The COVID-19 pandemic as a socio-economic phenomenon

Momot Volodymyr
Doctor of Economics, Professor of Innovative Management and Financial Analytics Department, Alfred Nobel University, Ukraine, e-mail: vmomot@duan.edu.ua, ORCID ID: https://orcid.org/0000-0002-7512-8979

Cite this article:

Momot, V. (2022). The COVID-19 pandemic as a socio-economic phenomenon [Pandemiia COVID-19 yak sotsialno-ekonomichnyi fenomen], Socio-economic research bulletin, Vìsnik socìal’no-ekonomìčnih doslìdžen’ (ISSN 2313-4569), Odessa National Economic University, Odessa, No. 3-4 (82-83), pp. 65-80.

Abstract

The article investigates the problems of the Covid-19 coronavirus pandemic emergence and development in the world during the first half of 2020 as a complex socio-economic phenomenon that depends on rational (economic) and irrational (social-psychological) factors, which are manifested at the level of individual countries. The phenomenological SEI/SEIR/SQEIRmodel of the pandemic spread was used was used to reproduce the effects of epidemic hill – the initial stage the emergence of a pandemic. Several hypotheses regarding the relationship between socio-cultural values of countries, indices related to indicators of economic development of countries and dynamic characteristics of the pandemic development at the initial stage were formulated. It was concluded that there is a significant positive relationship between the ease of doing business and the speed characteristics of initial stage of the pandemic. Based on mathematical modeling, it is shown that economic factors are influential from the point of view of the disease spread, at a time when sanitary and medical measures play a secondary role. A positive significant relationship was identified between the reproduction of the coronavirus and ease of doing business for the poorest countries and Europe and Central Asia countries that are not part of the richest countries-leaders of economic development group. The comparison of the dynamic effects of complex quantitative parameter influence, which characterizes the intensity of economic activity on SARS-CoV-2 coronavirus pandemic development over the entire period of its spread and leads to the conclusion that the countries distribution by income level is a more effective grouping factor than the geographic factor. It has been proven that the grouping of countries by certain characteristics, such as belonging to the property level, which characterizes the proximity of economic development scenarios, or geographical proximity, which in most cases is evidence of the proximity of the socio-cultural code, allows revealing any regularity regarding socio-economic effects of the pandemic. The effects of attachment to such values as independence, responsibility, tolerance, determination and perseverance, respect for the authority, and the degree of life satisfaction on the intensity of coronavirus spread are analyzed. It was concluded that there is no significant difference in the parameters of the coronavirus spread in countries, where fundamentally different policy in the field of quarantine restrictions were used in the initial stages of the pandemic. Proposals regarding directions for further research, which consist in the analysis of the effects that mark the stage of pandemic elimination in the world, are formulated.

Keywords

COVID-19 pandemic; epidemic hill; epidemiological SEI/SEIR/SQEIR-models; phenomenological modeling; incidence of the disease; ease of doing business index; poverty index; Inglehart European/World Values Survey (EVS/WVS); correlation analysis; cluster analysis.

JEL classification:C120; C730; E710; DOI: https://doi.org/10.33987/vsed.3-4(82-83).2022.65-80

UD classification: 338.1:330.3:330.4

This work is licensed under a Creative Commons Attribution 4.0 International License. To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/

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