Download This PaperEstimating Impact of Austerity Policies in COVID-19 Fatality Rates: Examining the Dynamics of Economic Policy and Case Fatality Rates (CFR) of COVID-19 in OECD Countries
12 Pages Posted: 21 Apr 2020 Last revised: 4 May 2020
Date Written: April 10, 2020
Abstract
The paper will attempt to estimate factors which determine the variability of case fatality rates of COVID-19 (Coronavirus) across OECD countries in the recent time. The objective of the paper is to estimate the impact of government health policies on fatality rates (Case fatality rates) of COVID-19 in OECD countries while controlling for other demographic and economic characteristics. The analysis is done using non-parametric regression method, i.e. Quantile regression. The result from quantile regression analysis shows that a policy of Austerity (health expenditure cuts) significantly increases the mortality rates of COVID-19 in OCED countries. The policy implication of the study is the need for a robust public-funded health system with wider accessibility to deal with major public health crisis like COVID-19 pandemic.
Keywords: Economic Policy, Austerity, COVID -19, Case fatality rate (CFR), OECD , EU, Coronavirus, Pandemic
JEL Classification: I18, I38, C31
Suggested Citation: Suggested Citation