MIT Press, vol. 20(2), pages 1-30, Summer.
    2. Cuddington, John T, 1993. "Further Results on the Macroeconomic Effects of AIDS: The Dualistic, Labor-Surplus Economy," The World Bank Economic Review, World Bank, vol. 7(3), pages 403-417, September.
    3. Oscar Jorda & Sanjay R. Singh & Alan M. Taylor, 2022. "Longer-Run Economic Consequences of Pandemics," The Review of Economics and Statistics, MIT Press, vol. 104(1), pages 166-175, March.
    4. Keogh-Brown, Marcus Richard & Smith, Richard David, 2008. "The economic impact of SARS: How does the reality match the predictions?," Health Policy, Elsevier, vol. 88(1), pages 110-120, October.
    5. Jong-Wha Lee & Warwick J. McKibbin, 2004. "Globalization and Disease: The Case of SARS," Asian Economic Papers, MIT Press, vol. 3(1), pages 113-131.
    6. Lars Jonung & Werner Roeger, 2006. "The macroeconomic effects of a pandemic in Europe - A model-based assessment," European Economy - Economic Papers 2008 - 2015 251, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    7. Verikios, George & Sullivan, Maura & Stojanovski, Pane & Giesecke, James & Woo, Gordon, 2011. "The Global Economic Effects of Pandemic Influenza," Conference papers 332033, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    8. Ji Chou & Nai-Fong Kuo & Su-Ling Peng, 2004. "Potential Impacts of the SARS Outbreak on Taiwan's Economy," Asian Economic Papers, MIT Press, vol. 3(1), pages 84-99.
    9. Marcus R. Keogh‐Brown & Simon Wren‐Lewis & W. John Edmunds & Philippe Beutels & Richard D. Smith, 2010. "The possible macroeconomic impact on the UK of an influenza pandemic," Health Economics, John Wiley & Sons, Ltd., vol. 19(11), pages 1345-1360, November.
    10. Cuddington, John T. & Hancock, John D. & Rogers, Carol Ann, 1994. "A dynamic aggregative model of the AIDS epidemic with possible policy interventions," Journal of Policy Modeling, Elsevier, vol. 16(5), pages 473-496, October.
    11. Warwick McKibbin & Alexandra Sidorenko, 2006. "Global Macroeconomic Consequences of Pandemic Influenza," CAMA Working Papers 2006-26, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. George Verikios & Maura Sullivan & Pane Stojanovski & James Giesecke & Gordon Woo, 2016. "Assessing Regional Risks From Pandemic Influenza: A Scenario Analysis," The World Economy, Wiley Blackwell, vol. 39(8), pages 1225-1255, August.
    2. Tiberiu Cristian Avramescu, 2020. "Assessments Onthe Effects Of The Coronavirus Pandemic On The Romanian Economy," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 3, pages 57-64, June.
    3. Verikios, George, 2017. "The Importance of Periodicity in Modelling Infectious Disease Outbreaks," Conference papers 332907, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    4. Pham, Tien Duc & Dwyer, Larry & Su, Jen-Je & Ngo, Tramy, 2021. "COVID-19 impacts of inbound tourism on Australian economy," Annals of Tourism Research, Elsevier, vol. 88(C).
    5. Cui, Qi & He, Ling & Liu, Yu & Zheng, Yanting & Wei, Wei & Yang, Bo & Zhou, Meifang, 2021. "The impacts of COVID-19 pandemic on China’s transport sectors based on the CGE model coupled with a decomposition analysis approach," Transport Policy, Elsevier, vol. 103(C), pages 103-115.
    6. Smith, Richard D. & Keogh-Brown, Marcus R. & Barnett, Tony, 2011. "Estimating the economic impact of pandemic influenza: An application of the computable general equilibrium model to the UK," Social Science & Medicine, Elsevier, vol. 73(2), pages 235-244, July.
    7. Verikios, George, 2020. "The dynamic effects of infectious disease outbreaks: the case of pandemic influenza and human coronavirus," MPRA Paper 104434, University Library of Munich, Germany.
    8. Marcus R. Keogh‐Brown & Simon Wren‐Lewis & W. John Edmunds & Philippe Beutels & Richard D. Smith, 2010. "The possible macroeconomic impact on the UK of an influenza pandemic," Health Economics, John Wiley & Sons, Ltd., vol. 19(11), pages 1345-1360, November.
    9. Betarelli Junior, Admir Antonio & Faria, Weslem Rodrigues & Proque, Andressa Lemes & Perobelli, Fernando Salgueiro & de Almeida Vale, Vinicius, 2021. "COVID-19, public agglomerations and economic effects: Assessing the recovery time of passenger transport services in Brazil," Transport Policy, Elsevier, vol. 110(C), pages 254-272.
    10. Beirne, John Beirne & Renzhi, Nuobu & Sugandi, Eric Alexander & Volz, Ulrich, 2020. "Financial Market and Capital Flow Dynamics During the COVID-19 Pandemic," ADBI Working Papers 1158, Asian Development Bank Institute.
    11. McKibbin, Warwick & Fernando, Roshen, 2023. "The global economic impacts of the COVID-19 pandemic," Economic Modelling, Elsevier, vol. 129(C).
    12. Sándor Kovács & Mohammad Fazle Rabbi & Domicián Máté, 2021. "Global Food Security, Economic and Health Risk Assessment of the COVID-19 Epidemic," Mathematics, MDPI, vol. 9(19), pages 1-16, September.
    13. Gopal Das & Shailendra Pratap Jain & Durairaj Maheswaran & Rebecca J. Slotegraaf & Raji Srinivasan, 2021. "Pandemics and marketing: insights, impacts, and research opportunities," Journal of the Academy of Marketing Science, Springer, vol. 49(5), pages 835-854, September.
    14. Ngomba Bodi, Francis Ghislain, 2020. "Réflexions sur la crise actuelle de l’économie camerounaise liée au COVID-19 [Thoughts about the costs of the current crisis in the Cameroonian economy linked to COVID-19]," MPRA Paper 116377, University Library of Munich, Germany.
    15. Fang, Guanfu & Feng, Jin, 2021. "Is the 2003 SARS epidemic over? Long-term effects of epidemic exposure on mortality among older adults," China Economic Review, Elsevier, vol. 67(C).
    16. Emmanuel Apergis & Nicholas Apergis, 2021. "The impact of COVID-19 on economic growth: evidence from a Bayesian Panel Vector Autoregressive (BPVAR) model," Applied Economics, Taylor & Francis Journals, vol. 53(58), pages 6739-6751, December.
    17. Joseph H. Cook, 2013. "Principles and standards for benefit–cost analysis of public health preparedness and pandemic mitigation programs," Chapters, in: Scott O. Farrow & Richard Zerbe, Jr. (ed.), Principles and Standards for Benefit–Cost Analysis, chapter 3, pages 110-152, Edward Elgar Publishing.
    18. Verikios, George & Sullivan, Maura & Stojanovski, Pane & Giesecke, James & Woo, Gordon, 2011. "The Global Economic Effects of Pandemic Influenza," Conference papers 332033, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    19. Yothin Jinjarak & Ilan Noy & Quy Ta, 2022. "Pandemics and Economic Growth: Evidence from the 1968 H3N2 Influenza," Economics of Disasters and Climate Change, Springer, vol. 6(1), pages 73-93, March.
    20. Adesoji O. Farayibi & Simplice A. Asongu, 2020. "The Economic Consequences of the Covid-19 Pandemic in Nigeria," Working Papers 20/042, European Xtramile Centre of African Studies (EXCAS).

    More about this item

    Keywords

    coronavirus; pandemic; economic impact; depressions; macroeconomics;
    All these keywords.

    JEL classification:

    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ovi:oviste:v:xx:y:2020:i:1:p:105-112. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Gheorghiu Gabriela (email available below). General contact details of provider: https://edirc.repec.org/data/feoviro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.