A bootstrap efficiency analysis based on economic sensitivity for the first term of covid-19

Abstract

No situation similar to the Covid-19 pandemic on a global scale has been encountered in the world lately. The uncertainty caused by the nature of the disease at the time of the emergence of Covid-19 also led to the fact that the methods of struggling with it were not fully known. Governments have started to implement strategies to combat the pandemic. However, it is debated whether the interventions of the countries are fast, serial, and effective enough. Although it is accepted that the Covid-19 crisis caused an unprecedented economic downsizing after the great depression of 1929, it is also known that countries responded seriously. In this study, the performance of countries in the pandemic was handled from an economic point of view, taking into account the Covid-19 parameters. Bootstrap Efficiency analyses conducted in 24 European countries during the period March 2020-March 2021 revealed that the countries did not exert full efficiency in terms of economic sensitivity which was used as output. The results indicated that countries should be more prepared for future risks related to the fight against the virus when assessed from an economic point of view.