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COVİD-19 PANDEMİSİNİN ENDÜSTRİYEL ÜRETİM ÜZERİNDEKİ ETKİSİ: AVRUPA BİRLİĞİ’NE ÜYE VE ADAY ÜLKELER ÜZERİNE BİR ARAŞTIRMA

Year 2022, Issue: 51, 117 - 131, 29.06.2022
https://doi.org/10.30794/pausbed.1028416

Abstract

Covid-19 pandemisi, kısa bir süre içerisinde tüm Dünya ekonomileri üzerinde derin bir tahribata yol açmış ve bunun sonucunda ülkelerde resesyon eğilimleri baş göstermiştir. Öyle ki Dünya ekonomisi 2020 yılında yaklaşık olarak %3.6 oranında daralmıştır. Krizin etkilerinin daha yoğun hissedildiği 2020 yılının ikinci çeyreğinde Avrupa Birliği genelinde ekonomi %11.3, Ekonomik İşbirliği ve Kalkınma Teşkilatı (OECD) genelinde ise %10.5 oranında küçülme kaydetmiştir. Krizin endüstriyel üretim üzerindeki etkisi de benzer olmuştur. 2020 yılının ilk çeyreğinde Dünya imalat çıktısı %6, ikinci çeyreğinde %11.2 oranında azalmıştır. Avrupa’da bu azalma %19, yükselen piyasa ekonomilerinde ise yaklaşık %23 düzeylerine kadar çıkmıştır. Bu çalışmada Covid-19 pandemisinin Avrupa Birliği’ne üye ülkeler ile birliğe aday ülkelerin endüstriyel üretimleri üzerindeki etkisi 2020 yılının Mart ayı ile 2021 yılının Aralık dönemini kapsayacak şekilde panel veri yöntemleri kullanılarak analiz edilmiştir. Bulgular, ilgili ülkelerde hem Covid-19 vaka sayılarındaki hem de Covid-19 kaynaklı vefat sayılarındaki artışın endüstriyel üretimi azalttığını göstermiştir.

References

  • Aghion, P., Artus, P., Oliu-Barton, M., ve Pradelski, B. (2021). Aiming for Zero Covid-19 to Ensure Economic Growth. (10.11.2021). https://voxeu.org/article/aiming-zero-covid-19-ensure-economic-growth
  • Albu, L. L., Preda, C. I., Lupu, R., Dobrotă, C. E., Călin, G. M., ve Boghicevici, C. M. (2020). “Estimates of Dynamics of the Covid-19 Pandemic and of its Impact on the Economy”. Romanian Journal of Economic Forecasting, 23(2), 5-17.
  • Asare, P., ve Barfi, R. (2021). “The Impact of Covid-19 Pandemic on the Global Economy: Emphasis on Poverty Alleviation and Economic Growth”. Economics, 8(1), 32-43.
  • Apergis, E., ve Apergis, N., (2021). “The Impact of COVID-19 on Economic Growth: Evidence From a Bayesian Panel Vector Autoregressive (BPVAR) Model” Applied Economics, doi: 10.1080/00036846.2021.1946479.
  • Bakas, D., Panagiotidis, T., ve Pelloni, G. (2017). “Regional and Sectoral Evidence of the Macroeconomic Effects of Labor Reallocation: A Panel Data Analysis”. Economic Inquiry, 55(1), 501-526.
  • Bank of America (2021), Manufacturing trends: Coronavirus Impact on Manufacturing Industry, (04.10.2021). https://business.bofa.com/en-us/content/coronavirus-impact-on-manufacturing-industry.html
  • Boston College (2021), Department of Economics, Statistical Software Components. (02.11.2021). http://fmwww.bc.edu/RePEc/bocode/x/xtmg.html
  • Eberhardt, M., ve Bond, S., (2009). Cross-Section Dependence in Nonstationary Panel Models: A Novel Estimator. Nordic Econometrics Conference, Lund, October 29-31.
  • Eberhardt, M., ve Teal, F., (2010). Productivity Analysis in Global Manufacturing Production. Discussion Paper 515. Department of Economics, University of Oxford. Retrieved November 3, 2021 http://www.economics.ox.ac.uk/research/WP/pdf/paper515.pdf
  • Eberhardt, M. (2012). “Estimating Panel Time-Series Models With Heterogeneous Slopes”, Stata Journal, 12: 61–71.
  • Fernald, J., ve Li, H. (2021). “The Impact of COVID on Potential Output”. Federal Reserve Bank of San Francisco.
  • Fotis, P., & Polemis, M. (2018). “The Impact of Market Deregulation on Milk Price: A Dynamic Panel Data Approach”. MPRA Paper No. 86542.
  • Gondwe, G. (2020). Assessing the impact of COVID-19 on Africa’s economic development. Retrieved November 13, 2021 https://unctad.org/system/files/official-document/aldcmisc2020d3_en.pdf
  • Le, H. P. (2020). “The Energy-Growth Nexus Revisited: The Role of Financial Development, Institutions, Government Expenditure and Trade Openness”. Heliyon, 6(7), e04369.
  • Oliverwyman (2021), Manufacturing Industries and Covid-19. Retrieved November 5, 2021 https://www.oliverwyman.com/our-expertise/insights/2020/jun/manufacturing-industries-and-covid-19.html
  • Pesaran, M. H. ve Yamagata, T. (2008). “Testing Slope Homogeneity in Large Panels”. Journal of Econometrics, 142(1), 50–93.
  • Pesaran, M. H. (2004). “General Diagnostic Tests for Cross Section Dependence in Panels”. Cambridge Working Papers in Economics. doi:10.17863/CAM.5113.
  • Pesaran, M.H., (2007). “A Simple Panel Unit Root Test in The Presence of Cross Section Dependence”. J. Appl. Econom. 22, 265–312.
  • PWC (2020), Impact of COVID-19 on the Supply Chain Industry. (01. 11. 2021) https://www.pwc.com/ng/en/assets/pdf/impact-of-covid19-the-supply-chain-industry.pdf
  • Sahoo, P., ve Ashwani. (2020). “COVID-19 and Indian Economy: Impact on Growth, Manufacturing, Trade and MSME Sector”. Global Business Review, 21(5), 1159-1183.
  • Soava, G., Mehedintu, A., Sterpu, M., ve Grecu, E. (2021). “The Impact of the COVID-19 Pandemic on Electricity Consumption and Economic Growth in Romania”. Energies, 14(9), 2394.
  • Tenaw, D. (2020). Is Carbon Decoupling Likely to Happen in Africa: Evidence From Production and Consumption-based Carbon Emissions. Retrieved November 7, 2021 https://assets.researchsquare.com/files/rs-35687/v1_covered.pdf?c=1631835990
  • Teresienė, D., Keliuotytė-Staniulėnienė, G., ve Kanapickienė, R. (2021). “Sustainable Economic Growth Support through Credit Transmission Channel and Financial Stability: In the Context of the COVID-19 Pandemic”. Sustainability, 13(5), 2692.
  • UNIDO (2020), World Manufacturing Production Statistics for Quarter II 2020. (7. 11. 2021) https://www.unido.org/sites/default/files/files/2020-09/World_manufacturing_production_2020_Q2%20%281%29.pdf Erişim Tarihi: 09.10.2021.
  • Wang, Q., ve Zhang, F., (2021). “What Does the China’s Economic Recovery After COVID-19 Pandemic Mean for the Economic Growth and Energy Consumption of Other Countries?”. Journal of Cleaner Production, Volume 295.
  • WEF (2020), The Impact of COVID-19 on the Future of Advanced Manufacturing and Production Insights from the World Economic Forum’s Global Network of Advanced Manufacturing Hubs, (11. 11. 2021) https://www3.weforum.org/docs/WEF_AMHUB_Insight_Paper_2020.pdf

THE EFFECT OF THE COVID-19 PANDEMIC ON INDUSTRIAL PRODUCTION: AN INVESTIGATION ON MEMBER AND CANDIDATE COUNTRIES OF THE EUROPEAN UNION

Year 2022, Issue: 51, 117 - 131, 29.06.2022
https://doi.org/10.30794/pausbed.1028416

Abstract

The Covid-19 pandemic in a short time has brought a deep destruction on all the world's economies, and therefore, recession tendencies appeared in the countries. In fact, the world economy contracted by nearly 3.6% in 2020. The impact of the crisis on industrial production was similar. In the second quarter of 2020, when the effects of the crisis were felt more intensely, the economy shrank by 11.3% across the European Union and by 10.5% across the Organization for Economic Co-operation and Development (OECD). World manufacturing output decreased by 6% in the first quarter of 2020 and by 11.2% in the second quarter. This decrease reached 19% in Europe and 23% in emerging market economies. In this study, the effect of the Covid-19 pandemic on the industrial production of the European Union member countries and candidate countries was analyzed using panel data methods, covering the period between March 2020 and December 2021. The findings revealed that the increase in both the number of Covid-19 cases and the number of deaths from Covid-19 in the relevant countries decreased industrial production.

References

  • Aghion, P., Artus, P., Oliu-Barton, M., ve Pradelski, B. (2021). Aiming for Zero Covid-19 to Ensure Economic Growth. (10.11.2021). https://voxeu.org/article/aiming-zero-covid-19-ensure-economic-growth
  • Albu, L. L., Preda, C. I., Lupu, R., Dobrotă, C. E., Călin, G. M., ve Boghicevici, C. M. (2020). “Estimates of Dynamics of the Covid-19 Pandemic and of its Impact on the Economy”. Romanian Journal of Economic Forecasting, 23(2), 5-17.
  • Asare, P., ve Barfi, R. (2021). “The Impact of Covid-19 Pandemic on the Global Economy: Emphasis on Poverty Alleviation and Economic Growth”. Economics, 8(1), 32-43.
  • Apergis, E., ve Apergis, N., (2021). “The Impact of COVID-19 on Economic Growth: Evidence From a Bayesian Panel Vector Autoregressive (BPVAR) Model” Applied Economics, doi: 10.1080/00036846.2021.1946479.
  • Bakas, D., Panagiotidis, T., ve Pelloni, G. (2017). “Regional and Sectoral Evidence of the Macroeconomic Effects of Labor Reallocation: A Panel Data Analysis”. Economic Inquiry, 55(1), 501-526.
  • Bank of America (2021), Manufacturing trends: Coronavirus Impact on Manufacturing Industry, (04.10.2021). https://business.bofa.com/en-us/content/coronavirus-impact-on-manufacturing-industry.html
  • Boston College (2021), Department of Economics, Statistical Software Components. (02.11.2021). http://fmwww.bc.edu/RePEc/bocode/x/xtmg.html
  • Eberhardt, M., ve Bond, S., (2009). Cross-Section Dependence in Nonstationary Panel Models: A Novel Estimator. Nordic Econometrics Conference, Lund, October 29-31.
  • Eberhardt, M., ve Teal, F., (2010). Productivity Analysis in Global Manufacturing Production. Discussion Paper 515. Department of Economics, University of Oxford. Retrieved November 3, 2021 http://www.economics.ox.ac.uk/research/WP/pdf/paper515.pdf
  • Eberhardt, M. (2012). “Estimating Panel Time-Series Models With Heterogeneous Slopes”, Stata Journal, 12: 61–71.
  • Fernald, J., ve Li, H. (2021). “The Impact of COVID on Potential Output”. Federal Reserve Bank of San Francisco.
  • Fotis, P., & Polemis, M. (2018). “The Impact of Market Deregulation on Milk Price: A Dynamic Panel Data Approach”. MPRA Paper No. 86542.
  • Gondwe, G. (2020). Assessing the impact of COVID-19 on Africa’s economic development. Retrieved November 13, 2021 https://unctad.org/system/files/official-document/aldcmisc2020d3_en.pdf
  • Le, H. P. (2020). “The Energy-Growth Nexus Revisited: The Role of Financial Development, Institutions, Government Expenditure and Trade Openness”. Heliyon, 6(7), e04369.
  • Oliverwyman (2021), Manufacturing Industries and Covid-19. Retrieved November 5, 2021 https://www.oliverwyman.com/our-expertise/insights/2020/jun/manufacturing-industries-and-covid-19.html
  • Pesaran, M. H. ve Yamagata, T. (2008). “Testing Slope Homogeneity in Large Panels”. Journal of Econometrics, 142(1), 50–93.
  • Pesaran, M. H. (2004). “General Diagnostic Tests for Cross Section Dependence in Panels”. Cambridge Working Papers in Economics. doi:10.17863/CAM.5113.
  • Pesaran, M.H., (2007). “A Simple Panel Unit Root Test in The Presence of Cross Section Dependence”. J. Appl. Econom. 22, 265–312.
  • PWC (2020), Impact of COVID-19 on the Supply Chain Industry. (01. 11. 2021) https://www.pwc.com/ng/en/assets/pdf/impact-of-covid19-the-supply-chain-industry.pdf
  • Sahoo, P., ve Ashwani. (2020). “COVID-19 and Indian Economy: Impact on Growth, Manufacturing, Trade and MSME Sector”. Global Business Review, 21(5), 1159-1183.
  • Soava, G., Mehedintu, A., Sterpu, M., ve Grecu, E. (2021). “The Impact of the COVID-19 Pandemic on Electricity Consumption and Economic Growth in Romania”. Energies, 14(9), 2394.
  • Tenaw, D. (2020). Is Carbon Decoupling Likely to Happen in Africa: Evidence From Production and Consumption-based Carbon Emissions. Retrieved November 7, 2021 https://assets.researchsquare.com/files/rs-35687/v1_covered.pdf?c=1631835990
  • Teresienė, D., Keliuotytė-Staniulėnienė, G., ve Kanapickienė, R. (2021). “Sustainable Economic Growth Support through Credit Transmission Channel and Financial Stability: In the Context of the COVID-19 Pandemic”. Sustainability, 13(5), 2692.
  • UNIDO (2020), World Manufacturing Production Statistics for Quarter II 2020. (7. 11. 2021) https://www.unido.org/sites/default/files/files/2020-09/World_manufacturing_production_2020_Q2%20%281%29.pdf Erişim Tarihi: 09.10.2021.
  • Wang, Q., ve Zhang, F., (2021). “What Does the China’s Economic Recovery After COVID-19 Pandemic Mean for the Economic Growth and Energy Consumption of Other Countries?”. Journal of Cleaner Production, Volume 295.
  • WEF (2020), The Impact of COVID-19 on the Future of Advanced Manufacturing and Production Insights from the World Economic Forum’s Global Network of Advanced Manufacturing Hubs, (11. 11. 2021) https://www3.weforum.org/docs/WEF_AMHUB_Insight_Paper_2020.pdf
There are 26 citations in total.

Details

Primary Language Turkish
Subjects Economics
Journal Section Research Article
Authors

Efe Can Kılınç 0000-0002-3139-0684

Early Pub Date July 18, 2022
Publication Date June 29, 2022
Acceptance Date April 13, 2022
Published in Issue Year 2022 Issue: 51

Cite

APA Kılınç, E. C. (2022). COVİD-19 PANDEMİSİNİN ENDÜSTRİYEL ÜRETİM ÜZERİNDEKİ ETKİSİ: AVRUPA BİRLİĞİ’NE ÜYE VE ADAY ÜLKELER ÜZERİNE BİR ARAŞTIRMA. Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi(51), 117-131. https://doi.org/10.30794/pausbed.1028416
AMA Kılınç EC. COVİD-19 PANDEMİSİNİN ENDÜSTRİYEL ÜRETİM ÜZERİNDEKİ ETKİSİ: AVRUPA BİRLİĞİ’NE ÜYE VE ADAY ÜLKELER ÜZERİNE BİR ARAŞTIRMA. PAUSBED. June 2022;(51):117-131. doi:10.30794/pausbed.1028416
Chicago Kılınç, Efe Can. “COVİD-19 PANDEMİSİNİN ENDÜSTRİYEL ÜRETİM ÜZERİNDEKİ ETKİSİ: AVRUPA BİRLİĞİ’NE ÜYE VE ADAY ÜLKELER ÜZERİNE BİR ARAŞTIRMA”. Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, no. 51 (June 2022): 117-31. https://doi.org/10.30794/pausbed.1028416.
EndNote Kılınç EC (June 1, 2022) COVİD-19 PANDEMİSİNİN ENDÜSTRİYEL ÜRETİM ÜZERİNDEKİ ETKİSİ: AVRUPA BİRLİĞİ’NE ÜYE VE ADAY ÜLKELER ÜZERİNE BİR ARAŞTIRMA. Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi 51 117–131.
IEEE E. C. Kılınç, “COVİD-19 PANDEMİSİNİN ENDÜSTRİYEL ÜRETİM ÜZERİNDEKİ ETKİSİ: AVRUPA BİRLİĞİ’NE ÜYE VE ADAY ÜLKELER ÜZERİNE BİR ARAŞTIRMA”, PAUSBED, no. 51, pp. 117–131, June 2022, doi: 10.30794/pausbed.1028416.
ISNAD Kılınç, Efe Can. “COVİD-19 PANDEMİSİNİN ENDÜSTRİYEL ÜRETİM ÜZERİNDEKİ ETKİSİ: AVRUPA BİRLİĞİ’NE ÜYE VE ADAY ÜLKELER ÜZERİNE BİR ARAŞTIRMA”. Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi 51 (June 2022), 117-131. https://doi.org/10.30794/pausbed.1028416.
JAMA Kılınç EC. COVİD-19 PANDEMİSİNİN ENDÜSTRİYEL ÜRETİM ÜZERİNDEKİ ETKİSİ: AVRUPA BİRLİĞİ’NE ÜYE VE ADAY ÜLKELER ÜZERİNE BİR ARAŞTIRMA. PAUSBED. 2022;:117–131.
MLA Kılınç, Efe Can. “COVİD-19 PANDEMİSİNİN ENDÜSTRİYEL ÜRETİM ÜZERİNDEKİ ETKİSİ: AVRUPA BİRLİĞİ’NE ÜYE VE ADAY ÜLKELER ÜZERİNE BİR ARAŞTIRMA”. Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, no. 51, 2022, pp. 117-31, doi:10.30794/pausbed.1028416.
Vancouver Kılınç EC. COVİD-19 PANDEMİSİNİN ENDÜSTRİYEL ÜRETİM ÜZERİNDEKİ ETKİSİ: AVRUPA BİRLİĞİ’NE ÜYE VE ADAY ÜLKELER ÜZERİNE BİR ARAŞTIRMA. PAUSBED. 2022(51):117-31.