IDEAS home Printed from https://ideas.repec.org/a/taf/rjapxx/v29y2024i4p1737-1765.html
   My bibliography  Save this article

The macroeconomic effects of COVID-19 vaccinations in five Asian countries

Author

Listed:
  • George Verikios
  • Tara Shridhar
  • Tilak Susantha Liyanaarachchi

Abstract

COVID-19 vaccines were released en masse globally in 2021 and were regarded by policy makers as crucial in dealing with the coronavirus pandemic. An important question is thus to understand the benefits of the vaccines beyond the direct effects of reducing mortality and morbidity. Using available epidemiological evidence on the effectiveness of vaccines we estimate the economic benefits of vaccination in five important Asian economies – India, Indonesia, South Korea, the Philippines and Vietnam – by applying a dynamic multi-country general equilibrium model. This framework captures the direct and indirect effects of vaccination. Our results show net benefits in terms of GDP for all five economies ranging from 0.16% (India) to 1.1% (South Korea); these depend on the degree of vaccination amongst the population. South Korea shows the most significant benefits while other countries experience smaller benefits. Our findings are consistent with other studies estimating the economic benefits of vaccination.

Suggested Citation

  • George Verikios & Tara Shridhar & Tilak Susantha Liyanaarachchi, 2024. "The macroeconomic effects of COVID-19 vaccinations in five Asian countries," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 29(4), pages 1737-1765, October.
    • Handle: RePEc:taf:rjapxx:v:29:y:2024:i:4:p:1737-1765
    DOI: 10.1080/13547860.2024.2318955
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/13547860.2024.2318955
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/13547860.2024.2318955?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    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:taf:rjapxx:v:29:y:2024:i:4:p:1737-1765. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/rjap .

    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.