Economic stimulus for COVID-19 pandemic and its determinants: evidence from cross-country analysis
Countries around the world are announcing stimulus packages in response to the COVID 19 pandemic. This research attempts to measure the extent and progress of stimulus packages by proposing a multidimensional index that standardizes governments' economic responses and allows us to examine the d...
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| Format: | Article |
| Language: | English |
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Elsevier
2020-12-01
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| Series: | Heliyon |
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| Online Access: | http://www.sciencedirect.com/science/article/pii/S2405844020324774 |
| _version_ | 1818579924681752576 |
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| author | Md. Nur Alam Siddik |
| author_facet | Md. Nur Alam Siddik |
| author_sort | Md. Nur Alam Siddik |
| collection | DOAJ |
| description | Countries around the world are announcing stimulus packages in response to the COVID 19 pandemic. This research attempts to measure the extent and progress of stimulus packages by proposing a multidimensional index that standardizes governments' economic responses and allows us to examine the differences in economic policies from country to country. We apply the Euclidean distance formula to develop the new index and then identify the determinants of the economic stimulation of COVID-19 through beta-regression. The results show that Chile, Switzerland, Croatia, Sweden and the Netherlands responded more strongly to the COVID-19 pandemic, while the remaining countries responded slightly to the pandemic. Empirical results also indicate that most countries increased COVID-19 economic support, although not significantly. Finally, the results of the beta regression show that the median age of the population, the number of hospitals, beds per capita, the number of total COVID-19 cases, GDP, health care expenditure and the index of the severity of the government's response is significantly related to the level of the countries' stimulus packages. |
| first_indexed | 2024-12-16T07:09:26Z |
| format | Article |
| id | doaj.art-da7a97945afe461fafaf43994e7c7a39 |
| institution | Directory Open Access Journal |
| issn | 2405-8440 |
| language | English |
| last_indexed | 2024-12-16T07:09:26Z |
| publishDate | 2020-12-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Heliyon |
| spelling | doaj.art-da7a97945afe461fafaf43994e7c7a392022-12-21T22:39:56ZengElsevierHeliyon2405-84402020-12-01612e05634Economic stimulus for COVID-19 pandemic and its determinants: evidence from cross-country analysisMd. Nur Alam Siddik0Corresponding author.; Department of Finance and Banking, Begum Rokeya University, Rangpur 5404, BangladeshCountries around the world are announcing stimulus packages in response to the COVID 19 pandemic. This research attempts to measure the extent and progress of stimulus packages by proposing a multidimensional index that standardizes governments' economic responses and allows us to examine the differences in economic policies from country to country. We apply the Euclidean distance formula to develop the new index and then identify the determinants of the economic stimulation of COVID-19 through beta-regression. The results show that Chile, Switzerland, Croatia, Sweden and the Netherlands responded more strongly to the COVID-19 pandemic, while the remaining countries responded slightly to the pandemic. Empirical results also indicate that most countries increased COVID-19 economic support, although not significantly. Finally, the results of the beta regression show that the median age of the population, the number of hospitals, beds per capita, the number of total COVID-19 cases, GDP, health care expenditure and the index of the severity of the government's response is significantly related to the level of the countries' stimulus packages.http://www.sciencedirect.com/science/article/pii/S2405844020324774Economic stimulusCOVID-19 casesFiscal policyMulti-dimensional indexNormalized inverse Euclidean distanceSocial sciences |
| spellingShingle | Md. Nur Alam Siddik Economic stimulus for COVID-19 pandemic and its determinants: evidence from cross-country analysis Heliyon Economic stimulus COVID-19 cases Fiscal policy Multi-dimensional index Normalized inverse Euclidean distance Social sciences |
| title | Economic stimulus for COVID-19 pandemic and its determinants: evidence from cross-country analysis |
| title_full | Economic stimulus for COVID-19 pandemic and its determinants: evidence from cross-country analysis |
| title_fullStr | Economic stimulus for COVID-19 pandemic and its determinants: evidence from cross-country analysis |
| title_full_unstemmed | Economic stimulus for COVID-19 pandemic and its determinants: evidence from cross-country analysis |
| title_short | Economic stimulus for COVID-19 pandemic and its determinants: evidence from cross-country analysis |
| title_sort | economic stimulus for covid 19 pandemic and its determinants evidence from cross country analysis |
| topic | Economic stimulus COVID-19 cases Fiscal policy Multi-dimensional index Normalized inverse Euclidean distance Social sciences |
| url | http://www.sciencedirect.com/science/article/pii/S2405844020324774 |
| work_keys_str_mv | AT mdnuralamsiddik economicstimulusforcovid19pandemicanditsdeterminantsevidencefromcrosscountryanalysis |