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Open Access
Article
Publication date: 23 July 2020

Joses 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.

1297

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.

Details

Journal of Health Research, vol. 34 no. 5
Type: Research Article
ISSN: 0857-4421

Keywords

Open Access
Article
Publication date: 8 July 2020

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.

Details

Emerald Open Research, vol. 1 no. 2
Type: Research Article
ISSN: 2631-3952

Keywords

Open Access
Book part
Publication date: 22 February 2024

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.

Open Access
Article
Publication date: 16 February 2021

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.

1591

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.

Details

Journal of Health Research, vol. 35 no. 4
Type: Research Article
ISSN: 0857-4421

Keywords

Content available
Book part
Publication date: 15 October 2018

Abstract

Details

Collapse of the Global Order on Drugs: From UNGASS 2016 to Review 2019
Type: Book
ISBN: 978-1-78756-488-6

Open Access
Article
Publication date: 2 July 2020

Hongjoo Jung

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…

3689

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.

Details

International Trade, Politics and Development, vol. 4 no. 1
Type: Research Article
ISSN: 2586-3932

Keywords

Content available
Book part
Publication date: 1 June 2018

Cesar Sáenz

Abstract

Details

Return on Investment in Corporate Responsibility
Type: Book
ISBN: 978-1-78756-252-3

Content available
Article
Publication date: 11 May 2010

Stephanie Brown

336

Abstract

Details

Journal of Educational Administration, vol. 48 no. 3
Type: Research Article
ISSN: 0957-8234

Open Access
Article
Publication date: 4 December 2023

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.

Details

Smart and Sustainable Built Environment, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2046-6099

Keywords

Content available
Book part
Publication date: 30 July 2018

Abstract

Details

Marketing Management in Turkey
Type: Book
ISBN: 978-1-78714-558-0

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