Uman NUH | today: 07/08/2024
| Author(s) |
Соколюк С. Ю., , , Бленда Н. О., , , Чернега І. І., , , Zharun E. V., PhD in Economics, , Uman National University of Horticulture Коротєєв М. А., , , Майданюк Р. П., , , |
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| Category | Economics | ||
| year | 2024 | issue | Issue number 104. Part 2 |
| pages | 383-391 | index UDK | 339.9 : 338.124.4 | DOI | 10.32782/2415-8240-2024-104-2-383-391 (Link) |
| Abstract | The article is devoted to the study of the period of the greatest crisis and the greatest inflationary growth in the last three decades. Particular attention in the research is given to defining the features of the current crisis, establishing the cause of the emergence and development of inflation, and its impact on the economy of different countries. Most studies link the current crisis to the COVID-19 pandemic. However, COVID-19 cannot be considered the main cause of the global economic crisis. Rather, COVID-19 has become an accelerator and exacerbated the global financial crisis. The first manifestations of the crisis are noted in February-April 2020 during the fall of the world stock market. In 2022, the situation worsened due to the start of the war in Ukraine and large-scale sanctions against Russia. The current crisis and inflation has a much broader basis, primarily the rise in energy and food prices. Among the factors intensifying the crisis, negatively affecting business activities, the main focus is on the crisis of supply chains, which determines its long-term effect and global consequences, since their adjustment or the formation of new chains will take a lot of time. The consequences of the crisis of the 20s of the 21st century are: a significant increase in the number of unemployed, galloping inflation and uncontrolled price growth, production cuts and bankruptcy of a significant number of enterprises, etc. Galloping inflation is a significant threat to the activity of business structures and the cause of economic and social tension in society. The global crisis affected almost all countries, causing significant losses and economic shocks. The peak of the crisis and inflation fell on September-October 2022. And although, by the end of 2022, in almost all countries, inflation data began to decrease slightly, but in most countries (in the world economy), a further decline in economic growth is observed | ||
| Key words | inflation, crisis, price growth, world economy | ||