10 августа
2020

At the beginning of 2020, the world community has faced the problem of the coronavirus, which, in the context of significant globalization of the world economy, quickly spread from China around the world, leading to a sharp slowdown in global economic growth.

COVID-19 has produced the worst of times in the U.S. Over 150,000 Americans have died from the disease, which will likely kill 250,000 U.S. citizens by the end of the year. Millions of Americans may experience prolonged illness from the disease. The economy is in free fall with 2nd quarter GDP down 33 percent on an annual basis. The economic collapse is colossal compared to the Great Recession and far worse than the early stages of The Great Depression. Business bankruptcies are poised to explode. And the actual and potential closure of the U.S. economy to global trade is reminiscent of the 1930s.

For Russia, the consequences of the pandemic, in addition to the decrease in export demand and strict quarantine measures, are compounded by a sharp drop in oil prices in the face of difficult negotiations with OPEC + and the need to limit oil production. All this necessitates active anti-crisis policy, which should include not only the support of the affected economic agents, but the intensification of different structural reforms aimed at accelerating the potential (structural) economic growth rates. At the same time, the possibilities of a significant fiscal stimulus are narrow due to the contraction of government revenues, limited borrowing opportunities and the rapid depletion of the National Welfare Fund in the event of a prolonged coronavirus pandemic.

The aim of the workshop is to analyze the first lessons of the epidemiological crisis, their impact on previous trends in economic development, and discuss the problems that economies may face in the future. The seminar will discuss health and economic issues, best experience in responding to the challenges posed by the pandemic, fiscal and monetary policy, as well as prospects for further development. Also, at the workshop the published by the Gaidar Institute monograph “Economic Policy in Russia. Turbulent Decade 2008–2018” will be presented.

Speakers

  • A. Auzan, Dr., Professor, Moscow State University
  • G. Idrisov, Dr., Assistant to the Prime Minister of the Russian Federation
  • L. Kotlikoff, Dr., Professor, Boston University
  • А. Kudrin, Dr., Chairman of the Accounts Chamber of the Russian Federation
  • V. Mau, Dr., Professor, rector of the RANEPA
  • J. Sachs, Dr., Professor, Columbia University

Date: August 10, 2020

Time: 17:00

Format: online event (Zoom)

Access: A link to join the event will be sent to registered participants on the day of the event.

Contacts:

Bulatova Elena Alexandrovna
Leading Specialist of the Research Organization Department
Department of State Assignment Coordination, RANEPA
Email:

Registration for the online workshop “Impact of the epidemiological crisis on economic development”

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Президентская академия – национальная школа управления
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