Consumers’ perceptions about the economic and social consequences of the COVID-19 pandemic in Romania
(A2021-94180)

AUTHORS

Mihai Orzan, Bucharest University of Economic Studies; Zara Adina, Bucharest University of Economic Studies, Marketing Faculty; Otilia Platon, Bucharest University of Economic Studies, Marketing Faculty; David Florin Ciocodeica, Bucharest University of Economic Studies, Marketing Faculty

ABSTRACT

In this paper, we examine the consumers’ perceptions regarding the expected economic and social impact of several government actions and changes that occurred in Romania during this pandemic. This paper presents the results of an online survey, conducted on a sample of 1015 respondents, and it aims to validate a proposed conceptual model using structural equation modeling. In order to better understand the possible outcomes of the governmental measures taken in Romania, this paper explores the degree of influence that the pandemic, the economic and administrative measures and the economic events have on the individuals’ professional activity, financial situation, planned expenditures or personal investments for the next 6 to 12 months. The research findings have important implications by showing that the measures taken in Romania during this pandemic have severe economic and social impact and that the Coronavirus pandemic has caused a significant change in people’s behavior.

REFERENCES

This work was supported by a grant of the Romanian Ministry of Research and Innovation, UEFISCDI, project number PN-III-P1-1.2-PCCDI-2017-0800 / 86PCCDI/2018 - FutureWeb, within PNCDI III