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The Effectiveness of Russian Government Policy to Support SMEs in the COVID-19 Pandemic

This study was aimed at developing a cognitive—econometric model for assessing the effectiveness of the current governmental policies to support enterprises in Russia in the context of pandemic propagation. Using the Granger test and correlation analysis, we formed a system of key indicators that ch...

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Autores principales: Razumovskaia, Elena, Yuzvovich, Larisa, Kniazeva, Elena, Klimenko, Mikhail, Shelyakin, Valeriy
Formato: Online Artículo Texto
Lenguaje:English
Publicado: the authors. Published by Elsevier Ltd 2020
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9906474/
http://dx.doi.org/10.3390/joitmc6040160
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author Razumovskaia, Elena
Yuzvovich, Larisa
Kniazeva, Elena
Klimenko, Mikhail
Shelyakin, Valeriy
author_facet Razumovskaia, Elena
Yuzvovich, Larisa
Kniazeva, Elena
Klimenko, Mikhail
Shelyakin, Valeriy
author_sort Razumovskaia, Elena
collection PubMed
description This study was aimed at developing a cognitive—econometric model for assessing the effectiveness of the current governmental policies to support enterprises in Russia in the context of pandemic propagation. Using the Granger test and correlation analysis, we formed a system of key indicators that characterizes the economic development of SMEs (small and medium-sized enterprises) in Russia. Based on the revealed causal relationships and correlation coefficients, a model describing the impact of public policy support instruments on SME economic development was built using cognitive modeling. By means of the additive convolution method, the correlation coefficient between the Russia Small Business Index (RSBI) and the COVID-19 prevalence rate was used to predict the 2020 year-end RSBI value. Regarding the RSBI index forecast, the effectiveness of instruments of the state support for SMEs was evaluated. It was determined how much these indicators of the anti-crisis package of measures should change to increase SMEs’ business activities. The developed cognitive model can be utilized by private and governmental institutions to continuously monitor the effectiveness of public policies that support SMEs. It can also be used as a preventive indicator to evaluate the impact of the anti-crisis measures during pandemics and in the case of other exogenous risks threatening SMEs. The originality of the research results was determined by the econometric methods applied to empirically assess the effectiveness and degree of impact of governmental measures on the operation of SMEs under conditions of uncertainty.
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spelling pubmed-99064742023-02-08 The Effectiveness of Russian Government Policy to Support SMEs in the COVID-19 Pandemic Razumovskaia, Elena Yuzvovich, Larisa Kniazeva, Elena Klimenko, Mikhail Shelyakin, Valeriy Journal of Open Innovation: Technology, Market, and Complexity Article This study was aimed at developing a cognitive—econometric model for assessing the effectiveness of the current governmental policies to support enterprises in Russia in the context of pandemic propagation. Using the Granger test and correlation analysis, we formed a system of key indicators that characterizes the economic development of SMEs (small and medium-sized enterprises) in Russia. Based on the revealed causal relationships and correlation coefficients, a model describing the impact of public policy support instruments on SME economic development was built using cognitive modeling. By means of the additive convolution method, the correlation coefficient between the Russia Small Business Index (RSBI) and the COVID-19 prevalence rate was used to predict the 2020 year-end RSBI value. Regarding the RSBI index forecast, the effectiveness of instruments of the state support for SMEs was evaluated. It was determined how much these indicators of the anti-crisis package of measures should change to increase SMEs’ business activities. The developed cognitive model can be utilized by private and governmental institutions to continuously monitor the effectiveness of public policies that support SMEs. It can also be used as a preventive indicator to evaluate the impact of the anti-crisis measures during pandemics and in the case of other exogenous risks threatening SMEs. The originality of the research results was determined by the econometric methods applied to empirically assess the effectiveness and degree of impact of governmental measures on the operation of SMEs under conditions of uncertainty. the authors. Published by Elsevier Ltd 2020-12 2022-12-31 /pmc/articles/PMC9906474/ http://dx.doi.org/10.3390/joitmc6040160 Text en © 2020 the authors. Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active.
spellingShingle Article
Razumovskaia, Elena
Yuzvovich, Larisa
Kniazeva, Elena
Klimenko, Mikhail
Shelyakin, Valeriy
The Effectiveness of Russian Government Policy to Support SMEs in the COVID-19 Pandemic
title The Effectiveness of Russian Government Policy to Support SMEs in the COVID-19 Pandemic
title_full The Effectiveness of Russian Government Policy to Support SMEs in the COVID-19 Pandemic
title_fullStr The Effectiveness of Russian Government Policy to Support SMEs in the COVID-19 Pandemic
title_full_unstemmed The Effectiveness of Russian Government Policy to Support SMEs in the COVID-19 Pandemic
title_short The Effectiveness of Russian Government Policy to Support SMEs in the COVID-19 Pandemic
title_sort effectiveness of russian government policy to support smes in the covid-19 pandemic
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9906474/
http://dx.doi.org/10.3390/joitmc6040160
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