Global Food Security, Economic and Health Risk Assessment of the COVID-19 Epidemic

Sándor Kovács, Mohammad Fazle Rabbi and Domicián Máté
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Sándor Kovács: Faculty of Economics and Business Management, University of Debrecen, H-4032 Debrecen, Hungary
Mohammad Fazle Rabbi: Ihrig Károly Doctoral School, University of Debrecen, H-4032 Debrecen, Hungary

Mathematics, 2021, vol. 9, issue 19, 1-16

Abstract: This study addresses the complexity of global pandemic (COVID) exposures and explores how sustainable development relates to economic and health risks and food security. Multiple factor analysis (MFA) is applied to compute the links among blocks of variables, and results are validated by random sampling with bootstrapping, exhaustive and split-half techniques, and analysis of variance (ANOVA) to test the differences of the MFA factors within the different stages of competitiveness. Comparing the MFA factors suggests that higher competitiveness is correlated with better food security and natural resilience and the tremendous economic downturn; the most competitive countries have lower exposures to health risks. In addition, the risk of pandemics appears to be lower with well-established public health care (HC) system services and good health for the population. The study also underlines that the economic and health systems are unfortunately inadequate to deal with a crisis of this magnitude. Although the countries least affected by the epidemic are the most competitive, they cannot protect people and the economy effectively. Formulating appropriate global responses is a challenge, but the results may lead to more nuanced findings regarding treatment policies that can be addressed at the country level.

Keywords: competitiveness; economic risk; food security; health risk; MFA method; risk assessment; sustainable development (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2021
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