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Pandemic Economic Crisis: Changes and New Challenges to Society Scientific monograph edited by M. Bezpartochnyi VUZF University of Finance, Business and Entrepreneurship (Sofia, Bulgaria) 2020 1 Chief Editor: Assoc. Prof. Dr. Grigorii Vazov Members: Prof. Doctor of Economic Sciences Metodi Hristov Prof. Dr. Radoslaw Grabowski Prof. Dr. Daniela Bobeva Prof. Dr. Emilia Milanova Prof. Dr. Virginia Zhelyazkova Prof. Dr. Grigor Dimitrov Assoc. Prof. Dr. Yakim Kitanov Assoc. Prof. Dr. Desislava Yosifova Assoc. Prof. Dr. Stanislav Dimitrov Assoc. Prof. Dr. Krassimir Todorov Assoc. Prof. Dr Daniela Ilieva Recommended for publication by the Editorial Board of the VUZF University of Finance, Business and Entrepreneurship Reviewers (international scientific editoral board): Radostin Vazov – Assoc. Prof. Dr., Vice-Rector, VUZF University of Finance, Business and Entrepreneurship, Bulgaria Piotr Jarosz – prof. dr hab., Vice-rector, University of Socio- Economics in Przeworsk, Poland Tetiana Cherniavska – Doctor in Economics, Professor at the State University of Applied Sciences in Konin, Poland Pandemic Economic Crisis: Changes and New Challenges to Society: scientific monograph / edited by M. Bezpartochnyi // VUZF University of Finance, Business and Entrepreneurship. – Sofia: VUZF Publishing House “St. Grigorii Bogoslov”, 2020. – 313 p. Reproduction or citation reference is mandatory. © Collective of Authors © VUZF Publishing House “St. Grigorii Bogoslov”, Sofia, 2020 ISBN 978-954-8590-92-1 2 Pandemic Economic Crisis: Changes and New Challenges to Society Contents INTRODUCTION ……………………………………………..…..… 7 Chapter 1 NEW CHALLENGES AND TRANSFORMATION OF INTERNATIONAL ECONOMIC RELATIONS …………………. 8 Britchenko I., Bezpartochnyi M. Global pandemic economic crisis: consequences and opportunities for Ukraine …………………………………...………………...….. 8 Doronina I., Slyusarchuk O. Analysis of the new green course in the world …………….…….. 22 Kavkler A. Comparison of individual and panel unit root tests for purchasing power parity verification in non-euro area Central and Eastern European countries ……………………………………………….. 33 Shedyakov V. Pandemic and change of public paradigm: political and economic aspects of the transition ……………………………………….….. 48 Zebkov R. Corruption assessment and its effect on innovation and growth …………………………………………………………………….. 60 Chapter 2 OPTIMIZATION OF RESOURCE ENSURING IN THE CONTEXT OF DECLINING BUSINESS ACTIVITY OF ECONOMIC ENTITIES …………………………………………... 68 Kuranovic V. China supply chain logistics corporate strategy decisions and logistics market trends ……………………………………………. 68 3 Levchenko Ya., Britchenko I., Bezpartochnyi M., Prylutska L. Regional clustering of financial ensuring of dual education introduction on the example of Ukraine road sector ……………... 80 Štangová N., Víghová A. Evaluation of the organization’s performance in connection with the creation of financial statements …………………………………... 89 Chapter 3 ENSURING COMPETITIVENESS AND THE FORMATION OF NEW FORMS OF ENTREPRENEURSHIP IN PANDEMIC CONDITIONS …………………………...………………………... 100 Kuzmin O., Niemirich O., Koretska I., Pastukh H., Ustymenko I., Berezhna T. Ensuring the competitiveness of restaurants by determining the quality of diets …………………………………………...…….... 100 Kuzmin O., Sylka I., Frolova N., Popovych A., Popovych V., Kyrpichenkova O. Ensuring the competitiveness of the restaurant business in Ukraine in the period Covid-19 pandemics …………………………..…….. 110 Riabets N., Vlasenko Y. Virtual organizations as a perspective form of doing business in morden conditions of uncertainty: concept and specifics ………. 119 Chapter 4 RESULTS OF STUDIES OF THE IMPACT PANDEMIC ON SOCIO-ECONOMIC PROCESSES ……………………………... 129 Bogush L. The employment sphere of Ukraine in conditions of the pandemic crisis overcoming: problems and approaches to regulation …….. 129 Czeczeli V., Kolozsi P. P., Kutasi G., Marton Á. Variety of European economies and their economic behaviour in the Covid-19 pandemic ……………………………………………... 141 4 Ostrárková J., Staníčková M. Concept of regional resilience: literature review of theory and application studies ………………………………………………. 152 Patyka N. Implications of Covid-19 pandemic and quarantine measures on the Ukraine’s agriculture ………………...………………………….. 161 Pidlypna R., Smochko V., Indus K. The impact of the Covid-19 pandemic on socio-economic processes …………………………………………………………………… 170 Polous O., Mykhalchenko I. Competence-oriented approach to the intellectualization of human capital in the context of global economic transformations ……... 179 Shelever N. Problems implementation of constitutional principle of justice in the economy in condition of the Covid-19 pandemic ………………. 188 Slabinoha M., Shanko Ya. Setup of learning process management tools orchestration for sustainable operation during Covid-19 pandemic ………………. 198 Chapter 5 USE OF MODERN INFORMATION TECHNOLOGIES AND DIGITALIZATION OF BUSINESS PROCESSES IN PANDEMIC CONDITIONS …………………………………………………….. 208 Dumanska I. Digitalization of administrative services for Ukrainian businesses based on the implementation of the experience of European countries and USA ………………...…………............................................. 208 Sopilnyk L., Sopilnyk R., Sviderskyy H. Organizational aspects of judicial processes digitalization under the pandemic crisis …………………………………...……………... 218 5 Trushkina N., Bezpartochna O., Shkrygun Yu. Priority directions for development of digital marketing in the conditions of globalization ……………………………………… 227 Vavdiichyk I., Stoianenko I. Priority directions of development of retail enterprises of Ukraine in the conditions of a pandemic ……………………………………. 238 Chapter 6 FORMATION OF STRATEGIES AND MODELS FOR OVERCOMING CRISIS PHENOMENA IN CERTAIN SECTORS OF THE ECONOMY ……………………………….…………….. 247 Golovko O., Oriekhova K., Gubenko O. Financial mechanism of activity credit unions ………………...... 247 Heseková S. Household indebtedness and measures for deferring payments of loans granted to consumers …………………………….……….. 254 Hryniuk D., Nikolaiev Ya. Competitiveness of the mena regional tourist model, current challenges and response ………………………………………… 262 Petrukha S., Stakhov B., Petrukha N. Ukraine’s public finance: denerminants, institutional transfromation and directions in development of budgetary regulation ………… 271 Polstyana N., Kononenko T. “Green” economy as a prospective model of Ukraine development …………………………………………………………………… 301 CONCLUSION ……………………………………………………. 311 6 INTRODUCTION The current economic crisis caused by the COVID-19 pandemic has created new changes and challenges for society, which has led to a deeper identification of pressing problems and to develop strategies and models for overcoming crises in various countries, industries and businesses. The formation and improvement of modern strategies and models of crisis management is impossible without optimizing the resources of economic entities, providing assistance at various levels of government to support priority sectors of the economy, finding additional sources of funding to combat the COVID-19 pandemic. To ensure the effective develop and implementation of modern strategies and models of crisis management it is necessary to have information about the state of economic entities, relevant commodity, raw materials, financial markets, explore the internal and external environment, determine the impact of risks on current activities business entities or industries. The effectiveness of crisis management strategies and models is determined by the ability of the management system to ensure the support of business activity of economic entities in the relevant market and to stimulate effective consumer demand. The purpose of writing this scientific monograph is to substantiate the theoretical and methodological foundations and to form and improve strategies and models of crisis management taking into account new changes and challenges for society related to the COVID-19 pandemic and declining business activity of economic entities. The object of the author’s research was the process of formation and improvement of crisis management strategies and models in the conditions of market imbalance and change of the external environment, reduction of activity volumes of economic entities, growth of budget expenditures to combat the COVID-19, formation of new forms of activities and penetration of information technology into various spheres of life to optimize the negative consequences of a pandemic. The subject of the study were socio-economic, organizational and institutional processes of formation and effective implementation of strategies and models of crisis management in various areas of economic activity; substantiation of mechanisms for ensuring the competitiveness of economic entities and the formation new forms of entrepreneurship; development of modern information technologies; consideration of best practices in business process management and digitalization using world experience in various sectors of the economy caused by the COVID-19. 7 Chapter 1 NEW CHALLENGES AND TRANSFORMATION OF INTERNATIONAL ECONOMIC RELATIONS Britchenko Igor Doctor of Economics, Professor, Department of Finance VUZF University of Finance, Business GLOBAL PANDEMIC and Entrepreneurship ECONOMIC CRISIS: Bezpartochnyi Maksym CONSEQUENCES Doctor of Economics, Professor at the AND Department of Economics, Marketing OPPORTUNITIES and International Economic Relations FOR UKRAINE National Aerospace University named after N. Zhukovsky “Kharkiv Aviation Institute” (Sofia, Bulgaria; Kharkiv, Ukraine) To