The Regulatory Determinants of Economic Growth under Pandemic Challenges: Regional Cluster Issues and Patterns
The main objective of this paper is to discover the impact of the COVID-19 pandemic and regulatory conditions of doing business on economic growth of different economies, particularly in terms of the combined co-effect of the two mentioned factors. An econometric cluster model using the k-means meth...
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University of Warsaw, Centre for European Regional and Local Studies (EUROREG)
2024-12-01
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| Series: | Studia Regionalne i Lokalne |
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| Online Access: | https://studreg.uw.edu.pl/pl/archiwum,the-regulatory-determinants-of-economic-growth-under-pandemic-challenges-regional-cluster-issues-and-patterns |
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| author | Yurii Umantsiv Pavlo Dziuba Yuliya Yasko Maryna Shtan Halyna Umantsiv |
| author_facet | Yurii Umantsiv Pavlo Dziuba Yuliya Yasko Maryna Shtan Halyna Umantsiv |
| author_sort | Yurii Umantsiv |
| collection | DOAJ |
| description | The main objective of this paper is to discover the impact of the COVID-19 pandemic and regulatory conditions of doing business on economic growth of different economies, particularly in terms of the combined co-effect of the two mentioned factors. An econometric cluster model using the k-means method is developed. 172 economies were distributed between clusters based on three parameters: 1) rates of GDP growth for individual economies in 2020, as provided by the World Bank; 2) the World Bank Doing Business rating for 2020; and 3) the COVID-19 pandemic factor that is represented by the total accumulated number of cases officially fixed per 100,000 of population, as provided by the World Health Organization. The study proves that the COVID-19 pandemic appeared to be a substantial factor of economic growth for the vast majority of economies, which is reflected by the drop in their GDP even despite favourable conditions of doing business in some countries. Substantial compensating reciprocal influences are observed between the set of doing business factors and the COVID-19 pandemic factor. |
| format | Article |
| id | doaj-art-cf8cd819df3c43cfa0ae624774889667 |
| institution | Kabale University |
| issn | 1509-4995 2719-8049 |
| language | English |
| publishDate | 2024-12-01 |
| publisher | University of Warsaw, Centre for European Regional and Local Studies (EUROREG) |
| record_format | Article |
| series | Studia Regionalne i Lokalne |
| spelling | doaj-art-cf8cd819df3c43cfa0ae6247748896672025-01-22T09:26:10ZengUniversity of Warsaw, Centre for European Regional and Local Studies (EUROREG)Studia Regionalne i Lokalne1509-49952719-80492024-12-01Special Issue466010.7366/15094995S2404The Regulatory Determinants of Economic Growth under Pandemic Challenges: Regional Cluster Issues and PatternsYurii Umantsiv0https://orcid.org/0000-0003-0788-7110Pavlo Dziuba1https://orcid.org/0000-0003-2932-0908Yuliya Yasko2https://orcid.org/0000-0002-8756-4612Maryna Shtan3https://orcid.org/0000-0002-4938-555XHalyna Umantsiv4https://orcid.org/0000-0002-5410-1363State University of Trade and Economics, Department of Economics and Competition Policy, 19 Kyoto St., 02156 KyivTaras Shevchenko National University of Kyiv, Department of International Finance, Institute of International Relations, 36/1 Yuriy Illenko St., 04119 Kyiv, UkraineState University of Trade and Economics, Department of Economics and Competition Policy, 19 Kyoto St., 02156 Kyiv, UkraineNational Academy of Management, Department of International Economic Relations, 15 Ushinskogo St., 03151 Kyiv, UkraineState University of Trade and Economics, Department of Accounting and Taxation, 19 Kyoto St., 02156 Kyiv, UkraineThe main objective of this paper is to discover the impact of the COVID-19 pandemic and regulatory conditions of doing business on economic growth of different economies, particularly in terms of the combined co-effect of the two mentioned factors. An econometric cluster model using the k-means method is developed. 172 economies were distributed between clusters based on three parameters: 1) rates of GDP growth for individual economies in 2020, as provided by the World Bank; 2) the World Bank Doing Business rating for 2020; and 3) the COVID-19 pandemic factor that is represented by the total accumulated number of cases officially fixed per 100,000 of population, as provided by the World Health Organization. The study proves that the COVID-19 pandemic appeared to be a substantial factor of economic growth for the vast majority of economies, which is reflected by the drop in their GDP even despite favourable conditions of doing business in some countries. Substantial compensating reciprocal influences are observed between the set of doing business factors and the COVID-19 pandemic factor.https://studreg.uw.edu.pl/pl/archiwum,the-regulatory-determinants-of-economic-growth-under-pandemic-challenges-regional-cluster-issues-and-patternsregulatory environmentdoing business ratinggdpeconomic growthcovid-19k-means clustering |
| spellingShingle | Yurii Umantsiv Pavlo Dziuba Yuliya Yasko Maryna Shtan Halyna Umantsiv The Regulatory Determinants of Economic Growth under Pandemic Challenges: Regional Cluster Issues and Patterns Studia Regionalne i Lokalne regulatory environment doing business rating gdp economic growth covid-19 k-means clustering |
| title | The Regulatory Determinants of Economic Growth under Pandemic Challenges: Regional Cluster Issues and Patterns |
| title_full | The Regulatory Determinants of Economic Growth under Pandemic Challenges: Regional Cluster Issues and Patterns |
| title_fullStr | The Regulatory Determinants of Economic Growth under Pandemic Challenges: Regional Cluster Issues and Patterns |
| title_full_unstemmed | The Regulatory Determinants of Economic Growth under Pandemic Challenges: Regional Cluster Issues and Patterns |
| title_short | The Regulatory Determinants of Economic Growth under Pandemic Challenges: Regional Cluster Issues and Patterns |
| title_sort | regulatory determinants of economic growth under pandemic challenges regional cluster issues and patterns |
| topic | regulatory environment doing business rating gdp economic growth covid-19 k-means clustering |
| url | https://studreg.uw.edu.pl/pl/archiwum,the-regulatory-determinants-of-economic-growth-under-pandemic-challenges-regional-cluster-issues-and-patterns |
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