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Impact of Economic Factors and Policy Interventions on the COVID-19 Pandemic

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  • Yupeng Li

    (Department of Political Science and Economics, Rowan University, Glassboro, NJ 08028, USA)

  • Kul Prasad Kapri

    (Department of Political Science and Economics, Rowan University, Glassboro, NJ 08028, USA)

Abstract

This paper studies how policy interventions and economic factors affect COVID-19 infections and deaths, using generalized linear regression (GLM) models. We seek to explain the containment differences by countries’ inherent economic factors, especially the labor market structure, utilizing data from multiple sources. The results show that countries heavily relying on the service sector and international trade suffer more from the spreading, possibly due to the fact that COVID-19 is a communicable disease and spreads quickly through physical contact. Further, we find that these countries could benefit more from stringent policies compared to others.

Suggested Citation

  • Yupeng Li & Kul Prasad Kapri, 2021. "Impact of Economic Factors and Policy Interventions on the COVID-19 Pandemic," Sustainability, MDPI, vol. 13(22), pages 1-18, November.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:22:p:12874-:d:684329
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    References listed on IDEAS

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    1. Thomas Hale & Noam Angrist & Rafael Goldszmidt & Beatriz Kira & Anna Petherick & Toby Phillips & Samuel Webster & Emily Cameron-Blake & Laura Hallas & Saptarshi Majumdar & Helen Tatlow, 2021. "A global panel database of pandemic policies (Oxford COVID-19 Government Response Tracker)," Nature Human Behaviour, Nature, vol. 5(4), pages 529-538, April.
    2. Andreas Breitenfellner & Antje Hildebrandt, 2006. "High Employment with Low Productivity? The Service Sector as a Determinant of Economic Development," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 1, pages 110-135.
    3. Schellekens,Philip & Sourrouille,Diego M., 2020. "COVID-19 Mortality in Rich and Poor Countries : A Tale of Two Pandemics ?," Policy Research Working Paper Series 9260, The World Bank.
    4. Demombynes,Gabriel, 2020. "COVID-19 Age-Mortality Curves Are Flatter in Developing Countries," Policy Research Working Paper Series 9313, The World Bank.
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