Issue № 81. August 2020

New Challenges: Comparative Analysis of International Reactive Anti-Crisis Measures in Response to COVID-19

Alla Z. Bobyleva — DSc (Economics), Professor, Head of Department of Financial Management, School of Public Administration, Lomonosov Moscow State University, Moscow, Russian Federation.
E-mail: bobyleva@spa.msu.ru

Valeriy M. Anshin — DSc (Economics), Professor, Head of Department of Projects Management, Higher School of Economics, Moscow, Russian Federation.
E-mail: vanshin@hse.ru 

Andrei V. Ptitsyn — PhD, Deputy Director, Ltd. “Kamera Biay”, Moscow, Russian Federation.
E-mail: andrei.ptitsyn@gmail.com

The article identifies the types of global recessions over the period of their regular observation (since 1850), classifies the factors that caused them, describes the features of economic shocks that accompanied previous pandemics, and the features of the 2020 recession associated with the COVID-19 pandemic. An analytical review of typical measures and features of individual countries actions to overcome the coronavirus and mitigate its economic consequences allowed the authors to identify problems common to all countries and specific challenges for individual groups of countries, to assess the available forecasts for countries to exit the recession. Consideration of Russian plans to overcome COVID-19 and support the economy made it possible to conclude that in 2020 the vector of support chosen by the Russian government coincides with the directions of support in most other countries, while in past crises Russia chose its own way. Nevertheless, the article shows that the costs of direct support to the population and the most affected activities in Russia are less than in a number of other countries, for example, members of the G20 group. A number of factors considered indicate that there are no prerequisites for rapid recovery growth in Russia. However, post-crisis recovery depends not only on funding opportunities, but also on the availability of a detailed transformation program. A program outlined in the article can become a catalyst for its development.

Keywords

Recession, crisis, pandemic, COVID-19, anti-crisis measures.

DOI: 10.24411/2070-1381-2020-10077