The Impact of Cultural and Political Factors on the Spread and Macro-Economic Fallout of COVIID-19
This study examines how cultural and political factors affect the spread and the macro-economic consequences of the global coronavirus (SARS-CoV-2). Our results show that these factors matter: they have mixed effects on the health of a country’s citizens and its economy. We find that politically stable societies are best suited to decelerate the virus spread and its severity; however, they do so at a cost to the economy. Socio-political factors such as a long-term orientation and democracy tend to increase the virus spread, yet moderate the economic fallout from the virus. Our study highlights the complex and interrelated nature of socio-political country-level characteristics and how they affect a country’s relative success in handling the epidemic. A better understanding of these relationships should help governments and regulators create better preventative and mitigating measures if or rather when the next pandemic strikes
Year of publication: |
[2023]
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Authors: | Basnet, Anup ; Gramlich, Dieter ; Walker, Thomas |
Publisher: |
[S.l.] : SSRN |
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