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© 2024. This work is published under https://creativecommons.org/licenses/by-nc/4.0/ (the “License”). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License.

Abstract

The destructive consequences of the COVID19 pandemic have negatively affected socioeconomic indicators and disrupted macroeconomic stability. The aim of the study is to determine the optimal combination of financial, socioeconomic, and public health determinants based on their relevance for the postpandemic recovery of macroeconomic stability. For this purpose, principal component analysis was used to form an initial macroeconomic stability index by integrating such indicators as GDP growth, unemployment rate, consumer price index, current account balance, and trade volume. Next, the Granger test and panel data regression modeling was employed to identify the causality between the level of macroeconomic stability and a set of financial, socioeconomic and public health determinants. Finally, the financial, socioeconomic, and public health determinants were ranked according to their impact on macroeconomic stability. The obtained empirical results can be used to improve the financial, economic, and health care state policies in terms of strengthening country resistance to risks caused by a pandemic or other similar threats in the future.

Details

Title
DETERMINANTS FOR POSTPANDEMIC RECOVERY OF MACROECONOMIC STABILITY: EVIDENCE FROM EUROPEAN COUNTRIES
Author
Vysochyna, Alina 1 ; Vasylieva, Tetiana 2 ; Ciesliński, Wojciech 3 ; Tinka, Domonkos 4 

 Department op Accounting and Taxation, Sumy State University, Ukraine 
 Department op Einančiai Technologies and Entrepreneurship, Sumy State University, Ukraine 
 Faculty op Physical Education and Sports 
 Széchenyi Istvan Unirersity, Doctoral School op Economic and Regional Sciences, Gyor, Hungary 
Pages
256-272
Publication year
2024
Publication date
2024
Publisher
Centre of Sociological Research (NGO)
ISSN
2071789X
e-ISSN
23063459
Source type
Scholarly Journal
Language of publication
English
ProQuest document ID
3097910171
Copyright
© 2024. This work is published under https://creativecommons.org/licenses/by-nc/4.0/ (the “License”). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License.