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
This email address is being protected from spambots. You need JavaScript enabled to view it.
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)
References 1. Auzan A.A. The Economy under the Pandemic and Afterwards. Population and Economic, 2020, vol. 4, issue 2, pp. 4–12. https://doi.org/10.3897/popecon.4.e53403
2. Brent Oil. InvestFunds, 2020. Available at: https://investfunds.ru/indexes/624/ (accessed December 2020). (In Russian).
3. Grigoryev L.M. Global Social Drama of Pandemic and Recession. Population and Economics, 2020, vol. 4, issue 2, pp. 18–25. https://doi.org/10.3897/popecon.4.e53325
4. Kuriukin A.N. COVID-19 as a Challenge to the Economics, Society and Politics. MIR (Modernizatsiya. Innovatsii. Razvitie) = MIR (Modernization. Innovation. Research), 2020, vol. 11, no. 3, pp. 250–265. https://doi.org/10.18184/2079-4665.2020.11.3.250-265 (In Russian).
5. Map of the Spread of Coronavirus in Russia and the World. 2020. Available at: https://yandex.ru/web-maps/covid19?ll=102.800291%2C53.914915&z=2.6 (accessed De-cember 2020). (In Russian).
6. Minakir P.A. Pandemic Economy: The Russian Way. Prostranstvennaya Ekonomika = Spatial Economics, 2020, vol. 16, no. 2, pp. 7–18. https://dx.doi.org/10.14530/se.2020.2.007-018 (In Russian).
7. On Determining the Need to Attract Foreign Workers, Arriving in the Russian Federation Based on a Visa, Including for Priority Professional Qualification Groups, and Approving Quotas for 2020: Decree of the Government of the Russian Federation No. 1579 of December 03, 2019. Available at: https://na.buhgalteria.ru/document/n177516 (accessed November 2020). (In Russian).
8. Prokapalo M.N., Bardal A.B., Isaev A.G., Mazitova M.G., Suslov D.V. Economic Situation in the Far Eastern Federal District in 2019. Prostranstvennaya Ekonomika = Spatial Economics, 2020, no. 2, pp. 142–184. https://dx.doi.org/10.14530/se.2020.2.142-184 (In Russian).
9. Russian Ruble Exchange Rate. banki.ru, 2020. Available at: https://www.banki.ru/products/currency/rub/ (accessed December 2020). (In Russian).
10. Statistics. National Welfare Fund, 2020. Available at: https://minfin.gov.ru/ru/perfomance/nationalwealthfund/statistics/?id_65=27068-obem_fonda_natsionalnogo_blagosostoyaniya (accessed November 2020). (In Russian).
Submitted 30.11.2020
Revised 07.12.2020
Published online 25.12.2020

ISSN (Print) 1815-9834
ISSN (Online) 2587-5957

Minakir Pavel Aleksandrovich,

Journal’s Founder

 

Artem Isaev
Editor-in-Chief
Tel.: +7 (4212) 725-225
Fax: +7 (4212) 225-916
e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Samokhina Lyudmila
Executive Editor
Tel.: +7 (4212) 725-230
e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Editors
Tel.: +7 (4212) 725-230
e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

 
To Editorial Staff of “Spatial Economics”
Economic Research Institute FEB RAS
153 Tikhookeanskaya St., Khabarovsk, RUSSIA, 680042

 

 

Creative Commons License
Unless otherwise noted, content on this site is licensed under a Creative Commons Attribution 4.0 International License