Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2022.2142807
The COVID-19 pandemic and main economic convergence indicators in the EU
Madalina Ecaterina Popescu
Amalia Cristescu
Ramona-Mihaela Paun
Sažetak
The outbreak of COVID-19 pandemic caused an unprecedented
global public health crisis, which led to a drastic decline in economic
activity and sharp rises in government deficits and public
debts. Our research aims to analyse the aggregated impact of
COVID-19 pandemic on each EU country and their health systems
and correlate it with the main economic convergence indicators
for 2020. To this purpose, we built a composite COVID index using
Principal Component Analysis, employed TOPSIS to rank the EU
countries according to nominal and real convergence indicators,
and correlate the index with each ranking. Our findings suggest
that in the first year of the pandemic, nominal convergence indicators
were more affected than real convergence indicators. Noneuro
CEE countries managed to keep some of their convergence
indicators at relatively sustainable levels despite having high COVID
index values. Baltic and Scandinavian countries seem to have outperformed
the others, the latter having an initially more relaxed
approach to the restrictions imposed on the population. The risk of
diverging during the pandemic crisis appears to be increasing in
countries where there were imbalances prior to 2020.
Ključne riječi
COVID-19 pandemic; Principal Component Analysis; composite index; nominal convergence; real convergence
Hrčak ID:
306779
URI
Datum izdavanja:
30.4.2023.
Posjeta: 158 *