Smart Containment: Lessons from Countries with Past Experience

April 23, 2021

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Format: Chicago

Alexandra Fotiou, and Andresa Lagerborg. Smart Containment: Lessons from Countries with Past Experience, (USA: International Monetary Fund, 2021) accessed November 12, 2024

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

Following the Great Lockdown in 2020, it is important to take stock of lessons learned. How effective have different containment measures been in slowing the spread of Covid-19? Have containment measures been costly in terms of economic growth, fiscal balances, and accumulated debt? This paper finds that countries with previous SARS experience acted fast and "smart", and were able to contain the virus by relying mainly on public health measures ─ testing, contact tracing, and public information campaigns ─ rather than stay-at-home requirements. Using past coronavirus outbreaks as an instrumental variable, we show that countries with past experience were able to contain the virus in a smart way, reducing transmission and deaths while also experiencing higher economic growth in 2020.

Subject: Communicable diseases, COVID-19, Economic sectors, Financial crises, Fiscal policy, Fiscal stance, Health, Income, National accounts

Keywords: Africa, Asia and Pacific, Communicable diseases, Contact tracing, Containment measure, Containment policy, Country income group dummy, COVID-19, Europe, Fiscal stance, Income, Information campaign, Middle East, Northern Europe, Smart containment, Success ranking

Publication Details

Pages:

54
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2021/099
Stock No:

WPIEA2021099
ISBN:

9781513582474
ISSN:

1018-5941

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