A study on the efficiency of economic support policies in response to COVID-19

Weilong Zhang and Keunyeob Oh

Applied Economics, 2024, vol. 56, issue 60, 9302-9315

Abstract: This study evaluates the efficiency of economic support policies implemented by OECD countries during the COVID-19 pandemic from January 2020 to December 2021, using Data Envelopment Analysis (DEA). Distinguished from prior research, this study comprehensively considers both economic policy and public health perspectives. The results of this analysis can be summarized as follows: Firstly, government effectiveness was found to positively influence policy efficiency, underscoring the critical role of citizens’ trust in government policy execution in shaping policy outcomes. Secondly, nations with a high Universal Health Coverage (UHC) Service Index exhibited lower efficiency. Further examination of this finding revealed that countries with superior healthcare coverage experienced fewer COVID-19-related deaths, albeit with less robust economic performance. In these countries, despite the high quality of medical coverage and economic responses, the outcomes did not proportionately align with their efforts. Drawing from these insights, we present policy recommendations to enhance the effectiveness of government responses.

Date: 2024
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DOI: 10.1080/00036846.2023.2301224

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