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Macroeconomic effects of the pandemic and prospects for economic recovery (Proceedings of the roundtable discussion at the XXII April international academic conference on economic and social development)

https://doi.org/10.32609/0042-8736-2021-7-5-30

Abstract

The roundtable participants assessed the effects of the pandemic and analyzed its consequences, the impact on economic and social development. The main attention in the discussion was paid to the pace of economic recovery, anti-crisis mechanisms to support the economy in 2020, which can become systemic, aimed at stimulating investment activity, and suggest new approaches to solving social problems. The participants in the discussion proposed considering the possibility of strengthening the countercyclical nature of the fiscal rule, taking into account not only oil prices, but also other factors of economic activity. It was noted that investments in many sectors have increased, but mainly due to budgetary sources, the role of budgetary policy has also increased. During the pandemic, the role of the state has changed: it has become not only a source of funds, but also a guarantor of investments and social payments. However, the roundtable participants noted that this new role of the state should not be ensured by raising taxes.

About the Authors

A. N. Shokhin
HSE University
Russian Federation

Alexander N. Shokhin

Moscow



N V. Akindinova
HSE University
Russian Federation

Natalia V. Akindinova

Moscow



V. Y. Astrov
Vienna Institute for International Economic Studies
Austria

Vasily Y. Astrov

Vienna 



E. T. Gurvich
Economic Expert Group; Financial Research Institute of the Ministry of Finance of the Russian Federation
Russian Federation

Evsey T. Gurvich

Moscow



O. A. Zamulin
Sberbank
Russian Federation

Oleg A. Zamulin

Moscow



A. N. Klepach
VEB.RF
Russian Federation

Andrey N. Klepach

Moscow



V. A. Mau
Russian Presidential Academy of National Economy and Public Administration
Russian Federation

Vladimir A. Mau

Moscow



N. V. Orlova
Sberbank
Russian Federation

Natalia V. Orlova

Moscow



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Review

For citations:


Shokhin A.N., Akindinova N.V., Astrov V.Y., Gurvich E.T., Zamulin O.A., Klepach A.N., Mau V.A., Orlova N.V. Macroeconomic effects of the pandemic and prospects for economic recovery (Proceedings of the roundtable discussion at the XXII April international academic conference on economic and social development). Voprosy Ekonomiki. 2021;(7):5-30. (In Russ.) https://doi.org/10.32609/0042-8736-2021-7-5-30

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ISSN 0042-8736 (Print)