Open AccessECONOMIC AND LEGAL WAYS OF PANDEMIC RISK MANAGEMENT
Author(s) -
Виталий Георгиевич Олюха
Publication year - 2020
Publication title -
ekonomìka ta pravo
Language(s) - English
Resource type - Journals
eISSN - 2523-4838
pISSN - 1681-6277
DOI - 10.15407/econlaw.2020.04.012
Subject(s) - risk management , pandemic , business , profit (economics) , legislation , control (management) , actuarial science , risk analysis (engineering) , order (exchange) , financial risk management , risk management tools , risk assessment , public economics , economics , covid-19 , finance , political science , microeconomics , medicine , disease , management , pathology , infectious disease (medical specialty) , law
The article is devoted to the research of pandemic risk. Its characteristic features are considered: scale, inability to accurately determine the duration, compulsion, spontaneity, the ability to generate other types of risks, high losses, significant impact on the economy and individual businesses. It is concluded that pandemic risk is an objective-subjective category. The possibility of pandemic risk management at the macro- and microeconomic levels is proved. Pandemic risk management at the macroeconomic level is seen as a process aimed at identifying, identifying, assessing pandemic risk, which is carried out on the basis of constant exchange of information between risk assessors, risk managers, stakeholders, selection and implementation of relevant management (control) tools, including regulatory measures, impact on risk in order to avoid, control, minimize or distribute its consequences. Pandemic risk management at the microeconomic level is defined as the activities of economic entities aimed at analyzing, forecasting and assessing the probability of risk in uncertainty with the choice of preventive measures to minimize possible property losses, and in case of their occurrence – the distribution of such losses participants in economic relations, and in some cases, making a profit as a result of proper pandemic risk management. In the conditions of insufficiency of budgetary resources the most expedient for management of pandemic risk are economic and legal ways of indirect state support: changes to the legislation on regulation of economic activity; simplification of permitting and customs procedures; adoption of programs to overcome the negative economic consequences caused by the pandemic; moratorium on inspections of small and medium-sized businesses. Ways of direct state support – tax and customs preferences; exemptions from taxes and fees should be used sparingly. At the microeconomic level, the economic and legal ways of managing pandemic risk are the economic agreement and plans for economic development of the enterprise.