Concept paper for Economic System Planning

2020

Before pandemic the world economy had a pre-crisis situation which was characterized by unprecedented imbalances in the global financial and economic system, the lack of growth in world GDP, which posed a real threat to the world economic order. Almost all global analysts predicted a global economic crisis at the end of 2019. For the first time since time immemorial, bank interest rates in all countries have dropped to unprecedented low levels. Often interest rates were 0% or even negative. The EU's financial system has been so disfigured by the VAT tax that fraud with this tax has reached a scale far exceeding hundreds of billions EUR and in fact got out of control of the authorities.

Pandemic economic crisis: essence, reasons, comparative characteristics, opportunities, 2020

Before pandemic the world economy had a pre-crisis situation which was characterized by unprecedented imbalances in the global financial and economic system, the lack of growth in world GDP, which posed a real threat to the world economic order. Almost all global analysts predicted a global economic crisis at the end of 2019. For the first time since time immemorial, bank interest rates in all countries have dropped to unprecedented low levels. Often interest rates were 0% or even negative. The EU’s financial system has been so disfigured by the VAT tax that fraud with this tax has reached a scale far exceeding hundreds of billions EUR and in fact got out of control of the authorities.

2020

In the context of new changes and challenges facing society caused by the COVID-19 pandemic the most important factor in ensuring the sustainable functioning of economic entities is the formation and improvement of crisis management strategies and models. Ensuring the competitiveness and further functioning of economic entities largely depends on the available resource potential, its optimization, diversification and implementation innovation. Due to the changes in the market environment caused by the COVID-19 pandemic the theoretical foundations and methodology of crisis management need to improved and substantially supplemented. The problem is partially solved through the introduction of modern information technologies in the management of economic systems and digitalization, the introduction of resource-saving technologies, optimization of operating costs, the introduction of green economy and socialization of economic processes. Digitization has become an effective tool for opti...

Economic resilience under COVID-19 in the CEMAC zone: Are procyclical adjustments of capital requirements necessary? By Alim BELEK 1a Djimoudjiel DJEKONBE b † & Anatole Toinar MOGOTA c Abstract. This paper analyzes the effects of procyclical regulatory capital adjustments on the ability of CEMAC economies to recover from the COVID-19. To achieve the objective, it uses quarterly data from 2005 to 2020 and Generalized Least Squares estimators as a technique. The results obtained show that the severity of the COVID-19 significantly impacted the economies of the sub-region and their ability to be resilient. Further, the results are robust regardless of the economic resilience indicator considered. Pro-cyclical capital adjustments in the pandemic context have a positive impact on resilience, thereby reducing exposure to economic vulnerabilities. It is advisable to promote countercyclical adjustments of regulatory capital to improve economic resilience. This is regardless the fact that under COVID-19, economic contractions may induce banks to adopt more pro-cyclical behavior in order to reduce the vulnerability of economies.

STRATEGIES XXI - National Defence College

The globalized system brings with it global problems, solvable through solutions applied worldwide, with the involvement of global and regional actors. The COVID-19pandemic that humanity has gone through has led to an integrative process of managerial policies and practices, through which competing states, and not only, that have so far developed on the idea of adversity, have become functionally compatible. This proves that the fundamental advantage at the end of the global pandemic can be determined, which is the ability of organizations to generate models, solutions and directions relevant to overcoming crises.Organizations have had to respond to a sudden, unforeseen crisis, the rapidly changing nature of which shows that organizational readiness depends on the ability to make use of human strengths, such as decision-making and adaptability, not just during a one-time crisis, but on a regular basis. It means constantly cultivating resilience, courage, judgment and flexibility to ...

VUZF Publishing House “St. Grigorii Bogoslov”, 2020

Modern global economic challenges caused by the COVID-19 pandemic and various changes in the structure of the world market of goods and services require the developing of new models of economic systems management based on appropriate strategic management methodology, implementation innovation, use of prospects for various risks caused by the pandemic, implementation mechanisms for ensuring the security of economic systems. Ensuring effective management of economic systems in the current global challenges is impossible without the introduction of a new concept of functioning and sustainable development of economic entities. To ensure effective management of economic systems in the context of modern global challenges it is necessary to determine the state of the economic process of entities and explore the impact of risks on current activities, justify and developing a system to overcome negative effects on economic activity and obtain a positive economic result. The effectiveness of developed conceptual provisions to ensure effective management of economic systems is determined by the ability of the management system to withstand the destructive effects of the external environment and due to the strengths to direct the resources of economic entities to maintain the economic process, able ensure to save resources and cover current costs economic entities, etc.

European Journal of Marketing and Economics, 2020

The COVID-19 pandemic involves the major risk of a severe recession, and of the economic, financial, social, educational crises, which will affect the entire EU economy, with consequences for citizens, businesses, jobs, and households. In order to guarantee the continued availability of sufficient liquidity on the market, to counteract the damage caused to healthy enterprises and to maintain the continuity of economic activity during the epidemic and after the end of the COVID-19 pandemic, it is necessary to develop a plan of measures and solutions. supporting the European economy, both through direct measures of state aid, as well as through measures to support/develop/innovate the business environment through the EU funding programs allocated at the level of the Member States both in the period 2014-2020, but more elected 2021-2027, the effects of the current crisis being both short term, but especially in the medium and long term. Among the objectives pursued we propose: identifi...

Economic Themes

Covid-19 has hit the world intensely. From the medical point of view it seems that we have found the way to fight it, and the new task is to recover the economies. First of all, we need to assess the impact and specify the industries that suffered the most in order to create support packages. It is, as well, crutial to define the engines that are still able to drive the economies towards the recovery. The main aim for economic policy makers should be to flatten the curve of the recession that will occur, no doubts. During this process, it is of highest importance to balance the extent of the support government will provide for the economy. Namely, what we want is to lower the intensity of the impact by prolonging the effects of the crisis, however without increasing the debt too high. Specific action plans have to be created individually, with regards to particular economies and their determinants. For that reason, there is no pattern that policy makers could follow. Having in mind ...

Agriculture in Bulgaria: from European Union accession to the COVID-19 pandemic, 2021

Modern global challenges caused by the COVID-19 pandemic force economic entities to develop and implement new strategies for managing economic systems, and states to form new concepts and visions for the further functioning and development of economic entities and mechanisms for overcoming the consequences of socioeconomic crises. Improvement of modern strategies and mechanisms of anti-crisis management of economic systems and social processes is impossible without the use of scientific approaches and practical tools for optimizing the resource provision of economic entities, the formation various models of public-private partnership, collaboration of various infrastructure entities and the creation of institutional associations. To ensure the effective development and implementation of new concepts, strategies and mechanisms for managing economic systems it is necessary to use modern information technologies and innovations, create competitive advantages by enhancing the resource potential of economic entities, and develop promising and export-oriented sectors of the economy. The purpose of writing this scientific monograph is to substantiate the theoretical and methodological foundations, the formation and improvement of new concepts, strategies for the further functioning of economic systems and the develop of organizational-economic mechanisms to overcome the negative consequences caused by the COVID-19 pandemic taking into account the changes and challenges in the modern world. The object of the authors’ research was the process of forming and improving concepts, strategies and mechanisms for managing economic systems in the context of the COVID-19 pandemic, mitigating negative consequences on the activities of economic entities. The subject of the research was socio-economic, organizational and institutional processes of formation and effective implementation of concepts, strategies and mechanisms for managing economic systems; maintaining the stability of the functioning of economic entities; development of digital technologies; implementation of the best practices for managing economic systems using global experience in various sectors of the economy caused by the COVID-19 pandemic.

Resilience and Economic Intelligence Through Digitalization and Big Data Analytics, 2021

During our road through life, the economy accompanies us, showing us that it cannot be controlled, only understood and, in a way, predictable. This could be applicable for cyclical crisis. But how could we say the same about non-cyclical crises? Did the history show us patterns? Did the history give us predictive instruments? Could we say that we could act predictively, not just correctively upon this kind of crisis, as economists and economic agents who use economics as a component of our life? The actual crisis, the non-cyclical crisis caused by the COVID-19 uncontrollable spreading, showed us, once again, that its kind of crisis cannot be predicted. A non-cyclical crisis, such as the COVID-19 crisis, involves fast and precise corrective instruments, but, paradoxically, also gentle and diffuse corrective instruments. The analysis of the best mix of policies and actions, in the current context, has the potency to exploit the socioeconomic mechanism in its true beauty. On the other hand, predictive instruments cannot be put in place in such a context. Taking into consideration two important hypotheses, this study will seek to identify, propose and debate possible directions for restarting the economy, with a special focus on actions related to human capital. The target of the study will further bring in discussion the potency of socioeconomic actions, in the entire new world mindset, considering especially the actions related to Human Capital. The study will consider the Romanian context, but not separated from international / global / European effects.