Abstract
Using the COVID-19 database of Johns Hopkins University, this study examines the determinants of the case fatality rate of COVID-19. We consider various potential determinants of the mortality risk of COVID-19 in 120 countries. The Ordinary Least Squares (OLS) and the Kernel-based Regularized Least Squares (KRLS) estimations show that internal and external conflicts are positively related to the case fatality rates. This evidence is robust to the exclusion of countries across different regions. Thus, the evidence indicates that conflict may explain significant differences in the case fatality rate of COVID-19 across countries.
Highlights
The COVID-19 pandemic has affected every aspect of the economy and society
This study investigates the potential drivers of the case fatality rate (CFR) of COVID-19 across 120 countries
The results of the Ordinary Least Squares (OLS) and the Kernel-based Regularized Least Squares (KRLS) estimators indicate that internal and external conflicts are positively associated with the CFR
Summary
The COVID-19 pandemic has affected every aspect of the economy and society. Since this new type of coronavirus is significantly more fatal than the common flu and is transmittable from one human to another, the pandemic has quickly spread across the globe. Conflicts affect CFR because of increased transmission, thereby increasing the death probability (3) Given this context, this study examines the determinants of CFRs related to COVID-19 across 120 countries. The index of labor market regulations (index from 0 to 10, with a higher index level indicating greater labor market flexibility) is included since it captures unemployment payments, minimum wages, and working conditions These data are downloaded from the economic freedom dataset of Gwartney et al (19). A higher level of the index indicates heavier armed conflicts This index captures the events related to international violence, international warfare, international independence war, civil violence, civil warfare, ethnic violence, and ethnic warfare, which can significantly affect the CFR of COVID-19.
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