The impact of the pandemic on the growth of the number of «zombie companies» and «zombie lending» in the Russian market

The article discusses approaches to the concept of «zombie companies». The characteristics of the features of lending to «zombie companies» are given. The reasons for the emergence of «zombie companies» in the Russian market are analyzed. The article reveals the financial and economic indicators characteristic of «zombie companies», examines the peculiarities of the existence and functioning of «zombie companies» in the pre-crisis and crisis period. The role of banks in financing «zombie companies», the influence of the key rate on the number of zombie companies is outlined. The characteristics of the «zombie companies» that exist today on the stock market are given. Companies that have turned into «zombie companies» after the COVID-19 pandemic have been identified. An equation is given and described that allows one to estimate the share of «zombie companies» and their negative impact on the example of Japan. A study was carried out of the relationship between the key rate and the number of loans issued in Russia from January 2019 to December 2020. This work was written based on the results of an analysis of theoretical literature and works of economists on the relevant topic. As a result of the work, the negative effect of the share of «zombie companies» in the state economy was identified and described. A forecast of economic recovery in various countries after the pandemic and the influence of «zombie companies» on this process has been made. An assessment of the further development of key rates and the level of inflation is given.