The paper contributes to the research on the economic impact of diseases that reach epidemic or pandemic proportions. Using a robust production function derived from a sample of 44 Sub-Saharan African countries, it sheds light on the macroeconomic impacts of the Ebola outbreak in Guinea, Liberia and Sierra Leone (GLS). More precisely, the paper shows that the contemporaneous impact of the Ebola outbreak on output growth is largely propagated via the channel of human capital stock. It develops VAR scenario to assess the impact of the shock on various macroeconomic variables with important policy implications.
Macroeconomic Impacts of the Ebola Epidemic
AGUDZE, KOMLA MAWULOM;
2015-01-01
Abstract
The paper contributes to the research on the economic impact of diseases that reach epidemic or pandemic proportions. Using a robust production function derived from a sample of 44 Sub-Saharan African countries, it sheds light on the macroeconomic impacts of the Ebola outbreak in Guinea, Liberia and Sierra Leone (GLS). More precisely, the paper shows that the contemporaneous impact of the Ebola outbreak on output growth is largely propagated via the channel of human capital stock. It develops VAR scenario to assess the impact of the shock on various macroeconomic variables with important policy implications.
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