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Infectious disease control and its economic gains in a pandemic: the case of South Korea.
- Source :
- Economic Research-Ekonomska Istrazivanja; 2023, Vol. 36 Issue 2, p1-24, 24p
- Publication Year :
- 2023
-
Abstract
- We investigate the role of the infectious disease control (IDC) system in curbing the spread of infectious disease and preventing economic damage during the COVID-19 pandemic. To this end, we propose incorporating a clustering analysis into the synthetic control method. This contributes to constructing a homogeneous donor pool, which is necessary for an unbiased treatment effect estimator. South Korea's effective IDC system, the so-called K-Quarantine, is estimated to have reduced the number of disease infections and to have prevented a 3.6% loss of GDP and a 0.3%p rise in the unemployment rate in South Korea in 2020. These results are robust in an alternative reduced-form regression analysis under various specifications. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 1331677X
- Volume :
- 36
- Issue :
- 2
- Database :
- Complementary Index
- Journal :
- Economic Research-Ekonomska Istrazivanja
- Publication Type :
- Academic Journal
- Accession number :
- 175301961
- Full Text :
- https://doi.org/10.1080/1331677X.2022.2134904