COVID-19 and the Cost of Vaccine Nationalism

Abstract

Experience shows that, in response to pandemics, national governments tend to follow their own interests instead of pursuing a more globally coordinated approach. This nationalistic behaviour could have negative consequences on how well the COVID-19 global pandemic is managed and contained. A situation in which countries push to get first access to a supply of vaccines, potentially hoarding key components for vaccine production, has been commonly referred to as "vaccine nationalism." This article examines how the management of the COVID-19 crisis may be affected by vaccine nationalism and what the associated economic cost would be of inequitable access to vaccines across countries.

Keywords: Coronavirus Disease 2019 (COVID-19); Econometric Models; Economic Analysis Methodology; Global Health; Health Economics; Pandemic; Public Health; Vaccination.