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Падение В Мировую Рецессию 2020…
[The fall into 2020 recession..]

Author

Listed:
  • Grigoryev, Leonid
  • Pavlyushina, Victoria
  • Muzychenko, Evgeniya

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.

Suggested Citation

  • Grigoryev, Leonid & Pavlyushina, Victoria & Muzychenko, Evgeniya, 2020. "Падение В Мировую Рецессию 2020… [The fall into 2020 recession..]," MPRA Paper 102626, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:102626
    as

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    File URL: https://mpra.ub.uni-muenchen.de/102626/1/MPRA_paper_102626.pdf
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    References listed on IDEAS

    as
    1. Carmen M. Reinhart & Kenneth S. Rogoff, 2014. "Recovery from Financial Crises: Evidence from 100 Episodes," American Economic Review, American Economic Association, vol. 104(5), pages 50-55, May.
    2. Leonid M. Grigoryev, 2020. "Global social drama of pandemic and recession," Population and Economics, ARPHA Platform, vol. 4(2), pages 18-25, April.
    3. L. Grigoriev & A. Ivashchenko., 2010. "The Theory of Cycle under the Crisis Blow," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 10.
    4. Ben S. Bernanke, 2010. "Causes of the recent financial and economic crisis: testimony before the Financial Crisis Inquiry Commission, September 2, 2010," Web Site 101, Board of Governors of the Federal Reserve System (U.S.).
    5. L. M. Grigoryev & V. A. Pavlyushina., 2018. "Inter-country inequality as a dynamic process and the problem of post-industrial development," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 7.
    6. Grigoryev, Leonid & Makarova, Ekaterina, 2019. "Норма Накопления И Экономический Рост: Сдвиги После Великой Рецессии [Capital accumulation and economic growth after the Great Recession]," MPRA Paper 102524, University Library of Munich, Germany.
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    More about this item

    Keywords

    pandemic; coronavirus; COVID-19; business cycle; social inequality; personal consumption; capital formation; finance;
    All these keywords.

    JEL classification:

    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • F02 - International Economics - - General - - - International Economic Order and Integration

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