Economics

Global evidence on the economic effects of disease suppression during COVID-19

J. T. Rothwell, A. Cojocaru, et al.

A profound analysis reveals how COVID-19 restrictions led to significant job and income losses for nearly half the global adult population, substantially affecting well-being. Researchers Jonathan T. Rothwell, Alexandru Cojocaru, Rajesh Srinivasan, and Yeon Soo Kim uncover the stark economic disparities and the impact of strict policies.

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Playback language: English

Index

Abstract

Governments worldwide implemented restrictions on social and economic activity to suppress COVID-19. This global analysis, using Gallup World Poll data from 321,000 adults in 117 countries (July 2020-March 2021), examines job and income losses linked to these restrictions. Nearly half the world's adult population experienced income loss, strongly associated with lower well-being and financial hardship. Multilevel modeling reveals a strong positive association between policy stringency and economic harm, with steeper gradients for low-socioeconomic-status workers. School closures, stay-at-home orders, and economic restrictions were strongly linked to harm, unlike contact tracing, mass testing, and elderly protections.

Publisher

Humanities and Social Sciences Communications

Published On

Jan 08, 2024

Authors

Jonathan T. Rothwell, Alexandru Cojocaru, Rajesh Srinivasan, Yeon Soo Kim

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