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Assessing the Impact of COVID-19 Pandemic on Economy of Russian Regions: Theoretical and Practical Aspects



A.A. Pesotskiy
andrey.pesotskiy@gmail.com
associate scientist, Institute for Regional Economic Studies, PhD in Economics, associate professor
St. Petersburg

Keywords:

  • economic shock
  • shock resistance
  • regions
  • clustering
  • R-statistics
  • The article deals with the coronavirus pandemic as an economic shock affecting the regions of Russia. The author's definition of an economic shock is given and its distinctive features are identified. We consider two approaches to clustering of regions under the pandemic, i.e. distinguishing the groups of regions, whose socio-economic systems have been affected to a different extent. According to the first approach, the measured parameters are identified empirically, their analysis determines the correlation of the region to its cluster. The second approach assumes that total data needs measuring with mathematical-statistical methods, and then clusters should be distinguished. Three clusters are distinguished, a fragmentary interpretation establishing the correlation between specific regions and clusters based on the specifics of their development is given.