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Race against time to save human lives during the COVID-19 with vaccines: Global evidence

Author

Listed:
  • Nguyen, Phuc V.
  • Huynh, Toan L. D.
  • Ngo, Vu M.
  • Nguyen, Huan H.

Abstract

Voluminous vaccine campaigns are used globally since the COVID-19 pandemic owes devastating mortality and destructively unprecedented consequences on different aspects of economies. Notwithstanding different approaches to measure the effectiveness of COVID-19 vaccines in clinical medicines, this paper sheds new light on the efficacy of COVID-19 vaccines by using the difference-in-differences (DiD) design of 127 countries in the daily frequency from February 2020 till the end of August 2021. We show that the number of new deaths per million significantly decreases after half of the population is vaccinated, but the number of new cases witnesses an insignificant change. We found that the effects are more pronounced in Europe and North America by offering insights about different continents. Our results remain robust after using other proxies and testing the sensitivity of the vaccinated proportion, providing causality and evidence that expanding and expediting COVID-19 vaccination can save human lives.

Suggested Citation

  • Nguyen, Phuc V. & Huynh, Toan L. D. & Ngo, Vu M. & Nguyen, Huan H., 2021. "Race against time to save human lives during the COVID-19 with vaccines: Global evidence," GLO Discussion Paper Series 958, Global Labor Organization (GLO).
    • Handle: RePEc:zbw:glodps:958
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    File URL: https://www.econstor.eu/bitstream/10419/243295/1/GLO-DP-0958.pdf
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    References listed on IDEAS

    as
    1. Clément de Chaisemartin & Xavier D'Haultfœuille, 2020. "Two-Way Fixed Effects Estimators with Heterogeneous Treatment Effects," American Economic Review, American Economic Association, vol. 110(9), pages 2964-2996, September.
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    3. Sudipto Dasgupta & Alminas Žaldokas, 2019. "Anticollusion Enforcement: Justice for Consumers and Equity for Firms," The Review of Financial Studies, Society for Financial Studies, vol. 32(7), pages 2587-2624.
    4. Sun, Liyang & Abraham, Sarah, 2021. "Estimating dynamic treatment effects in event studies with heterogeneous treatment effects," Journal of Econometrics, Elsevier, vol. 225(2), pages 175-199.
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    More about this item

    Keywords

    COVID-19; global scope; effectiveness; vaccines;
    All these keywords.

    JEL classification:

    • I10 - Health, Education, and Welfare - - Health - - - General
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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