ASSESSMENT OF THE IMPACT OF COVID-19 ON ECONOMY BASED ON THE “ECONOMIC CROSS” MODEL

• Published in: Vestnik Volgogradskogo gosudarstvennogo universiteta. Serii͡a︡ 3, Ėkonomika, pravo Vol. 22; no. 4
• Main Authors: Repkina, Olga B, Timokhin, Dmitriy V
• Format: Journal Article
• Language: Russian
• Published: Volgograd Volgograd State University 01.01.2020
• Subjects: Coronaviruses; COVID-19; Economic impact; Economic models; Forecasting; Impact analysis; Pandemics; Russia
• ISSN: 1998-992X; 2408-9478
• DOI: 10.15688/ek.jvolsu.2020.4.3

The article assesses the impact of the global pandemic COVID-19 and its events on the global information space using the “economic cross” model. Quantitative and qualitative economic results of the pandemic impact on economy both in the global and at the national Russian level are considered. The information and economic nature of the impact of the global pandemic on the development of global society is proven. An economic interpretation of the reaction of the global information space and national governments in the early 2020 and subsequent events, including self-isolation and expansion of digital forms of interaction in the information space at all levels of social activity, are proposed. The structure of the points of no return in the development of the global information space and its economic and social projection are investigated and temporary changes are identified, the preservation of which is unlikely after the end of the pandemic. An assessment of the development of the global information space is carried out taking into account pre-existing trends in the medium term and possible deviations in its development are investigated by updating the COVID-19 problem. On the basis of studying the cycles forming the “economic cross” of corononomics, forecasts of the development of the Russian economic system for the medium term are proposed.