S-Space College of Social Sciences (사회과학대학) Institute of Economics Research (경제연구소) Seoul Journal of Economics (SJE) Seoul Journal of Economics vol.33 no.1~4 (2020)
Global Spread and Socio-Economic Determinants of Covid-19 Pandemic
- Issue Date
- Seoul Journal of Economics, Vol.33 No.4, pp.561
- Covid-19 ; Pandemic ; Global spread ; Determinants ; Infections ; Mortality ; Health economics ; public policy
- Covid-19 pandemic being highly lethal has spread so swiftlyacross the globe that it has infected more than three million persons across 209 countries within a short time-span of 107 days since January 13, 2020. Given such situation, this paper examinesdifferences across countries in terms of Covid-19 infections, testing and deaths. A novel approach has been developed to examinesocio-economic variables that determine a nations exposure toCovid-19 infections and deaths. The most important methodological contribution has been to devise an objective criterion for identifying the best and worst performing nations in terms of controllinginfection and mortality of human beings. An important findingemerging from the regression analysis establishes the fact that democracy and good governance plays significant role in curtailing mortality rates. But, at the same time, there also takes place a rise in infected patients in the presence of democracy and higher per capita income. These inferences are found to be robust andreplicated on subsequent regression analysis of 24.33 millioninfections by August 27, 2020. The policy implication that results from the analysis is that in the absence of definite treatment (like vaccine), physical / social distancing, masks and hand-hygiene etc.can save humans from infections and mortality.