THE FORMATION OF FISCAL SPACE WHILE OVERCOMING VACCINE NATIONALISM AND ENSURING SUSTAINABILITY OF DEVELOPMENT
Keywords:COVID-19 pandemic, vaccination, global public good, vaccine nationalism, fiscal space, and economic recovery
Introduction. The COVID-19 pandemic has caused the worst global economic and social crisis in recent decades. In such circumstances, the global community has been developing and taking measures to overcome the pandemic, one of which should be a rapid and unprecedented by scale vaccination of the population.
Problem Statement. Under conditions of intensive spread of the coronavirus infection, vaccination can halt it and become a factor of gradual economic recovery.
Purpose. Analysis of the preconditions and features of the development of fiscal space to ensure vaccination against COVID-19 in Ukraine, as one of the most important factors of this country’s economic recovery in the current conditions of the global vaccine market.
Materials and Methods. Comparative analysis and theoretical generalization of developments and trends in the global market of vaccines against COVID-19 in current scholarly research and practical publications, as well as analysis of official statistics and analytical materials of the State Statistics Service of Ukraine, the United Nations, the World Health Organization.
Results. The authors have identified the current trends in the global market of vaccines against COVID-19, which have signs of fierce competition in conditions of insufficient production capacity and shortage of vaccines. The research has shown the contradictions between the emergence of the vaccine’s status of a global public good and the vaccine nationalism. The authors have assessed the needs to expand Ukraine’s fiscal space in order to carry out a successful vaccination of this country’s population against COVID-19 in various alternative scenarios, with due consideration of the priorities of the coverage of particular population groups.
Conclusions. Creating a proper fiscal space for vaccination is one of the central elements of the fight against COVID-19. Such a vaccination would allow carrying out a gradual phased preventive immunization, breaking the chain of contagion, and attaining an economic recovery without repeated lockdowns.
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