Economic policy towards the challenges of the COVID-19 pandemic in selected European Union countries

Żak, Martyna; Garncarz, Jakub

doi:10.15678/ier.2020.0604.02

Cited by 15 publications

(14 citation statements)

References 10 publications

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“…Our sample of business decisions justifies this projection. At the same time, our finding that Covid-19 Covid-19 and transformational megatrends in the European automotive industry… | 29 induced temporary production decisions and other decisions, affecting the labour force is in line with the findings of Betti & Hong (2020) or Żak & Garncarz (2020).…”

Section: Business Announcements and Covid-19 With A Cee Focussupporting

confidence: 89%

Covid-19 and transformational megatrends in the European automotive industry: Evidence from business decisions with a Central and Eastern European focus

Pelle¹,

Tabajdi²

2021

EBER

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The objective of the article is to reveal the effects of the Covid-19 pandemic on the businesses in the European automotive sector, with a special focus on Central and Eastern Europe. The further objective is to identify how these effects relate to the ongoing transformational megatrends in the sector (digitalisation, electrification). Research Design & Methods:We have collected a large (>700 items) sample of relevant business decisions in the European automotive sector over four years (2017)(2018)(2019)(2020)(2021), including those taken especially due to the Covid-19 pandemic. In our research, we transformed our qualitative inputs into a quantitatively analysable database through coding. Then, we applied descriptive statistical analysis on the retrieved data combined with qualitative analysis of the contents behind these data. Findings: Based on our sample, our primary finding is that the Covid-19 pandemic does trigger the already existing trends of digitalisation and electrification in the European automotive sector. Very similar effects characterise the relatively less developed but deeply integrated Central and Eastern European periphery, although to a lesser extent. Obviously, the Covid-19 pandemic has induced numerous temporary business decisions, mainly plant closures. Layoffs occurred as well but these were not prevalent. Then, the second wave of the pandemic in early 2021 brought about the global shortage of semiconductor chips, which substantially affected the sector in Europe. Implications & Recommendations:The longer lasting impact of the short-term pandemic-related European automotive business decisions is yet to be explored. Nevertheless, the global shortage of semiconductor chips is already showing signs of influencing the industry over a longer time scale, in Europe as well. Forward-looking, future-oriented, and brave responses to the pandemic can well be the keys for businesses to successfully overcome the negative effects of the Covid-19 pandemic. Contribution & Value Added: Our sample of more than 700 items and a four-year-long timespan is in itself a unique collection of business decisions in the European automotive sector. In addition, by processing the inputs through coding, our sample becomes a treasury of potential information. In this article, we conduct an exploration along the events to which the decisions can be related, and along the decision types. We also look at the involvement of Central and Eastern Europe. Obviously, our ongoing primary research was ready to be extended to the firm level analysis of the effects of the Covid-19 pandemic, immediately upon its outburst.

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Section: Business Announcements and Covid-19 With A Cee Focussupporting

confidence: 89%

Covid-19 and transformational megatrends in the European automotive industry: Evidence from business decisions with a Central and Eastern European focus

Pelle¹,

Tabajdi²

2021

EBER

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“…Undoubtedly, the impact of the pandemic on the economy will be very significant, considering the scale of the epidemic and the vulnerability of the economy (Korzeb & Niedziółka, 2020). In the corporate sector, the most vulnerable are small businesses, which due to limited financial resources, are least likely to survive the crisis (Leiva-Leon et al, 2020;Żak & Garncarz, 2020). Some economists hoped the effect would be limited mainly to China, but this did not happen.…”

Section: Literature Reviewmentioning

confidence: 99%

Consolidation strategies of small family firms in Poland during Covid-19 crisis

Marjański¹,

Sułkowski²

2021

EBER

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The objective of the article is to contribute to research into family businesses by understanding how small family businesses are responding and adapting to the Covid-19 crisis. Research Design & Methods:The research method is based on a comparative analysis of case studies. To investigate the impact of Covid-19 on small family businesses in Poland, we conducted exploratory studies in 12 entities, based on 29 partially structured interviews with managers of these companies. Findings: The sudden spread of the Covid-19 pandemic around the world took many lives and caused severe restrictions in social and private life, including the business sector. While almost every firm has been affected by the pandemic crisis, small businesses, dominated by family businesses, are particularly vulnerable to it. Our findings show that the Covid-19 crisis affects all companies and presents a completely new challenge that has so far had no precedent. Small family businesses are not prepared for the prolonged state of uncertainty and tension threatening the continuity of their operations, which particularly endangers financial stability and employee maintenance. In responding to the crisis, small family firms cannot refer to previous experience or developed methods and patterns of operation. Implications & Recommendations: Small family businesses must quickly adapt their operations to changing conditions, regardless of their size and industry in which they operate. Covid-19 in small family businesses causes changes in their approach to running the business and family life. Contribution & Value Added: According to our knowledge, this is the first empirical study in Poland on the impact of Covid-19 on small family businesses. Article type:research article

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“…This would show the actual effectiveness of energy policy and orientate towards building competitive advantage of countries based on clean technologies. The Covid-19 pandemic impacted many aspects of social and economic life [76][77][78][79][80], included the energy policy. Until the Covid-19 pandemic outbreak, industrial emissions had the highest decrease, but aviation emissions had increased [57].…”

Section: Suggestions For Further Studiesmentioning

confidence: 99%

Europeanization Processes of the EU Energy Policy in Visegrad Countries in the Years 2005–2018

et al. 2021

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Energy issues are sensitive for the four Visegrad countries as European Union (EU) member states; thus, this area’s convergence might be problematic for these countries. There is a clear research gap concerning the processes of Europeanization of the energy policy in the Visegrad countries. This article aims to identify and evaluate the progress of four Visegrad countries (V4) in implementing the EU energy goals in the context of the Europeanization. The article uses three main methods: Hellwig’s method, Kendall’s rank concordance coefficient, and k-means clustering. These calculations will allow one to study the Europeanization processes, which means checking the gamma convergence. For calculations, we use the available statistical data from Eurostat for the years 2005–2018. Poland and other Central European countries, including Czechia, and Hungary, largely depend on coal for their energy needs. The empirical results have shown that there have been no significant changes in the classification of EU countries in terms of their fulfillment of the EU climate and energy targets in the analyzed period. This is the case in all EU member states, including the Visegrad Group countries, but except for Poland. This means that the level of Europeanization of the energy policy and its effectiveness is similar in all member states except for Poland, which is becoming a kind of the exception. Throughout the investigating period, the Czech Republic, Hungary, and Slovakia were close to meeting the set targets and could be rated high compared to the EU countries. Poland, especially since 2015, has been noticeably and increasingly distanced from the other V4 countries. It can be perceived as a gradual drift away from Europeanization of the EU climate and energy policy in Poland.

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Economic policy towards the challenges of the COVID-19 pandemic in selected European Union countries

Cited by 15 publications

References 10 publications

Covid-19 and transformational megatrends in the European automotive industry: Evidence from business decisions with a Central and Eastern European focus

Covid-19 and transformational megatrends in the European automotive industry: Evidence from business decisions with a Central and Eastern European focus

Consolidation strategies of small family firms in Poland during Covid-19 crisis

Europeanization Processes of the EU Energy Policy in Visegrad Countries in the Years 2005–2018

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