A Literature Review of Pandemics and Development: the Long-Term Perspective
Beniamino Callegari and
Christophe Feder ()
Additional contact information
Beniamino Callegari: Oslo New University College
Christophe Feder: CT-TEM - Università della Valle d’Aosta
Economics of Disasters and Climate Change, 2022, vol. 6, issue 1, No 8, 183-212
Abstract Pandemics have been a long-standing object of study by economists, albeit with declining interest, that is until COVID-19 arrived. We review current knowledge on the pandemics’ effects on long-term economic development, spanning economic and historical debates. We show that all economic inputs are potentially affected. Pandemics reduce the workforce and human capital, have mixed effects on investment and savings, but potentially positive consequences for innovation and knowledge development, depending on accompanying institutional change. In the absence of an innovative response supporting income redistribution, pandemics tend to increase income inequalities, worsening poverty traps and highlighting the distributional issues built into insurance-based health insurance systems. We find that the effects of pandemics are asymmetric over time, in space, and among sectors and households. Therefore, we suggest that the research focus on the theoretical plausibility and empirical significance of specific mechanisms should be complemented by meta-analytic efforts aimed at reconstructing the resulting complexity. Finally, we suggest that policymakers prioritize the development of organizational learning and innovative capabilities, focusing on the ability to adapt to emergencies rather than developing rigid protocols or mimicking solutions developed and implemented in different contexts.
Keywords: Health Shock; Knowledge; Human Capital; Innovation; COVID-19; I15; O10; N30; J11 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
http://link.springer.com/10.1007/s41885-022-00106-w Abstract (text/html)
Access to the full text of the articles in this series is restricted.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:spr:ediscc:v:6:y:2022:i:1:d:10.1007_s41885-022-00106-w
Ordering information: This journal article can be ordered from
https://www.springer ... mental/journal/41885
Access Statistics for this article
Economics of Disasters and Climate Change is currently edited by Ilan Noy and Shunsuke Managi
More articles in Economics of Disasters and Climate Change from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().