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The Economic and Social Impact of the COVID-19 Pandemic

Romania in a European Context

herausgegeben von: Valentina Vasile, Elena Bunduchi

Verlag: Springer Nature Switzerland

Buchreihe : Contributions to Economics

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Technik" , Springer Professional "Wirtschaft"

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Über dieses Buch

This volume examines the effects of the COVID-19 pandemic on the labor market and the business environment in the European Union (EU), with a specific focus on Romania, the least developed country in the EU. The book emphasizes the need to rethink recovery models and suggests a new normal based on the pillars of economic, climatic, and social resilience. Is proposed the redefinition the policies’ mix that will allow fundamental changes in development, focused also on social and societal profit, the redefinition of productivity and environmental performance of businesses, and the rebalancing of work and leisure life.

The COVID-19 crisis not only accelerated the digital transformation of society but also reconfigured the coordinates of economic development by prioritizing sustainable development for all, based on green jobs as a starting point for business innovation and decent jobs for active social protection. Following this approach, the contributions discuss selected issues with importance to the development of society in the post-pandemic world.

The book is of interest to students, scholars and researchers in economics, business, management and political science, as well as to policy makers and practitioners, for a better understanding of the impact of the COVID-19 pandemic on the labor market and the business environment in European Union.

Inhaltsverzeichnis

Frontmatter

Chapter 1. Preliminary Comments. A Scientometric Dimension of the Economic and Social Impact of COVID-19

Abstract

As a conjunctural phenomenon, the pandemic crisis, through its implications and effects, affected the work and life model, and emphasized the low resilience of society, as a whole, to flexibly and effectively manage the effects, to adapt. The externalities were both positive and negative, and many of the effects are still present, with public policies aiming to build a “new normal”. The costs of the pandemic have been analysed by experts, and we refer not only to the economic ones but also to the social, cultural, psychological and other effects. The introductory chapter of the volume presents, on the one hand, a synthesis of the specialized literature, highlighting the interest of experts to understand, measure and analyse the complexity of the impact of the pandemic, and, on the other hand, motivates the thematic selection of the volume’s chapters. A scientometric analysis was developed, based on the publications in the WoS database, for the period 2020–2022 and the dependencies of the keywords were defined. The arguments for the research subjects selected to be analysed in volume were inventoried, and the aspects of interest addressed in detail in each of the chapters were briefly presented. So, the main message of the present volume could be summarized as follow “after each crisis we redefine ourselves, a “new normal” is built from the economic, social and cultural perspective, we move to a new phase of human progress, in which the balances of development are reconfigures. Main drivers should be: solidarity, inclusion, innovation, complex approach of problem-solving, and accountability.”

Valentina Vasile, Razvan Vasile

Chapter 2. Another Crisis, Different Responses? Determinants of Crisis and Mixed Impact on Economic Development: A Comparative Approach of the EU Countries

Abstract

The pandemic and the financial crisis of 2008–2009 are comparatively analysed in this chapter from the perspective of their impact on economic development and the restructuring of the labour market. These two crises affected employment levels and led to significant changes in job structures and the content of jobs. The postcrisis recovery varies among the EU member states and candidate countries, and in some cases, only partial recovery has occurred due to the specific conditions of each country and differences in the efficiency of policy measures.

Valentina Vasile, Raluca Mazilescu, Marius-Razvan Surugiu

The Challenges of the Pandemic and the Business Environment. Towards a New Normal?

Frontmatter

Chapter 3. Digital Transformation: Challenges and Limits for the New Normal

Abstract

The restrictions imposed by the pandemic crisis on economic activity and social interaction determined the forced digitization of households and workplaces. The chapter analyzes to what extent the COVID-19 crisis continued/accelerated the digital transformation of companies and the digital inclusion of individuals and households. Based on the statistical data available for the pandemic period, compared to the pre-pandemic period, it is evident that, at the company level, the digital adaptation was based on minimal, survival components. Thedigital transformation strategy, previously defined, continued only as an exception, the investments in ICT technology being redirected, mainly, to the facilitation of remote work, e-commerce and digital communication. The business environment has changed irreversibly, the work and life model has adapted to remote, flexible, modularized work, with important economic and social implications. At the level of the individual and the household, the effects of forced digitization were different, with the increase in digital discrimination and inequalities for the vulnerable categories and with significantly higher associated costs. Post-pandemic recovery and resilience requires the redefinition of activities and inter-human communication, a new normal, based on the acceptance of digitization as a basic component of work and life in households, at the workplace and in the community.

Razvan Vasile

Chapter 4. Thinking Beyond COVID-19: What’s Next for Romanian SMEs?

Abstract

In Chap. 4, I looked at the ways on how the pandemic crisis affected Romania’s SME sector. I explored the implications of using internet documents and official statistics in research. In addition to posing problems for the medical system, the COVID-19 pandemic has also had an adverse impact on the economic and social systems of the EU member states and the rest of the world. Numerous thousands of lives have been impacted by this urgent global issue which continues to put great strain on financial institutions. Given the circumstances, it is imperative to address economic and social issues as soon as possible and support or push policies that will be advantageous to the several industries affected by the pandemic catastrophe. The SME sector was one of the worst-affected industries when the crisis began to affect Romania, in March 2020. This paper discusses how the COVID-19 crisis affected Romania’s SME sector while also seeking to provide advice and recommendations for surviving the crisis and regaining stability following it.’

Daniela Antonescu

Chapter 5. Distortions and Gains in the Foreign Trade Activity During the Post-pandemic Era

Abstract

In 2020, there was a notable decline in the volume of global international trade, potentially one of the most significant since World War II. Drawing from the most recent statistical data on Romania’s foreign trade in goods and partners, and examining the economic landscape shaped by the conditions brought about by the COVID-19 pandemic, this section focuses on international trade activities in 2020 at the global, regional/European and national level.

Worldwide, the trade in services saw a steeper decline, and its post-lockdown recovery has been more sluggish compared to the trade in goods. The drop in global trade in 2020 was less severe than during the global financial crisis of 2008–2009. However, the influence of COVID-19 was characterised by the variability in specific goods and trading partners. The composition of foreign trade by product category underwent changes due to significant disruptions in the international transportation sector.

The unparalleled variability in the pandemic’s impact on trade witnessed in 2020 underscores the need for adaptability. It’s essential to pinpoint action plans and strategies to mitigate risks at both the corporate and governmental levels.

Elena Banica, Artur Emilian Simion

Chapter 6. Tax Burden During the Pandemic: Lessons Learned and Challenges

Abstract

This chapter delves into the challenges and strategies employed within the realm of taxation by European Union countries to alleviate the impact of the COVID-19 crisis. Furthermore, it scrutinises the effects of various variables on indirect tax revenues, focusing on Romania as a case study. The analysis is based on quarterly data between 2009 and 2021. The findings indicate that three of these variables exhibit statistically significant impacts on indirect tax revenues, namely, the unemployment rate, inflation rate and the disease-related dummy variable.

Marius-Răzvan Surugiu, Raluca Mazilescu, Camelia Surugiu

Constraints on Labor Market Participation. Changing the Employment Paradigm

Frontmatter

Chapter 7. The (Post)Pandemic Employment Model

Abstract

The year 2020 was a historic turning point, shaped by the COVID-19 pandemic and the digital revolution. This chapter explores how these forces have reshaped the employment landscape, with a focus on Romania.

Before the pandemic, work was often rigid, with an 8-h workday in physical offices. However, the pandemic brought swift changes, introducing flexibility in where and when work takes place. Teleworking became the norm, challenging the traditional 5-day workweek, with the 4-day workweek gaining traction.

Global companies like Unilever and Microsoft had already experimented with the 4-day workweek, proving its potential to boost productivity and employee satisfaction. Its wider adoption could drive post-pandemic recovery, offering benefits for both companies and employees.

The pandemic also accelerated automation in Romania, streamlining tasks and optimising resource allocation. Artificial intelligence and artificial general intelligence are reshaping employment.

This chapter concludes by examining job transformation due to automation, highlighting both opportunities for upskilling and concerns about job displacement. Insights from an OECD survey shed light on AI’s impact in finance and manufacturing sectors.

In summary, this chapter navigates a changing employment landscape influenced by the pandemic and digitalisation, emphasising the need for proactive measures to ensure a fair and productive future of work.

Ana-Maria Ciuhu

Chapter 8. The Impact of the Pandemic on the Participation in the Labour Market of Vulnerable Groups: Women, Young People, the Elderly and Self-Employed Workers

Abstract

This chapter aims to highlight and analyse the changes in the Romanian labour market situation of four vulnerable categories (women, young people, the elderly and self-employed workers), as a result of the pandemic crisis generated by COVID-19, compared to the pre-pandemic period. The analysis was carried out under two main aspects: the first aspect covers the period 2019–2020, in order to identify the initial changes in the situation of vulnerable groups on the labour market, as an immediate effect of the outbreak of the pandemic, as well as an estimate of the evolution of labour indicators for the next 2 years. The second aspect aims to compare the estimates made with the real evolution of the same indicators for the years 2021 and 2022, in order to highlight the final impact of the pandemic crisis on the labour market situation of the four vulnerable groups. The changes in the labour market were captured by using absolute and relative indicators of employment and unemployment, structured by socio-demographic characteristics (age, education, gender), but also by a series of variables related to the type of employment and work regime (work schedule, type of ownership, activity sector, work type, major occupational groups, employment status).

Cristina Boboc, Simona Ghita

Chapter 9. Propensity for Migration of Healthcare Professionals: Push-Pull Factors Analysis

Abstract

The migration of healthcare professionals from less developed countries is a significant phenomenon, and it has adverse consequences for the source country. Examining the healthcare labour market over the past two decades reveals a growing appeal of migration, not only for medical specialists but also for students and recent graduates. This chapter aims to identify the push-pull factors that encourage medical students to pursue education and employment abroad. The results of logistic regression analysis based on the questionnaire data highlight a concerning situation with far-reaching implications for the Romanian healthcare system. Young professionals display a strong propensity towards migration, whether it involves studying or seeking employment opportunities abroad. This fact is largely due to poor working conditions and lack of career perspectives in the home country. Within this framework, it becomes imperative for Romanian authorities and healthcare institutions to proactively develop strategies for retaining medical specialists and enhancing working conditions within the healthcare sector.

Elena Bunduchi, Valentina Vasile, Daniel Stefan, Calin-Adrian Comes

Chapter 10. Features of the Policies Adopted for the Mitigation of the Pandemic Recession Impact on the Labour Market Operation

Abstract

Considering the European Union experience, firstly, the chapter reveals the informational technologies role in activating the labour supply and maintaining the jobs and also the high degree of vulnerability of the jobs generated by the traditional consumption services under the conditions of a pandemic shock. During the first semester of 2020 year, the block out measure implementation caused an impressive jobs loss and significant increases in the rate of unemployment. In this context, the member states implemented labour market policies representing combination of best practices, used during previous recessions and innovative solutions, adequate to the pandemic context. Even there were some differences caused by the level of development and the variants of economic and social model established in each member state, the labour market policies implemented in the pandemic context remained in the area of European social model. In fact, the pandemic shock contributed to the broading of the European Commission prerogatives and to the design and implementation of innovative solutions related to financial assistance granted to member states. As a result of the implementation of the above-mentioned policies, practically in all member states, in December 2022, the rate of unemployment came back to the levels registered in January 2020.

Florin Marius Pavelescu

Health Sector! New Identity, Old Challenges

Frontmatter

Chapter 11. The Impact of COVID-19 on the Healthcare Labour Market in European Countries and Romania in Particular

Abstract

The health crisis that started in 2020 affected the entire world in all areas. Things have changed, with work experiencing another level, with domains where it was not possible to work online or companies that could not resist the changes in the economy; thus, many unemployed persons were registered, with the unemployment rate increasing a lot. The healthcare market has also suffered, having to face the pandemic with fewer doctors and personnel. In addition to this deficit, the entire healthcare system has proved less efficient in case of a health crisis, with countries experiencing low resilience. In this context, the paper analyses employment and unemployment in general and in the healthcare system, both in the EU and in Romania in particular, until and after the health crisis began.

Simona Andreea Apostu

Chapter 12. Issues Regarding the Management of Hazardous Medical Waste During the COVID-19 Crisis in Romania

Abstract

The SARS-CoV2 epidemic’s course in Romania between 2020 and 2021 has exposed numerous flaws and difficulties with the country’s healthcare system. These have negative effects; thus, it’s critical that flaws are identified and fixed in order to build a defence against contagious diseases. This chapter provides a much-needed analysis of Romania’s hazardous medical waste disposal process and makes an educated guess as to how the COVID-19 pandemic may affect the volume generated. The chapter also highlights the capacities for getting rid of dangerous medical waste.

The major goal of this chapter is to determine the amount of hazardous waste produced in Romania, the impact of the COVID-19 epidemic on the production of medical waste and the examination of safe disposal options utilising the current infrastructure. In order to achieve this, the authors developed data sets on the volumes of medical waste produced over time using the information that was available and examined the operational waste disposal facilities.

The forecasts developed in this research took into account that the data were collected in conditions of uncertainty. The severe data deficit and the availability of different data sets, strategies and reports employing computational tools that evolved over time must all be highlighted. As a result, the similarity of the data should be evaluated with caution. Future actions and initiatives to lessen and prevent the harmful effects of the COVID-19 outbreak may be supported by this research.

Victor Platon, Simona Frone, Andreea Constantinescu, Iuliana Pantelimon

Chapter 13. Conclusions: Looking Forward, Main Challenges and Limits

Abstract

The final chapter of the volume summarises the most significant conclusions from the thematic analyses conducted to underline the effects of the pandemic on the business environment and on the labour force. A short synthetic but not simplistic inventory of the main challenges and limits for a post-pandemic robust development is presented, underlining the importance of management of building resilience through prevention actions and flexibility in policy measures.

Practically, after each crisis, a ‘new normal’ is built; a new phase of human development is passed, in which the development’s equilibria are reconfigured. Post-pandemic can be defined as a period of reconciliation between economy, society and nature, of reconsider inclusiveness and ‘development for all’.

The COVID-19 crisis has highlighted, on the one hand, the benefits of digital transformation and the need for flexibility and innovation in employment and labour market reform, and the usefulness of lifelong learning for upskilling and reskilling. On the other hand, the need for development based on environmental protection, efficient use of resources (energy, human, food, etc.) and intelligent management of the effects of climate change was reconfirmed.

Valentina Vasile, Elena Bunduchi

Titel: The Economic and Social Impact of the COVID-19 Pandemic
herausgegeben von: Valentina Vasile
Elena Bunduchi
Verlag: Springer Nature Switzerland
Electronic ISBN: 978-3-031-47780-5
Print ISBN: 978-3-031-47779-9
DOI: https://doi.org/10.1007/978-3-031-47780-5

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