The study aims to analyze the role of coronavirus testing capacity to possibly reduce the case fatality ratio (CFR) in a large cross-section of countries. The study controlled health-care expenditures, logistics performance index (LPI), carbon damages, and corporate social responsibility (CSR) to understand the nature of causation between the CFR and stated factors.
The study used a cross-sectional regression apparatus for coefficient estimates and variance decomposition analysis (VDA) for forecasting relationships between the variables over time.
The results confirmed the W-shaped relationship between CFR and case-to-test ratio (CTR) in the presence of a LPI that exacerbates the CFR cases across countries. The VDA estimates suggest that carbon damages, logistics activities, and CSR are likely to influence CFR over time.
To the best of the authors’ knowledge, the study is believed to be the first study that assesses the W-shaped relationship between the CFR and CTR in the presence of dynamic variables, which helps to formulate long-term sustainable health-care policies worldwide.
