Research Article

Analysis of Economic and Epidemic Performances of Countries During the Covid-19 Pandemic Period

Volume: 10 Number: 2 April 30, 2022
TR EN

Analysis of Economic and Epidemic Performances of Countries During the Covid-19 Pandemic Period

Abstract

This study aims to analyze the performance of countries in the COVID-19 period. The main motivation of the study is to make a more realistic assessment by taking into account the epidemic information and health system-related features, as well as government precaution (Stringency Index) and economic criteria. In this way, the characteristics of the countries that stand out in the fight against the pandemic were tried to be determined. Within the scope of the study, the CRITIC method, which is widely used and stands out as an objective method, was preferred for weighting the criteria. Country performances were analyzed separately using weighted and unweighted criteria. The Grey Relational Analysis (GRA) method, together with weighted and unweighted criteria, was used to determine country rankings. When the results are examined, it has been observed that the level of economic prosperity and the measures taken against the pandemic has brought countries directly to an advantageous point. Countries with a relatively low level of economic prosperity compared to other countries, unfortunately, ranked lower in the ranking. On the other hand, countries with elderly populations were able to find a place in the lower ranks due to high mortality rates despite their extensive economic opportunities. Although the weighting of the criteria affects the country rankings, there has been no change in the countries in the top two.

Keywords

COVID-19 pandemic, CRITIC method, Grey relational analysis

References

  1. [1] B. Bingül Ak, B., A. Türk, and R. Ak, “Major Outbreak in History in the Context of Covid-19 and Its Economic Results”, Turkish Studies, Vol. 15, No.4, pp. 189-200, 2020.
  2. [2] N. Aydın, and G. Yurdakul, “Assessing Countries’ Performances Against COVID-19 via WSIDEA and Machine Learning Algorithms”, Applied Soft Computing Journal. Vol. 97, p. 106792, 2020.
  3. [3] S. Kabadayi, G. E. O’Connor, and S. Tuzovic, “The impact of coronavirus on service ecosystems as service mega-disruptions”, Journal of Services Marketing, Vol. 34, No. 6, pp. 809-817, 2020.
  4. [4] Coronavirus (COVID-19) Vaccinations 2020 to 2021. Our World in Data. April 2021. [online]. Available: https://ourworldindata.org/covid-vaccinations.
  5. [5] J. H. Tanne, E. Hayasaki, M. Zastrow, P. Pulla, P. Smith, and A. G Rada, “Covid-19: how doctors and healthcare systems are tackling coronavirus worldwide”, Bmj, Vol. 368, 2020.
  6. [6] M. Di Marco, M. L. Baker, P. Daszak, P. De Barro, E. A. Eskew, C. M. Godde,... and S. Ferrier, “Opinion: Sustainable development must account for pandemic risk”, Proceedings of the National Academy of Sciences, Vol. 117, No. 8, pp. 3888-3892, 2020.
  7. [7] V. Stojkoski, Z. Utkovski, P. Jolakoski, D. Tevdovski, and L. Kocarev, “The socio-economic determinants of the coronavirus disease (COVID-19) pandemic”, arXiv preprint arXiv:2004.07947, 2020.
  8. [8] Daily Coronavirus Data. John Hopkins University Coronavirus Research Center (JHU), April 2021. [online]. available: https://coronavirus.jhu.edu/data/new-cases.
  9. [9] N. Fernandes, “Economic effects of coronavirus outbreak (COVID-19) on the world economy”. Available at SSRN 3557504, 2020.
  10. [10] Latest World Economic Outlook Growth Projections 2020. International Monetary Fund. April 2021. [online]. Available: https://www.imf.org/en/Publications/WEO/Issues/2021/03/23/world-economic-outlook-april-2021.
APA
Şahin, Y., & Kılınç, M. (2022). Analysis of Economic and Epidemic Performances of Countries During the Covid-19 Pandemic Period. Duzce University Journal of Science and Technology, 10(2), 729-747. https://doi.org/10.29130/dubited.934715
AMA
1.Şahin Y, Kılınç M. Analysis of Economic and Epidemic Performances of Countries During the Covid-19 Pandemic Period. DUBİTED. 2022;10(2):729-747. doi:10.29130/dubited.934715
Chicago
Şahin, Yusuf, and Merve Kılınç. 2022. “Analysis of Economic and Epidemic Performances of Countries During the Covid-19 Pandemic Period”. Duzce University Journal of Science and Technology 10 (2): 729-47. https://doi.org/10.29130/dubited.934715.
EndNote
Şahin Y, Kılınç M (April 1, 2022) Analysis of Economic and Epidemic Performances of Countries During the Covid-19 Pandemic Period. Duzce University Journal of Science and Technology 10 2 729–747.
IEEE
[1]Y. Şahin and M. Kılınç, “Analysis of Economic and Epidemic Performances of Countries During the Covid-19 Pandemic Period”, DUBİTED, vol. 10, no. 2, pp. 729–747, Apr. 2022, doi: 10.29130/dubited.934715.
ISNAD
Şahin, Yusuf - Kılınç, Merve. “Analysis of Economic and Epidemic Performances of Countries During the Covid-19 Pandemic Period”. Duzce University Journal of Science and Technology 10/2 (April 1, 2022): 729-747. https://doi.org/10.29130/dubited.934715.
JAMA
1.Şahin Y, Kılınç M. Analysis of Economic and Epidemic Performances of Countries During the Covid-19 Pandemic Period. DUBİTED. 2022;10:729–747.
MLA
Şahin, Yusuf, and Merve Kılınç. “Analysis of Economic and Epidemic Performances of Countries During the Covid-19 Pandemic Period”. Duzce University Journal of Science and Technology, vol. 10, no. 2, Apr. 2022, pp. 729-47, doi:10.29130/dubited.934715.
Vancouver
1.Yusuf Şahin, Merve Kılınç. Analysis of Economic and Epidemic Performances of Countries During the Covid-19 Pandemic Period. DUBİTED. 2022 Apr. 1;10(2):729-47. doi:10.29130/dubited.934715