Akademik Veri Yönetim Sistemi
Managing Risk and Decision Making in Times of Economic Distress, Part A, S. Grima,E. Ozen,I. Romanova, Editör, Emerald Publishing Limited, Leeds, ss.195-214, 2022
COVID-19 pandemic is among the most important
events of the 21st Century. Its global character and the multi-dimensional
fallouts it has on communities worldwide further increase the importance of the
pandemic. During the period of more than
one year since the declaration of the pandemic, the communities failed to
provide a lasting solution other than the face masks, social distance, and
hygiene. Failure to fight the pandemic
with considerable success subsequently raised the topic of revising the
policymakers’ previous predictions at the start of the pandemic based on
incomplete information. So, the calendar
put forward for the pandemic went forward day by day and the authorities who
failed to adopt a prudent approach were obliged to pay increasingly higher
costs for their mistakes. The financial and economical fallouts of the pandemic
are studied in this Chapter. The policies that were adopted in these countries
have been analyzed from the viewpoint of fiscal stimulus packages and monetary
expansion packages to shed a light on the pandemic experience in the Turkish
economy and formulating policy recommendations. Thus the persistence of the
pandemic pushes all countries to update their current policies and seek new
methods. Countries like the United
States, United Kingdom, and Germany are believed to have taken strong measures
to minimize the damages on the economy due to the pandemic, while other
countries like Russia, India, and Brazil are deemed to have mounded new
policies within the framework of their internal dynamics. One should also note
that, in addition to the individual efforts of each European country, European
Union has also played a decisive role in the policies of its member states for
crisis management institutionally.