Abstract:

Over two decades of the 21st century abounded in many world-threatening events (the so-called black swans). They made a significant impact on the functioning of society and economy, both internationally and locally. One of such events was the outbreak and spread of the COVID-19 pandemic, and as an effect the so-called coronacrisis. It took a global character, as it covered all countries of our globe, showing the fragility of many civilizational achievements, of faith in the progress and in improvement of living conditions of mankind. The implementation of the concept of global governance may be helpful in neutralizing the consequences of this type of event. The idea of ​​global governance should be understood as a specific set of ways of regulating the problems important for the whole world by institutions (formal and informal) of a public and private nature, where the decision-making body should be a coalition of states, international organizations, non-governmental organizations and other entities acting together to eliminate negative effects of crisis phenomena. It seems that the concept of global governance could significantly contribute to shaping an appropriate fiscal response at the global level in order to eliminate the negative effects of the coronacrisis. We can mention here the elimination of the shortcomings related to the distribution of vaccines between countries, as well as the problems in the area of ​​industry and trade resulting, for example, from the disruption of the supply chain or the consequences of the broadly understood lockdown. Promoting the concept of global governance is therefore extremely desirable, especially in connection with the unquestionable need to organize financial resources (of a global nature) that will be used to reduce the damage caused by such phenomena as, for example, the coronacrisis.