Policy measures for economic resilience of Visegrad Group and Ukraine during the pandemic
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DOIhttp://dx.doi.org/10.21511/ppm.20(2).2022.07
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Article InfoVolume 20 2022, Issue #2, pp. 71-83
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The COVID-19 pandemic has posed unprecedented healthcare and economic resilience challenges for the world. This study systematizes the policy measures taken by the Visegrad Group and Ukraine to support national economies in response to the pandemic. The paper is based on a grouping method to systematize the policy measures, and a tabular method to present the results of the policy measures classification. Following systematization results, the policy measures for ensuring the economic resilience under the pandemic are classified as quarantine and compensatory measures. Additionally, quarantine measures were classified into prohibitions, restrictions, and recommendations. Compensatory measures were classified by the type of policy and grouped according to the global dimension in periodization of the COVID-19 waves. The analysis of quarantine measures in Ukraine and Visegrad Group also shows that prohibitions had been used most frequently and for the longest time in Ukraine, particularly they included school closures, public transport closing, and restrictions on internal movement. Meanwhile, fiscal, macroprudential, and microprudential measures prevailed among the compensatory measures. Simultaneously, 38% of all fiscal measures were direct grants to households and enterprises. The largest number of various measures (78) were implemented in Poland, linking quarantine and compensatory measures. The least compensatory measures were implemented in Ukraine (19) and Slovakia (15). Overall, policy measures helped to avoid a worse scenario of pandemic impact but did not help to overcome the effects of the pandemic fully.
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JEL Classification (Paper profile tab)E02, E60, H50
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References30
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Tables4
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Figures1
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- Figure 1. GDP and GSI of Ukraine, Poland, Czech Republic, Hungary, and Slovakia
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- Table 1. Timeline dashboard of quarantine measures for Ukraine and Visegrad Group countries, March 2020–November 2021
- Table 2. Quarantine measures duration in Ukraine and Visegrad Group countries, days (March 2020–November 2021)
- Table 3. Compensatory measures in response to COVID-19 crisis with economic resilience relevance
- Table 4. Compensatory measures for Ukraine and Visegrad Group countries classified according to the type of policy and systematized by the periodization of the COVID-19 waves
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