IDEAS home Printed from https://ideas.repec.org/a/gam/jjrfmx/v14y2021i3p105-d511137.html
   My bibliography  Save this article

Globalization and the Outbreak of COVID-19: An Empirical Analysis

Author

Listed:
  • Mohammad Reza Farzanegan

    (Center for Near and Middle Eastern Studies, School of Business and Economics, Philipps-Universität Marburg, 35032 Marburg, Germany)

  • Mehdi Feizi

    (Faculty of Economic and Administrative Sciences, Ferdowsi University of Mashhad, Mashhad 9177948974, Iran)

  • Hassan F. Gholipour

    (School of Business, Western Sydney University, Sydney, NSW 2150, Australia)

Abstract

The purpose of this study is to examine the relationship between the extension of globalization and coronavirus disease 2019 (COVID-19) case fatality rate (CFR) calculated on 28 July 2020 in more than 150 countries. Our regression analyses show that countries with higher levels of socio-economic globalization are exposed to higher levels of CFR. The positive association between the level of globalization of countries and their COVID-19 fatality rate remains robust, controlling for cross-country differences in economic development and demographics, health care costs, health care capacity, quality of governance and continental dummies.

Suggested Citation

  • Mohammad Reza Farzanegan & Mehdi Feizi & Hassan F. Gholipour, 2021. "Globalization and the Outbreak of COVID-19: An Empirical Analysis," JRFM, MDPI, vol. 14(3), pages 1-10, March.
  • Handle: RePEc:gam:jjrfmx:v:14:y:2021:i:3:p:105-:d:511137
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1911-8074/14/3/105/pdf
    Download Restriction: no

    File URL: https://www.mdpi.com/1911-8074/14/3/105/
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Savina Gygli & Florian Haelg & Niklas Potrafke & Jan-Egbert Sturm, 2019. "The KOF Globalisation Index – revisited," The Review of International Organizations, Springer, vol. 14(3), pages 543-574, September.
    2. Simon J. Evenett, 2020. "Sicken thy neighbour: The initial trade policy response to COVID‐19," The World Economy, Wiley Blackwell, vol. 43(4), pages 828-839, April.
    3. Wisarut Suwanprasert, 2020. "COVID-19 and Endogenous Public Avoidance: Insights from an Economic Model," PIER Discussion Papers 128, Puey Ungphakorn Institute for Economic Research.
    4. Warwick McKibbin & Roshen Fernando, 2021. "The Global Macroeconomic Impacts of COVID-19: Seven Scenarios," Asian Economic Papers, MIT Press, vol. 20(2), pages 1-30, Summer.
    5. N/A, 2001. "The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 176(1), pages 35-60, April.
    6. Andreas Buehn & Mohammad Reza Farzanegan, 2012. "Smuggling around the world: evidence from a structural equation model," Applied Economics, Taylor & Francis Journals, vol. 44(23), pages 3047-3064, August.
    7. Axel Dreher, 2006. "Does globalization affect growth? Evidence from a new index of globalization," Applied Economics, Taylor & Francis Journals, vol. 38(10), pages 1091-1110.
    8. Farzanegan, Mohammad Reza, 2009. "Illegal trade in the Iranian economy: Evidence from a structural model," European Journal of Political Economy, Elsevier, vol. 25(4), pages 489-507, December.
    9. N/A, 2001. "The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 175(1), pages 29-58, January.
    10. Niklas Potrafke, 2015. "The Evidence on Globalisation," The World Economy, Wiley Blackwell, vol. 38(3), pages 509-552, March.
    11. Vincenzo Verardi & Christophe Croux, 2009. "Robust regression in Stata," Stata Journal, StataCorp LP, vol. 9(3), pages 439-453, September.
    12. Smriti Mallapaty, 2020. "What the cruise-ship outbreaks reveal about COVID-19," Nature, Nature, vol. 580(7801), pages 18-18, April.
    13. Sherif. M. Hassan & John M. Riveros Gavilanes, 2021. "First to React Is the Last to Forgive: Evidence from the Stock Market Impact of COVID 19," JRFM, MDPI, vol. 14(1), pages 1-25, January.
    14. Mohammad Reza Farzanegan, 2020. "Ageing Society and SARS-CoV-2 Mortality: Does the Healthcare Absorptive Capacity Matter?," JRFM, MDPI, vol. 13(11), pages 1-13, November.
    Full references (including those not matched with items on IDEAS)

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. 42. Selected Data of Coronavirus in Spain, United States, Europe, America and other areas, year 2020: Statistics of Cases and Hospital beds
      by MCG Blogs de Economía in Euro-American Association: World Development on 2020-05-12 09:25:00

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Michael Bayerlein & Vanessa A. Boese & Scott Gates & Katrin Kamin & Syed Mansoob Murshed, 2021. "Populism and COVID-19: How Populist Governments (Mis)Handle the Pandemic," Journal of Political Institutions and Political Economy, now publishers, vol. 2(3), pages 389-428, December.
    2. Peter A.G. van Bergeijk, 2021. "Pandemic Economics," Books, Edward Elgar Publishing, number 20401.
    3. hafeez, neelam & naseem naik, sadia, 2023. "Economic Consequences of the COVID-19 Eruption: A Study of Selected South Asian Countries," MPRA Paper 117319, University Library of Munich, Germany.
    4. Mohammad Reza Farzanegan, 2020. "Ageing Society and SARS-CoV-2 Mortality: Does the Healthcare Absorptive Capacity Matter?," JRFM, MDPI, vol. 13(11), pages 1-13, November.
    5. Orhan Cengiz & Müge Manga, 2022. "Impact of COVID-19 pandemic on exports: new evidence from selected European Union countries and Turkey," Asia-Pacific Journal of Regional Science, Springer, vol. 6(3), pages 1195-1219, October.
    6. Constantin Anghelache & Mădălina-Gabriela Anghel & Ștefan Virgil Iacob & Mirela Panait & Irina Gabriela Rădulescu & Alina Gabriela Brezoi & Adrian Miron, 2022. "The Effects of Health Crisis on Economic Growth, Health and Movement of Population," Sustainability, MDPI, vol. 14(8), pages 1-22, April.
    7. Vijay Kumar & Hammam Alshazly & Sahar Ahmed Idris & Sami Bourouis, 2021. "Evaluating the Impact of COVID-19 on Society, Environment, Economy, and Education," Sustainability, MDPI, vol. 13(24), pages 1-21, December.
    8. Naudé, Wim, 2020. "Entrepreneurial Recovery from COVID-19: Decentralization, Democratization, Demand, Distribution, and Demography," GLO Discussion Paper Series 631, Global Labor Organization (GLO).
    9. Mohammad Reza Farzanegan & Hans Philipp Hofmann, 2021. "A Matter of Trust? Political Trust and the Covid-19 Pandemic," CESifo Working Paper Series 9121, CESifo.
    10. Galiani, Sebastian, 2022. "Pandemic economics," Journal of Economic Behavior & Organization, Elsevier, vol. 193(C), pages 269-275.
    11. Rajeev K. Goel & Michael A. Nelson, 2021. "Drivers of COVID-19 vaccinations: vaccine delivery and delivery efficiency in the United States," Netnomics, Springer, vol. 22(1), pages 53-69, June.
    12. Mohammad Reza Farzanegan, 2021. "The Effect of Public Corruption on Covid-19 Fatality Rate: A Cross-Country Examination," CESifo Working Paper Series 8938, CESifo.
    13. Algae K. Y. Au & Jacky C. K. Ng & Wesley C. H. Wu & Sylvia Xiaohua Chen, 2023. "Who do we trust and how do we cope with COVID-19? A mixed-methods sequential exploratory approach to understanding supportive messages across 35 cultures," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-14, December.
    14. Goel, Rajeev K. & Nelson, Michael A. & Goel, Viraat Y., 2021. "COVID-19 vaccine rollout—scale and speed carry different implications for corruption," Journal of Policy Modeling, Elsevier, vol. 43(3), pages 503-520.
    15. Christoph von Hagke & Chloe Hill & Angela Hof & Thomas Rinder & Andreas Lang & Jan Christian Habel, 2022. "Learning from the COVID-19 Pandemic Crisis to Overcome the Global Environmental Crisis," Sustainability, MDPI, vol. 14(17), pages 1-8, August.
    16. Naoto Jinji & Xingyuan Zhang & Shoji Haruna, 2022. "Deep Integration, Global Firms, and Technology Spillovers," Advances in Japanese Business and Economics, Springer, number 978-981-16-5210-3, June.
    17. Fabio Giudice & Rocco Caferra & Piergiuseppe Morone, 2020. "COVID-19, the Food System and the Circular Economy: Challenges and Opportunities," Sustainability, MDPI, vol. 12(19), pages 1-15, September.
    18. Mustafa Kamal & Muhammad Usman & Atif Jahanger & Daniel Balsalobre-Lorente, 2021. "Revisiting the Role of Fiscal Policy, Financial Development, and Foreign Direct Investment in Reducing Environmental Pollution during Globalization Mode: Evidence from Linear and Nonlinear Panel Data ," Energies, MDPI, vol. 14(21), pages 1-25, October.
    19. Syed Abul Basher & A. K. Enamul Haque, 2021. "Public policy lessons from the Covid-19 outbreak: How to deal with it in the post-pandemic world?," Journal of Social and Economic Development, Springer;Institute for Social and Economic Change, vol. 23(2), pages 234-247, September.
    20. Rajeev K. Goel & Michael A. Nelson, 2021. "COVID-19 internet vaccination information and vaccine administration: evidence from the United States," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 45(4), pages 716-734, October.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ishak, Phoebe W. & Farzanegan, Mohammad Reza, 2020. "The impact of declining oil rents on tax revenues: Does the shadow economy matter?," Energy Economics, Elsevier, vol. 92(C).
    2. Farzanegan, Mohammad Reza & Hassan, Mai & Badreldin, Ahmed Mohamed, 2020. "Economic liberalization in Egypt: A way to reduce the shadow economy?," Journal of Policy Modeling, Elsevier, vol. 42(2), pages 307-327.
    3. Schulhof, Vera & van Vuuren, Detlef & Kirchherr, Julian, 2022. "The Belt and Road Initiative (BRI): What Will it Look Like in the Future?," Technological Forecasting and Social Change, Elsevier, vol. 175(C).
    4. Mohammad Reza Farzanegan, 2021. "The Effect of Public Corruption on Covid-19 Fatality Rate: A Cross-Country Examination," CESifo Working Paper Series 8938, CESifo.
    5. Markus Brueckner & Ngo Van Long & Joaquin L. Vespignani, 2020. "Non-Gravity Trade," Globalization Institute Working Papers 388, Federal Reserve Bank of Dallas.
    6. Aziz N. Berdiev & Brandon Gomes & James W. Saunoris, 2023. "Revisiting the nexus between globalisation and the shadow economy: Untying the influences of de jure versus de facto globalisation," The World Economy, Wiley Blackwell, vol. 46(1), pages 27-54, January.
    7. Zheng, Mingbo & Feng, Gen-Fu & Feng, Suling & Yuan, Xuemei, 2019. "The road to innovation vs. the role of globalization: A dynamic quantile investigation," Economic Modelling, Elsevier, vol. 83(C), pages 65-83.
    8. Klaus F. Zimmermann & Gokhan Karabulut & Mehmet Huseyin Bilgin & Asli Cansin Doker, 2020. "Inter‐country distancing, globalisation and the coronavirus pandemic," The World Economy, Wiley Blackwell, vol. 43(6), pages 1484-1498, June.
    9. Claudius Gräbner & Philipp Heimberger & Jakob Kapeller & Florian Springholz, 2021. "Understanding economic openness: a review of existing measures," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 157(1), pages 87-120, February.
    10. Nicole Palan & Nadia Simoes & Nuno Crespo, 2021. "Measuring fifty years of trade globalisation," The World Economy, Wiley Blackwell, vol. 44(6), pages 1859-1884, June.
    11. Niklas Potrafke, 2019. "Does Public Sector Outsourcing Decrease Public Employment? Empirical Evidence from OECD Countries," CESifo Economic Studies, CESifo Group, vol. 65(4), pages 464-484.
    12. Ahliman Abbasov, 2019. "Pooled Mean Group Approach to Test the Determinants of Financial Integration: Evidence From OECD and G20 Countries," Research in World Economy, Research in World Economy, Sciedu Press, vol. 10(3), pages 366-370, December.
    13. Batten, Jonathan A. & Bilgin, Mehmet Huseyin & Demir, Ender & Gozgor, Giray, 2023. "Does globalization affect credit market controls?," International Review of Economics & Finance, Elsevier, vol. 85(C), pages 21-43.
    14. Jha, Priyaranjan & Gozgor, Giray, 2019. "Globalization and taxation: Theory and evidence," European Journal of Political Economy, Elsevier, vol. 59(C), pages 296-315.
    15. Sun, Sunny Li & Liang, Hao, 2021. "Globalization and affordability of microfinance," Journal of Business Venturing, Elsevier, vol. 36(1).
    16. Victor-Alexandru Briciu & Cătălina-Ionela Rezeanu & Arabela Briciu, 2020. "Online Place Branding: Is Geography ‘Destiny’ in a ‘Space of Flows’ World?," Sustainability, MDPI, vol. 12(10), pages 1-24, May.
    17. Potrafke, Niklas, 2020. "General or central government? Empirical evidence on political cycles in budget composition using new data for OECD countries," European Journal of Political Economy, Elsevier, vol. 63(C).
    18. Adam, Antonis & Ftergioti, Stamatia, 2019. "Neighbors and friends: How do European political parties respond to globalization?," European Journal of Political Economy, Elsevier, vol. 59(C), pages 369-384.
    19. Timo Mandler & Fabian Bartsch & C. Min Han, 0. "Brand credibility and marketplace globalization: The role of perceived brand globalness and localness," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 0, pages 1-32.
    20. Florian Dorn & Clemens Fuest & Niklas Potrafke, 2022. "Trade openness and income inequality: New empirical evidence," Economic Inquiry, Western Economic Association International, vol. 60(1), pages 202-223, January.

    More about this item

    Keywords

    COVID-19; globalization; case fatality rate;
    All these keywords.

    JEL classification:

    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
    • I15 - Health, Education, and Welfare - - Health - - - Health and Economic Development
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • F68 - International Economics - - Economic Impacts of Globalization - - - Policy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jjrfmx:v:14:y:2021:i:3:p:105-:d:511137. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.