Impact of pandemic on development and demography in different continents and nations

Pawan Kumar Singh, Alok Kumar Pandey, Ravi Kiran, Rajiv Kumar Bhatt and Anushka Chouhan

International Journal of Finance & Economics, 2023, vol. 28, issue 3, 3119-3131

Abstract: This study has collected information of 145 countries to predict the effect of cases per million (CPM), tests per million (TPM), and proportion of people aged 65 and above (PAO) on the number of deaths per million DPM at the country and continent level. In addition, it evaluates the economic cost of tests, deaths, COVID‐19 cases in terms of reduction in GDP growth rate across the countries. This paper uses a different econometrics model, including analysis of variance (ANOVA), regression, and multinomial regression model. The robust regression model with M and MM‐estimation was also used due to leverage and residuals in country wise GDP database. A significant difference was found in deaths per million (DPM), TPM, number of COVID‐19 cases (CPM), and percentage of people aged 65 and above (PAO) across continents. The DPM is negatively associated with TPM, and it was relatively more effective in reducing DPM in Africa (0.32%) as compared to Asia (0.25%) and Europe (0.28). The results show that a 1% increase in the elderly population causes a 0.62% increase in DPM in Africa, while it caused a 2.31% increase in Europe. The study will be helpful in ascertaining the impact of these indicators in this pandemic and help in policy formation and decision‐making strategies to fight the COVID19 pandemic.

Date: 2023
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