Conveyor hitch:The influence of COVID-19 pandemic on industrial production in CEE and SEE countries in 2020–2021

Lobanov, Mikhail M. and Zvezdanović Lobanova, Jelena (2022) Conveyor hitch:The influence of COVID-19 pandemic on industrial production in CEE and SEE countries in 2020–2021. Вестник Института экономики Российской академии наук (4). pp. 23-49. ISSN 2073-6487

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Abstract

The article deals with the COVID-19 pandemic impact on the industry of Central-Eastern and South-Eastern European countries in 2020–2021. The authors analyze the features of the active phase of the crisis, recovery growth and aftershocks in the industrial production of the given countries, and also determine the internal and external factors of strengthening the intra-regional heterogeneity of industrial systems and differentiation in the development trajectories of individual industries. The particular attention is paid to the participation of industrial enterprises of the CEE and SEE countries in the processes of global value chains transformation, triggered by the implementation of TNC strategies to increase their resilience. On the example of several industries (automotive, electronics, chemicals and pharmaceuticals manufacturing) the authors describe the differences in the nature of the “coronacrisis” impact on production activity and show the main risks for national companies due to the policy of “European industrial autonomy” (including those related to changing positions of given companies in production chains, backshoring and other forms of industrial relocation, ensuring the stability of supplies of raw materials and components).

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