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Does vaccination mitigate the negative impacts of Coronavirus on trade?

Author

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  • Hayakawa, Kazunobu

Abstract

This paper examines how vaccinations modify the effect of coronavirus (COVID-19) on trade. We analyzed monthly level trade data from January 2019 to June 2021 that covered the bilateral trade of 31 reporting countries with 220 partner countries. The severity of COVID-19 damages was measured by the number of newly confirmed cases and the death toll. We found that, on average, the increase of confirmed cases and deaths significantly decreased both exports and imports. However, these negative effects were mitigated with the increase in vaccination doses, especially seen in the case of exports. Finally, the lockdown and restrictions severity started to dwindle with the increase in vaccination doses. We analyzed the relationship of vaccination doses on lockdowns and restrictions to gauge the impact of COVID-19 severity on international trade.

Suggested Citation

  • Hayakawa, Kazunobu, 2021. "Does vaccination mitigate the negative impacts of Coronavirus on trade?," IDE Discussion Papers 827, Institute of Developing Economies, Japan External Trade Organization(JETRO).
    • Handle: RePEc:jet:dpaper:dpaper827
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    More about this item

    Keywords

    COVID-19; trade; vaccination; Diseases;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations

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