THE INFLUENCE OF THE COVID-19 PANDEMIC ON CHANGING THE BEHAVIOR OF ECONOMIC ENTITIES * The research was performed within the project "Financial determinants of economic growth of regions and territorial communities based on the behavioral economy" (registration number 2020.02 / 0215), supported by NFDU (Competition "Support to the research of leading and young scientists").The research was performed within the project "Financial determinants of economic growth of regions and territorial communities based on the behavioral economy" (registration number 2020.02 / 0215), supported by NFDU (Competition "Support to the research of leading and young scientists").

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  Halyna Voznyak

  Khrystyna Patytska

  Taras Kloba

Abstract

The relevance of the research topic is due to the widespread impact of the pandemic on human life and the socio-economic development of the territories. The main factor in changing the behavioral patterns of economic entities in a pandemic was quarantine and the need for social distancing as the main preventive measure to combat the spread of the disease. As a result of distancing, there has been a decline in economic activity, disruption of value chains, rising unemployment, mass bankruptcy of enterprises, as well as changes in the way business structures and the behavior of economic entities. The article aims is to identify changes in the behavior of economic entities in the context of the COVID-19 pandemic and their impact on the economy. In the process of research, the set of general methods of scientific cognition (system analysis, logical generalization, analogy, comparative analysis) was used, which provided the possibility of realization of the integrity of scientific research. As a result of the study, the main trends in the behavior of economic entities were identified and analyzed. The following tendencies are revealed: digitalization (transition from social to digital interaction in work and educational processes, circles of close people for the preservation of social distance); changing the model of mobility (reducing the use of public transport, reducing attendance at hotels and restaurants, the transition to distance employment and education, reducing tourism and business travel); changing consumer buying habits (development of e-commerce, “conscious” consumption, support for local producers); infodemic (dissemination of misinformation, the anti-vaccination movement, increase in the number of information messages on conspiracy theories); increased attention to one's health, hygiene and healthy lifestyle (wearing masks, using sanitizers, healthy eating); changes in interpersonal behavior (increase in the number of divorces, increase in cases of domestic violence, restriction of personal contacts, increase in gender inequality). The research conducted in the article allows us to state that the tendencies of changing the behavior of economic entities are potential catalysts for changes in the economy as a whole. Therefore, the question of the exit of the majority of economic entities from the crisis lies in the plane of adaptation and reorientation of their life to the new “post-COVID” conditions.

How to Cite

Voznyak, H., Patytska, K., & Kloba, T. (2021). THE INFLUENCE OF THE COVID-19 PANDEMIC ON CHANGING THE BEHAVIOR OF ECONOMIC ENTITIES: * The research was performed within the project "Financial determinants of economic growth of regions and territorial communities based on the behavioral economy" (registration number 2020.02 / 0215), supported by NFDU (Competition "Support to the research of leading and young scientists").The research was performed within the project "Financial determinants of economic growth of regions and territorial communities based on the behavioral economy" (registration number 2020.02 / 0215), supported by NFDU (Competition "Support to the research of leading and young scientists"). Green, Blue & Digital Economy Journal, 2(2), 8-14. https://doi.org/10.30525/2661-5169/2021-2-2
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Keywords

COVID-19 pandemic, behavioral economics, digitalization, mobility, consumer buying habits, infodemic

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