PERSPEKTIVE TRGOVINE 2020. TRGOVINE PERSPEKTIVE 2020 PERSPECTIVES TRADE University of Zagreb - Faculty of Economics and Business Croatian Chamber of Economy Ekonomski fakultet Sveučilišta u Zagrebu Hrvatska gospodarska komora TRADE PERSPECTIVES 2020 The interdependence of COVID-19 pandemic and international trade The interdependence of COVID-19 pandemic and international trade and international pandemic of COVID-19 The interdependence Međuovisnost COVID-19 pandemije i međunarodne trgovine i međunarodne pandemije COVID-19 Međuovisnost PERSPEKTIVE TRGOVINE 2020. Međuovisnost COVID-19 pandemije i međunarodne trgovine Proceedings of The International Scientific Conference Zagreb, Croatia, 26th and 27th November 2020 Zbornik međunarodne znanstvene konferencije Zagreb, Hrvatska, 26. i 27. studeni 2020. godine Edited by / Uredili: Tomislav Baković Dora Naletina Kristina Petljak ,6%19 9 7 8 9 5 3 3 4 6 1 4 9 6 ZAGREB, 2020. TRADE PERSPECTIVES 2020 The interdependence of COVID-19 pandemic and international trade PERSPEKTIVE TRGOVINE 2020. Međuovisnost COVID-19 pandemije i međunarodne trgovine Editors / Urednici: Tomislav Baković, Dora Naletina, Kristina Petljak Faculty of Economics and Business Zagreb & Croatian Chamber of Economy, 2020 Ekonomski fakultet Zagreb i Hrvatska gospodarska komora, 2020. TRADE PERSPECTIVES 2020: The interdependence of COVID-19 pandemic and international trade PERSPEKTIVE TRGOVINE 2020.: Međuovisnost COVID-19 pandemije i međunarodne trgovine EDITORS / UREDNICI: Izv. prof. dr. sc. Tomislav Baković Doc. dr. sc. Dora Naletina Doc. dr. sc. Kristina Petljak EDITORIAL BOARD and REVIEWERS /UREĐIVAČKI ODBOR i RECENZENTI: Nikola Knego (Faculty of Economics and Business, University of Zagreb; Croatia), Sanda Soucie (Faculty of Economics and Business, University of Zagreb; Croatia), Tonći Lazibat (Faculty of Economics and Business, University of Zagreb; Croatia), Blaženka Knežević (Faculty of Economics and Business, University of Zagreb; Croatia), Tomislav Baković (Faculty of Economics and Business, University of Zagreb; Croatia), Ines Dužević (Faculty of Economics and Business, University of Zagreb; Croatia), Ivan Kovač (Faculty of Economics and Business, University of Zagreb; Croatia), Dario Dunković (Faculty of Economics and Business, University of Zagreb; Croatia), Dora Naletina (Faculty of Economics and Business, University of Zagreb; Croatia), Kristina Petljak (Faculty of Economics and Business, University of Zagreb; Croatia), Ivana Štulec (Faculty of Economics and Business, University of Zagreb; Croatia), Ivan Novak (Faculty of Economics and Business, University of Zagreb; Croatia), Mile Bošnjak (Faculty of Economics and Business, University of Zagreb; Croatia), Ante Vuletić (Faculty of Economics and Business, University of Zagreb; Croatia), Mia Delić (Faculty of Economics and Business, University of Zagreb; Croatia), Mate Damić (Faculty of Economics and Business, University of Zagreb; Croatia), Marija Jurčević (Faculty of Economics and Business, University of Zagreb; Croatia), Petar Mišević (Croatian Chamber of Economy; University of North Varaždin; Croatia), Dušanka Gajdić (Križevci College of Agriculture; Croatia), Irena Kikerkova (Faculty of Economics Skopje, University St. Cyiril and Methodius; Skopje; Macedonia), Edyta Rudawska (Faculty of Economics and Management, University of Szczecin; Szczecin; Poland), Almir Peštek (Faculty of Economics Sarajevo, University of Sarajevo; Bosnia and Herzegovina), Marek Szarucki (Cracow University of Economics; Cracow; Poland), Jelena Stankeviciene (Faculty of Business Management, Vilnius Gediminas Technical University; Vilnius; Lithuania), Eduardo Tome (Lusiada University of Lisbon; Vila Nova de Famalicao; Portugal), Joaquim Ramos Silva (ISEG Lisbon School of Economics & Management; Portugal), Stipe Lovreta (Faculty of Economics, University of Belgrade, Serbia), Zdenko Segetlija (Faculty of Economics, Josip Juraj Strossmayer University of Osijek; Croatia), Božica Dunković (Osijek-Baranja County, Croatia), Katija Vojvodić (University of Dubrovnik, Department of Economics and Business Economics, Croatia), Ivana Plazibat (University of Split, Department for professional studies, Croatia), Zijad Džafić (Faculty of Economics; University of Tuzla; Bosnia and Herzegovina), Sreten Ćuzović (Faculty of Economics; University of Niš; Serbia), Cornelia Pop (Babes-Bolyai University; Cluj Napoca; Romania) All papers were peer reviewed by two independent reviewers. Svi radovi su recenzirani od strane dva neovisna recenzenta. PROOFREADING / LEKTURA: The papers are printed on the basis of manuscripts provided by the authors, who are responsible for the style and form of the English language. Radovi su tiskani na temelju rukopisa dobivenih od autora. Autori su odgovorni za jezični stil i jezičnu ispravnost tekstova. PUBLISHERS / IZDAVAČI: Ekonomski fakultet Zagreb Sveučilišta u Zagrebu; Trg J. F. Kennedya 6; 10000 ZAGREB Hrvatska gospodarska komora; Rooseveltov trg 2; 10000 ZAGREB GRAPHIC PREPARATION AND PRINT / GRAFIČKA PRIPREMA I TISAK: Sveučilišna tiskara Zagreb Trg maršala Tita 4 10000 ZAGREB YEAR OF PUBLISHING / GODINA IZDANJA: 2020. ISBN (Proceedings / Zbornik radova): 978-953-346-148-9 (meki uvez) CIP data are available in the computer catalogue of the National and University Library in Zagreb with number 001081642. CIP zapis je dostupan u računalnome katalogu Nacionalne i sveučilišne knjižnice u Zagrebu pod brojem 001081642. ISBN (E-Proceedings / E-Zbornik radova): 978-953-346-149-6 (PDF) TRADE PERSPECTIVES 2020: The interdependence of COVID-19 pandemic and international trade FOREWORD PERSPEKTIVE TRGOVINE 2020.: Međuovisnost COVID-19 pandemije i međunarodne trgovine This publication was the result of international scientific conference “Trade Perspectives EDITORS / UREDNICI: Izv. prof. dr. sc. Tomislav Baković 2020” held at the Faculty of Economics and Business University of Zagreb, Croatia. The Doc. dr. sc. Dora Naletina conference has been taking place annually since 2010, and every year the focus is placed on the Doc. dr. sc. Kristina Petljak selected relevant topic from the area of trade. Due to the unexpected COVID pandemic crises, EDITORIAL BOARD and REVIEWERS /UREĐIVAČKI ODBOR i RECENZENTI: which reviled how vulnerable people, countries, supply chains and economies are, this year the Nikola Knego (Faculty of Economics and Business, University of Zagreb; Croatia), Sanda Soucie (Faculty of Economics and Business, University of Zagreb; Croatia), Tonći Lazibat (Faculty of Economics and Business, University of Zagreb; conference is exploring the interdependence of COVID-19 pandemic and international trade. Croatia), Blaženka Knežević (Faculty of Economics and Business, University of Zagreb; Croatia), Tomislav Baković On the Conference, the various aspects and impact of COVID-19 pandemic on international (Faculty of Economics and Business, University of Zagreb; Croatia), Ines Dužević (Faculty of Economics and Business, University of Zagreb; Croatia), Ivan Kovač (Faculty of Economics and Business, University of Zagreb; Croatia), Dario trade will be discussed. Conference Proceedings of previous years are indexed in EconLit and Dunković (Faculty of Economics and Business, University of Zagreb; Croatia), Dora Naletina (Faculty of Economics and JEL and this year will be submitted for indexation as well. Papers are topically oriented to the Business, University of Zagreb; Croatia), Kristina Petljak (Faculty of Economics and Business, University of Zagreb; Croatia), Ivana Štulec (Faculty of Economics and Business, University of Zagreb; Croatia), Ivan Novak (Faculty of four Conference streams: Supply chain response to COVID-19 pandemic, Country response to Economics and Business, University of Zagreb; Croatia), Mile Bošnjak (Faculty of Economics and Business, University of COVID-19 pandemic, Retail and Tourism response to COVID-19 pandemic and Consumers' Zagreb; Croatia), Ante Vuletić (Faculty of Economics and Business, University of Zagreb; Croatia), Mia Delić (Faculty of Economics and Business, University of Zagreb; Croatia), Mate Damić (Faculty of Economics and Business, University of response to COVID-19 pandemic. Zagreb; Croatia), Marija Jurčević (Faculty of Economics and Business, University of Zagreb; Croatia), Petar Mišević (Croatian Chamber of Economy; University of North Varaždin; Croatia), Dušanka Gajdić (Križevci College of Agriculture; Croatia), Irena Kikerkova (Faculty of Economics Skopje, University St. Cyiril and Methodius; Skopje; Macedonia), Edyta In the stream Supply chain response to COVID-19 pandemic, authors investigate trade Rudawska (Faculty of Economics and Management, University of Szczecin; Szczecin; Poland), Almir Peštek (Faculty of Economics Sarajevo, University of Sarajevo; Bosnia and Herzegovina), Marek Szarucki (Cracow University of Economics; policy measures for strengthening global value chains and local supply chains, the influence of Cracow; Poland), Jelena Stankeviciene (Faculty of Business Management, Vilnius Gediminas Technical University; COVID-19 pandemic onto the international logistics operations management, new Vilnius; Lithuania), Eduardo Tome (Lusiada University of Lisbon; Vila Nova de Famalicao; Portugal), Joaquim Ramos Silva (ISEG Lisbon School of Economics & Management; Portugal), Stipe Lovreta (Faculty of Economics, University of organisational capabilities that foster resilience management implementation and business Belgrade, Serbia), Zdenko Segetlija (Faculty of Economics, Josip Juraj Strossmayer University of Osijek; Croatia),