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Liburkina L. M.

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The World Economic Crisis and Pandemic of COVID-19 and Their Lessons for the Governments of the States
Orlov P. A.

Orlov, Peter A. (2020) “The World Economic Crisis and Pandemic of COVID-19 and Their Lessons for the Governments of the States.” Business Inform 6:30–40.
https://doi.org/10.32983/2222-4459-2020-6-30-40

Section: Globalization Processes in the Economy

Article is written in Ukrainian
Downloads/views: 12

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UDC 005.351/354

Abstract:
The world financial crisis began in the USA in 2007 due to the social irresponsibility of banks and other actors of financial market. In 2008, it outgrew in a world economic crisis. For many countries, including some EU countries, the crisis also proceeds in 2020, sharply enhancing the instability of the external management systems of companies and the competition. With December 2019 the pandemic of COVID-19 has begun, that substantially strengthened the negative consequences of the global economic crisis in countries. The article is aimed at a further development of the author’s own conception regarding the social responsibility of enterprises of all types of activity and all forms of ownership in the modern circumstances. It is expressed in providing of comfort, safe terms of labor and decent payment of the staff, development of social infrastructure, in prevention of avoiding the tax payment, in providing the proper security to environment, and also in the use of the socially responsible marketing (SRM). The author’s own approaches to the estimation of competitiveness of the socially irresponsible enterprises are provided. The competitiveness of products both in the short-term and in the long-term period can be erroneous, achieved due to social irresponsibility of enterprise and its marketing. For a bright illustration one can refer to the scandal around the German automotive company «Volkswagen», known as «Dieselgate». Also the criteria of efficiency of the economic system of Ukraine and other countries are substantiated. The author believes that the UNO has estimated the potential socio-economic consequences of not only pandemic of COVID-19 but also the world economic crisis that proceeds for most countries. These consequences in a great deal coincide and it is not possible to divide them.

Keywords: world economic crisis, pandemic of COVID-19, economic system of the country, efficient management, social responsibility of enterprises, competitiveness of enterprises.

Bibl.: 32.

Orlov Peter A. – Doctor of Sciences (Economics), Professor, Head of the Department, Department of Economics and Marketing, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkiv, 61166, Ukraine)
Email: [email protected]

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