How the Covid-19 Pandemic Affects Sustainable Development: The Impact on the Social, Economic and Energy Parameters of Sustainable Development

  • Viktoriya Martynets Oleg Balatskyi Department of Management, Academic and Research Institute of Business, Economics and Management, Sumy State University, Sumy, Ukraine https://orcid.org/0000-0002-6932-9790
  • Yuliia Opanasiuk Oleg Balatskyi Department of Management, Academic and Research Institute of Business, Economics and Management, Sumy State University, Sumy, Ukraine
  • Yuliia Matvieieva Oleg Balatskyi Department of Management, Academic and Research Institute of Business, Economics and Management, Sumy State University, Sumy, Ukraine https://orcid.org/0000-0002-3082-5551
Keywords: Economic, energy and social parameters of sustainable development, Sustainable Development Goals, social and economic development, the Covid-19 pandemic, GDP, forecasting, crisis

Abstract

The Covid-19 pandemic has been a challenge for all countries of the world. Although the most negative impact was on public health, the pandemic also caused damage to the economic, social and energy sectors.

The research puts forward a hypothesis about the differentiation of countries due to the impact of the Covid-19 pandemic on the economic, social and energy parameters of sustainable development. A negative impact on indicators such as GDP, the number of unemployed, electricity generation was identified.

The following methods were used in the article to analyze the impact of the Covid-19 pandemic on the economic, social and energy parameters of sustainable development: systems analysis, deductive approach, regression and correlation analysis and extrapolation.

Theoretical and empirical research show that the economies of countries were not ready for the negative transformation processes caused by the quarantine restrictions. The after-effects of the pandemic will manifest themselves for the long period without concerted action of governments, businesses and the international community. It will negatively affect the social and economic development of countries and undermine the progress towards achieving the sustainable development goals until 2030.

This article will be useful for researchers, political elite and international organizations while developing the anti-crisis programs and programs for the social and economic development of the countries.

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Author Biographies

Viktoriya Martynets, Oleg Balatskyi Department of Management, Academic and Research Institute of Business, Economics and Management, Sumy State University, Sumy, Ukraine

Viktoriya Martynets graduated from Sumy State University with a master’s degree in “Management of Organizations” and a PhD in “Economics and management of enterprises (by types of economic activity)”. The topic of the dissertation “Management of transaction costs of industrial enterprise”.

Currently, she works as an Senior Lecturer at the Oleg Balatskyi Department of Management, Sumy State University (Ukraine). She is a Ukrainian Association member for the Development of Management and Business Education (UARMBO) from 2020. Her research focuses on diagnosis of crisis, socio-economic development, institutional economics. She is author of more than 70 papers. More information at https://management.biem.sumdu.edu.ua/en/martynets.

Yuliia Opanasiuk, Oleg Balatskyi Department of Management, Academic and Research Institute of Business, Economics and Management, Sumy State University, Sumy, Ukraine

Yuliia Opanasiuk graduated from Sumy State University with a master’s degree in “Economy of the enterprise” and a PhD in “Environmental Economics and Natural Resources Protection”. The topic of the dissertation – “Ecological and economic evaluation of man-made disasters”. Grant activities: “Business security: national and global aspects” (Information System Management University, Riga, Latvia, 2019), “Health recreation in urban agglomerations (within the CSF achievements in Ukraine)” (grant of the President of Ukraine – responsible executor, 2019), “Survey of 800 vulnerable households in 24 oblasts and the city of Kyiv” (Agreement No. UKR/2021/661 of 22 November 2021) with the support of the United Nations Development Program in Ukraine.

Currently, she works as an Senior Lecturer at the Oleg Balatskyi Department of Management, Sumy State University (Ukraine). She is a Ukrainian Association member for the Development of Management and Business Education (UARMBO) from 2020. Her research focuses on Economy disasters, Public administration. She is author of more than 60 papers. More information at https://management.fem.sumdu.edu.ua/en/opanasiuk.

Yuliia Matvieieva, Oleg Balatskyi Department of Management, Academic and Research Institute of Business, Economics and Management, Sumy State University, Sumy, Ukraine

Yuliia Matvieieva graduated from Sumy State University with a master’s degree in “Management of Organizations” and a PhD in “Environmental Economics and Natural Resources Protection”. The topic of the dissertation – “Ecologically oriented management of administrative-territorial units’ socio-economic development”. Grant activities: The Ukrainian-France R&D joint project for the period of 2015–2016. Topic: “The Recovery of Sustainable Competitiveness of National Economy: Ecological Imperative and Corporate Responsibility”.

Currently, she works as an Senior Lecturer at the Oleg Balatskyi Department of Management, Sumy State University (Ukraine). She is a Ukrainian Association member for the Development of Management and Business Education (UARMBO) from 2020. Her research focuses on diagnosis of social, economic and ecological systems; smart Grid-technology; inequality and socio-economic drivers. She is author of more than 85 papers. More information at https://management.fem.sumdu.edu.ua/en/matvieieva.

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Published
2022-09-30
Section
Articles