In the section From the Chief Editor
Title of the article The Economy of the Pandemic: A Far Eastern Russian Aspect
Pages 7-22
Author Pavel Aleksandrovich Minakir
Academician RAS, Doctor of Economics, Professor, Research Supervisor
Economic Research Institute FEB RAS
153 Tikhookeanskaya St., Khabarovsk, 680042, Russian Federation
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ORCID: 0000-0002-5451-5662
Abstract The article presents continuation of analysis of national and international aspects in assessment of economic after-effects of a new corona virus pandemic. It analyzes the finance and economy performance for 11 months of 2020 with a stress on specific economic situation in the Far Eastern Federal Okrug (FEFO, district). It regards a basic difference in the pandemic situation between overall Russia and its Far East. The author notes that the macro region demonstrates a tighter balance between the load and the available reserves in primary health care (medical and social) as compared to Russia overall. Estimated and assessed are economic losses related to the pandemic in the key structural segments of the Far Eastern Russia economy (industry, budgets, foreign trade, labour market, construction). Variance of program indicators is considered. The following most meaningful lines of the pandemic influence on the Far East economy have been identified: curtailing output and revenue from a stop-over or even exit from the market; scaling-down production after a fall in demand; decreasing value of exports with closing borders; falling foreign market demand and falling mineral resource extraction; an upswing rise in prices caused by shrinking imports; a growing shortage of manpower from closed borders; growing expenses and decreasing tax revenues for regional budgets. Three larger FEFO economy sectors are described as to their losses from the pandemic: the bigger sector (almost 2/3 of the entire economy) is formed by the types of economic activity that have lost and are still losing revenue and those that have reduced turnover following the shrinking demand; 13% of the economy have suffered from a spring lock-down; approximately 20% of the economy are either winners or those neutral to the situation
Code 332+338
JEL R10, I38, H50
DOI https://dx.doi.org/10.14530/se.2020.4.007-022
Keywords pandemic ♦ finance performance ♦ stagnation ♦ types of economic activity ♦ Far East Russia
Download SE.2020.4.007-022.Minakir.pdf
For citation Minakir P.A. The Economy of the Pandemic: A Far Eastern Russian Aspect. Prostranstvennaya Ekonomika = Spatial Economics, 2020, vol. 16, no. 4, pp. 7–22. https://dx.doi.org/10.14530/se.2020.4.007-022 (In Russian)
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Submitted 30.11.2020
Revised 07.12.2020
Published online 25.12.2020

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