The Economics of the COVID-19 Pandemic in Poor Countries

Edward Miguel and Ahmed Mushfiq Mobarak

Department of Economics, Working Paper Series from Department of Economics, Institute for Business and Economic Research, UC Berkeley

Abstract: The COVID-19 pandemic has upended health and living standards around the world. This article provides an interim overview of these effects, with a particular focus on low- and middle-income countries (LMICs). Economists have explained how the pandemic is likely to have different consequences for LMICs and demands distinct policy responses compared to those of rich countries. We survey the rapidly expanding body of empirical research that documents the pandemic's many adverse economic and noneconomic effects in terms of living standards, education, health, and gender equality, which appear to be unprecedented in scope and scale. We also review research on successful and failed policy responses, including the failure to ensure widespread vaccine coverage in many LMICs, which is needed to end the pandemic. We close with a discussion of implications for public policy in LMICs and for the institutions of international governance, given the likelihood of future pandemics and other major shocks (e.g., climate).

Keywords: Economics; Applied Economics; Economic Theory; Prevention; Generic health relevance; COVID-19; pandemics; economic development; public health; low- and middle-income countries; LMICs; Applied economics; Economic theory (search for similar items in EconPapers)
Date: 2022-08-12
New Economics Papers: this item is included in nep-hea
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Citations: View citations in EconPapers (8)

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Journal Article: The Economics of the COVID-19 Pandemic in Poor Countries (2022)
Working Paper: The Economics of the COVID-19 Pandemic in Poor Countries (2021)
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