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Economic risks from COVID-19 in Pacific Island Countries
Research Trust of Victoria University of Wellington
Pacific Island Countries (PICs)
Evaluation of economic risk
Key Focus of Study
We measure the overall economic risk that is associated with COVID-19 in Pacific Island Countries (PICs). Based on work developed in Noy et al. (2019) but re-designed to fit the epidemiological details of COVID-19 and the specific circumstances of the Pacific, our approach is to evaluate where the economic risks of COVID-19 are currently concentrated in the different countries, different sectors, and where possible, within countries in the region. We measure the different exposures, vulnerabilities, and resiliences that can be identified in each country. In addition, using a DALY-like index for economic risk presented in UNISDR (2015) and implemented for other risks in the Pacific in Noy (2016b), we also aim to provide a more comprehensive analysis of the risk associated with COVID-19 in the region as measured by lost ‘life years’, a measure that includes both the public health and the estimated economic consequences of COVID-19.
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