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Title of the article Changes in Economic Support Policies During COVID-19 Pandemic in 2022: North-East Asia Countries’ Experience
Pages 45-63
Author Izotov Dmitry AleksandrovichIzotov Dmitry Aleksandrovich
doctor of economics, leading research fellow
Economic Research Institute FEB RAS
153, Tikhookeanskaya Street, Khabarovsk, Russia, 680042
This email address is being protected from spambots. You need JavaScript enabled to view it.
ORCID: 0000-0001-9199-6226
Abstract The review provides an analysis of government policy measures to support the economy in the North-East Asia countries during the COVID-19 pandemic, implemented in 2022 in the face of increasing external risks. It is shown that the internal political processes in the PRC determined the continued implementation of the «zero-COVID» strategy in 2022. It was determined that many measures to stabilize the Chinese economy in 2022 are a continuation of the measures of 2020-2021, for instance state investments in infrastructure projects and social spending. The new measures in the policy of the PRC in 2022 are including: ensuring economic security, stimulating employment for young people, stabilizing regional budgets and the real estate market. The structural problems of the Japanese economy have become significant constraints on the measures taken by government stimulus policy, even in the face of broad political supporting. For this reason, in 2022 the main changes in the measures of government stimulus policy for the Japanese economy were associated with transformations in the labor market and smoothing prices for basic goods. Along with this, the Japanese leadership has been raising capital in digital and green technologies in 2022 to stimulate long-term economic growth. It was shown that in the first half of 2022 the government of the Republic of Korea began to overcome the negative consequences of the COVID-19 pandemic, therefore, it experienced a gradual tightening of monetary and fiscal policy and solving problems in the real estate market. In 2022, the government of the Republic of Korea began to finance programs for the development of an innovative economy, including creating a promising labor market.
Code 339.97
DOI 10.14530/reg.2022.5.45
Keywords government support measures ♦ COVID-19 pandemic ♦ zero-COVID strategy ♦ China ♦ Japan ♦ Republic of Korea
Download 2022-05.45.pdf
For citation Izotov D.A. Changes in Economic Support Policies During COVID-19 Pandemic in 2022: North-East Asia Countries’ Experience. Regionalistica [Regionalistics]. 2022. Vol. 9. No. 5. Pp. 45-63. (In Russian)
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Financing The article was carried out with the financial support of the Ministry of Education and Science of the Khabarovsk Territory (Agreement No. 74c / 2022 of October 27, 2022, on the provision of a grant for the implementation of a project in the field of scientific research in the field of humanities and social sciences in 2022).


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