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1 – 10 of over 12000Joses Muthuri Kirigia and Rose Nabi Deborah Karimi Muthuri
To estimate the discounted money value of human lives lost (DMVHL) due to COVID-19 in Spain.
Abstract
Purpose
To estimate the discounted money value of human lives lost (DMVHL) due to COVID-19 in Spain.
Design/methodology/approach
The study employs the human capital approach to estimate the DMVHL (assuming Spain's life expectancy of 83 years and a 3% discount rate) of the 20,453 human lives lost in Spain from COVID-19 as of 19 April 2020. Sensitivity analysis was conducted alternately assuming (a) 5% and 10% discount rate; and (b) global life expectancy of 72 years, and the world's highest life expectancy of 87.1 years.
Findings
The 20,453 human lives lost due to COVID-19 had a total DMVHL of Int$ 9,629,234,112, and an average of Int$ 470,798 per human life lost. Alternate re-estimation of the economic model with a 5% and 10% discount rates led to 19.8% and 47.4% reductions in the DMVHL, respectively. Re-calculation of the economic model using the global life expectancy of 72 years, while holding the discount rate constant at 3%, diminished the DMVHL by 41%. While the re-run of the same model using the world's highest life expectancy of 87.1 years instead, it increased the DMVHL by 18%.
Research limitations/implications
The study omits the value of health systems inputs used in preventing, diagnosing and treating COVID-19 cases; and the negative impact of COVID-19 on the agriculture, education, finance, manufacturing, travel, tourism, and trade sectors.
Social implications
There is a need to use this kind of evidence to advocate for increased investments into the strengthening of the national health system, IHR capacities, and coverage of safe water and sanitation facilities.
Originality/value
In Spain, no other study had attempted to estimate the net present value of human lives lost from COVID-19.
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Joses Muthuri Kirigia, Rose Nabi Deborah Karimi Muthuri and Lenity Honesty Kainyu Nkanata
Background: This study aimed to appraise the monetary value of human life losses associated with COVID-19 in Turkey. To our knowledge, it is the first study in Turkey to value…
Abstract
Background: This study aimed to appraise the monetary value of human life losses associated with COVID-19 in Turkey. To our knowledge, it is the first study in Turkey to value human life losses associated with COVID-19.
Methods: A human capital approach (HCA) model was applied to estimate the total monetary value of the 4,807 human lives lost in Turkey (TMVHL) from COVID-19 by 15 June 2020. The TMVHL equals the sum of monetary values of human lives lost (MVHL) across nine age groups. The MVHL accruing to each age group is the sum of the product of discount factor, years of life lost, net GDP per capita, and the number of COVID-19 deaths in an age group. The HCA model was re-calculated five times assuming discount rates of 3%, 5%, and 10% with a national life expectancy of 78.45 years; and the world highest life expectancy of 87.1 years and global life expectancy of 72 years with 3% discount rate.
Results: The 4807 human life losses from COVID-19 had a TMVHL of Int$1,098,469,122; and a mean of Int$228,514 per human life. Reanalysis with 5% and 10% discount rates, holding national life expectancy constant, reduced the TMVHL by Int$167,248,319 (15.2%) and Int$ 429,887,379 (39%), respectively. Application of the global life expectancy reduced the TMVHL by 36.4%, and use of world highest life expectancy increased TMVHL by 69%. However, the HCA captures only the economic production losses incurred as a result of years of life lost. It ignores non-market contributions to social welfare and the adverse effects of economic activities.
Conclusions: Additional investment is needed to bridge the persisting gaps in international health regulations capacities, universal health coverage, and safely managed water and sanitation services.
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Maria Della Lucia and Stefan Lazic
The predominant neoliberal structure of capitalism and tourism as the fuel of capitalism exposes growing problems of injustice, unfairness and inequality. Places and communities…
Abstract
The predominant neoliberal structure of capitalism and tourism as the fuel of capitalism exposes growing problems of injustice, unfairness and inequality. Places and communities around the world are currently expressing the need for radical changes in placemaking to be able to think, plan and act differently. This theoretical contribution adopts a humanistic management (HM) perspective of placemaking to promote places where people enjoy living, working, interacting and having meaningful experiences. Tourist destinations are relevant places to discuss the application of HM principles in practice and promote humanistic destinations and the humanisation of placemaking. This chapter concludes by arguing for an interface with eco-centric and posthumanist transformative approaches to promote holistic value-based placemaking and regeneration of places.
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Jaime A. Teixeira da Silva and Panagiotis Tsigaris
The purpose of this paper is to provide an estimate of the costs of premature mortality caused by the COVID-19 pandemic.
Abstract
Purpose
The purpose of this paper is to provide an estimate of the costs of premature mortality caused by the COVID-19 pandemic.
Design/methodology/approach
Using COVID-19 pandemic-derived mortality data for November 9, 2020 (globally 1,303,215 deaths) and applying a country-based value of statistical life (VSL), the worldwide cost of premature mortality was assessed. The cost was assessed based on income groups until November 9, 2020 and projected into the future until March 1, 2021 using three scenarios from the Institute for Health Metrics and Evaluation (IHME).
Findings
The global cost of premature mortality is currently estimated at Int$5.9 trillion. For the high-income group, the current estimated cost is Int$ $4.4 trillion or $3,700 per person. Using IHME projections until March 1, 2021, global premature mortality costs will increase to Int$13.7 trillion and reach Int$22.1 trillion if policies are relaxed, while the cost with 95% universal masks is Int$10.9 trillion. The richest nations will bear the largest burden of these costs, reaching $15,500 per person by March 1, 2021 if policies are relaxed.
Originality/value
The cost of human lives lost due to the pandemic is unprecedented. Preparedness in the future is the best policy to avoid many premature deaths and severe recessions in order to combat pandemics.
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This research aims to review literature on development finance and its challenge and to examine blended learning and insurance as a catalysts of development finance. In…
Abstract
Purpose
This research aims to review literature on development finance and its challenge and to examine blended learning and insurance as a catalysts of development finance. In particular, this paper provides new insights and practical examples of blended finance and insurance.
Design/methodology/approach
This research basically relies on literature review and case study to show the value of the emerging methods of blended learning in development finance and insurance system.
Findings
Basic finding in this paper includes new insight of blended finance and insurance as a partnership between public and private sector, which offers new arena for academic research and practice.
Originality/value
As the research relies on literature review and authors' insight, originality may not be valued so much, but if may be introducing or creating new ideas or thinking about development finance or international development cooperation where relevant data or experience is still lacking.
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Francesca Pagliara, Walid El-Ansari and Ilaria Henke
The objective of this paper is to propose a methodology to estimate the benefits and costs of stakeholder engagement (SE). Indeed, in the transport sector, it is consolidated that…
Abstract
Purpose
The objective of this paper is to propose a methodology to estimate the benefits and costs of stakeholder engagement (SE). Indeed, in the transport sector, it is consolidated that a good decision-making process foresees the involvement of the main stakeholders, but what are the benefits and costs of the SE? How to quantify these impacts and explicitly take them into account in a cost-benefit analysis? In this paper, an attempt to answer these questions is provided.
Design/methodology/approach
In this paper, a methodology is proposed to estimate the benefits and costs of SE. Moreover, the proposed methodology is applied to a case study with an attempt to identify direct and indirect cost and benefit drivers within the context.
Findings
A range of examples of the monetary costs and benefits of SE is provided through the case study of the high-speed rail corridor connecting Bari and Naples in Italy.
Research limitations/implications
Limits in quantifying all the aspects of engagement.
Practical implications
To be adopted by public administrations when deciding whether carrying out a project.
Social implications
Social inclusion is a must in any decision-making process concerning big projects affecting the community.
Originality/value
The original value of this paper is to provide a contribution to the current literature on the quantitative representation of the impacts of SE. Indeed, a methodology to quantify and monetize the costs and benefits of SE is proposed.
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