The chart compares the COVID-19 policy response for selected countries. Efficiency is measured from a humanitarian and economic point of view.
South Korea and Finland had the best response according to this benchmark. Both countries recorded a relatively low death rate and GDP impact. The United Kingdom and France performed the worst. Canada and Germany had an average performance among the seven countries. US policy was well below average and resulted in twice as many COVID-19 deaths at the same economic growth rate Canada recorded in 2020.
The data controls GDP growth for the size of the fiscal policy stimulus. However, the uncontrolled scatterplot looks similar and does not change relative country performance significantly. The chosen economies have relatively similar attributes in terms of openness, non-tropical climate, medical system, and non-segregated island.
Last but not least, the data suggest a relationship between COVID-19 death rates and economic impact. Finland and South Korea show how to handle the crisis if we want to have as little mortality and economic impact as possible.
