The Ability of Selected European Countries to Face the Impending Economic Crisis Caused by COVID-19 in the Context of the Global Economic Crisis of 2008

Oravský, Róbert; Tóth, Péter; Bánociová, Anna

doi:10.3390/jrfm13080179

Cited by 27 publications

(14 citation statements)

References 33 publications

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“…Liu D. et al (2020) evaluated China's resilience in fighting against COVID-19 though a time-frequency analysis, and they suggested that China might be better positioned than other emerging economies to fight against COVID-19. Referring to the fiscal measures that were taken during the 2008 crisis, Oravsky et al (2020) divided the European countries into four parts, and they selected significant indicators though a linear panel regression to evaluate the degrees that the pandemic influenced the indicators in the selected European countries, which presented the economic risks caused by COVID-19 clearly.…”

Section: The Economic Assessments During Covid-19mentioning

confidence: 99%

The research on COVID-19 and economy from 2019 to 2020: analysis from the perspective of bibliometrics

Liu

Škare

2021

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Research background: The outbreak and spread of COVID-19 brought disastrous influences to the development of human society, especially the development of economy. Purpose of the article: Considering that knowing about the situations of the existing studies about COVID-19 and economy is not only helpful to understand the research progress and the connections between COVID-19 and economy, but also provides effective suggestions for fighting against COVID-19 and protecting economy, this paper analyzes the existing studies on COVID-19 and economy from the perspective of bibliometrics. Methods: Firstly, the discussion starts from the statistical analysis, in which the basic distributions of the studies on different countries/regions, different publication sources, different publication years, etc., are presented. Then, the paper shows the cooperation situations of the researchers from analyzing the related citation networks, co-citation networks and cooperation networks. Further, the theme analysis of the related studies is presented, in which the related co-occurrence networks are shown, and then the detailed analyses of the studies are introduced. Based on these analyses, the discussions about future research are presented, and finally we draw a conclusion. Findings & value added: The analyses not only present the basic situation on the research about COVID-19 and Economy, but also show the future research trends, which can provide meaningful research expectations.

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Section: The Economic Assessments During Covid-19mentioning

confidence: 99%

The research on COVID-19 and economy from 2019 to 2020: analysis from the perspective of bibliometrics

Liu

Škare

2021

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“…Furthermore, just as other pandemics in the past (e.g., SARS, Spanish influenza, etc.) have had negative economic effects on countries, the current COVID-19 pandemic might cause the beginning of another economic crisis (Oravský et al 2020). In addition, given the long-term nature of insurance, and high level of integration of the global financial system (Chevallier 2020), insurance companies are important long-term investors in global financial markets.…”

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

Financial Stability of European Insurance Companies during the COVID-19 Pandemic

Puławska

2021

JRFM

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The European Insurance and Occupational Pensions Authority suggests that as the coronavirus disease 2019 (COVID-19) pandemic has caused significant disruption to the economy, businesses, and people’s lives, national supervisory authorities should mitigate the pandemic’s impact on the European insurance sector. The functioning of insurance companies is in danger as they must balance a drastic increase in the number of claims with their capital and solvency stability. In this study, we evaluate the effects of the COVID-19 pandemic on insurance companies using European insurance companies’ financial statement data from 2010 to 2020. The results unambiguously demonstrate that the pandemic has negatively affected the functioning of the insurance sector. In particular, the return on assets decreased in German and Italian insurance companies during the pandemic. Furthermore, the solvency ratio decreased in the Belgian, French, and German insurance sectors. Conversely, the Polish insurance sector was unaffected. Moreover, we did not find any effects on the Z-score ratio in our sample. Lastly, the value of receivables owed to Belgian insurance companies increased. Based on this evidence, we argue that European legislators should discuss how to manage the probable financial problems of insurance companies during the COVID-19 pandemic.

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“…Oravsky et al [16] seeks to establish appropriate policies to eliminate the negative effects of the current recession on economic growth using a linear panel regression model by focusing on the impact of the selected indicators on national income of European countries. European countries are classified according to the measures they took in the financial consolidation of the 2008 economic crisis.…”

Section: Literature Reviewmentioning

confidence: 99%

The Analysis of the Effect of Covid 19 on Macroeconomic Indicators via MDS and Clustering Methods

Koç

Kutlar

Gülmez

et al. 2021

Preprint

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BackgroundCovid 19, which emerged in China in December 2019 and affected the whole world in a short period, caused serious contractions in the world economy. Analyzing these effects is important in terms of reducing economic losses and measuring the effectiveness of the measures taken.MethodsThe aim of this study, covering the period 2019: q1- 2020q3 is to is to analyze the volatility in macroeconomic indicators caused by the pandemic process, taking into account the % changes in macroeconomic indicators and whether OECD countries show similar tendencies in terms of volatilities during the pandemic process. The period 2019: q1-2019: q3 represents the pre-pandemic period, while the period 2019: q4-2020: q3 represents the pandemic process. By using cluster analysis and multidimensional scaling analysis, countries that have similar characteristics in terms of the change in macroeconomic indicators for each period were grouped, and it was investigated whether this grouping changed during the pandemic process. Clustering and multidimensional scaling analysis are the most appropriate methods for the purpose of the study. Exports, imports, inflation, unemployment, private consumption and economic growth are macroeconomic indicators used in the model. ResultsAccording to the results of the analysis, although most OECD countries showed similar characteristics in terms of economic impact before the pandemic, countries such as Turkey, Iceland, Ireland, New Zealand and Mexico differ significantly from other countries in terms of economic impact during the pandemic process. The separation in question continues throughout the period discussed for Turkey. In addition, it was concluded that Spain, Britain, Mexico and Colombia suffered the most economic losses due to COVID-19 in the second quarter of 2020, when the pandemic was felt the most. ConclusionThe economic variable that has seen the most contraction is the volume of foreign trade. Unemployment rates have increased more slowly in countries where employment is sought to protect with employment packages, while unemployment rates have increased more in other countries. The contraction in the volume of production and consumption also negatively affected economic growth. Differences in economic impact have diversified the cluster between countries.

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The Ability of Selected European Countries to Face the Impending Economic Crisis Caused by COVID-19 in the Context of the Global Economic Crisis of 2008

Cited by 27 publications

References 33 publications

The research on COVID-19 and economy from 2019 to 2020: analysis from the perspective of bibliometrics

The research on COVID-19 and economy from 2019 to 2020: analysis from the perspective of bibliometrics

Financial Stability of European Insurance Companies during the COVID-19 Pandemic

The Analysis of the Effect of Covid 19 on Macroeconomic Indicators via MDS and Clustering Methods

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