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“Long GFC”? The global financial crisis, health care, and COVID‐19 deaths


Moreno, Antonio; Ongena, Steven; Ventula Veghazy, Alexia; Wagner, Alexander F (2024). “Long GFC”? The global financial crisis, health care, and COVID‐19 deaths. Economic Inquiry, 62(2):865-891.

Abstract

Do financial crises affect long‐term public health? To answer this question, we examined the relationship between the 2007–2009 Global Financial Crisis (GFC) and the 2020–2022 COVID‐19 pandemic. Specifically, we examined the relationship between the financial losses derived from the GFC, and the health outcomes associated with the first wave of the pandemic. European countries that were more affected by the financial crisis had more deaths relative to coronavirus cases. An analogous relationship emerged across Spanish provinces and US states. Part of the transmission from finances to health outcomes appears to have occurred through cross‐sectional differences in health care facilities.

Abstract

Do financial crises affect long‐term public health? To answer this question, we examined the relationship between the 2007–2009 Global Financial Crisis (GFC) and the 2020–2022 COVID‐19 pandemic. Specifically, we examined the relationship between the financial losses derived from the GFC, and the health outcomes associated with the first wave of the pandemic. European countries that were more affected by the financial crisis had more deaths relative to coronavirus cases. An analogous relationship emerged across Spanish provinces and US states. Part of the transmission from finances to health outcomes appears to have occurred through cross‐sectional differences in health care facilities.

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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Banking and Finance
Dewey Decimal Classification:330 Economics
Scopus Subject Areas:Social Sciences & Humanities > General Business, Management and Accounting
Social Sciences & Humanities > Economics and Econometrics
Uncontrolled Keywords:COVID‐19, curative beds, death ratio, global financial crisis (GFC), local sovereign debt
Scope:Discipline-based scholarship (basic research)
Language:English
Date:1 April 2024
Deposited On:10 Jan 2024 10:19
Last Modified:30 Apr 2024 01:46
Publisher:Wiley-Blackwell Publishing, Inc.
ISSN:0095-2583
OA Status:Closed
Publisher DOI:https://doi.org/10.1111/ecin.13194
Other Identification Number:merlin-id:24244