Table 5.

Quarter-on-quarter Real GDP Growth – Structural Characteristics.

	Baseline	Manufacturing (% of GDP)	Services (% of GDP)	Exports (% of GDP)	Tourism (% of GDP)	Percent of Population with Internet Access	Percent of Jobs Teleworkable	Life Expectancy at Age 10
	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)
(Intercept)	1.04⁎⁎⁎	1.09⁎⁎⁎	1.04⁎⁎⁎	1.06⁎⁎⁎	1.05⁎⁎⁎	1.04⁎⁎⁎	−0.15*	1.05⁎⁎⁎
	(0.03)	(0.04)	(0.03)	(0.03)	(0.04)	(0.03)	(0.07)	(0.03)
Δ Daily Deaths per 100K	−0.83	−7.04⁎⁎	1.64	−3.46⁎⁎	−0.14	1.86	2.66	26.23
	(0.86)	(3.36)	(7.37)	(1.35)	(1.53)	(6.07)	(2.89)	(16.19)
Δ OSI	−0.10⁎⁎⁎	−0.12⁎⁎⁎	0.13*	−0.12⁎⁎⁎	−0.05⁎⁎⁎	−0.18⁎⁎	−0.13⁎⁎⁎	0.04
	(0.01)	(0.03)	(0.06)	(0.02)	(0.02)	(0.07)	(0.05)	(0.18)
Lagged Dependent Variable	−0.20⁎⁎⁎	−0.21⁎⁎⁎	−0.20⁎⁎⁎	−0.21⁎⁎⁎	−0.20⁎⁎⁎	−0.20⁎⁎⁎	−0.14⁎⁎⁎	−0.20⁎⁎⁎
	(0.03)	(0.03)	(0.03)	(0.03)	(0.03)	(0.03)	(0.03)	(0.03)
% Δ Real World Imports	0.35⁎⁎⁎	0.35⁎⁎⁎	0.34⁎⁎⁎	0.35⁎⁎⁎	0.36⁎⁎⁎	0.36⁎⁎⁎	0.45⁎⁎⁎	0.34⁎⁎⁎
	(0.05)	(0.05)	(0.05)	(0.05)	(0.05)	(0.05)	(0.05)	(0.05)
Char.*ΔDeaths		44.35*	−3.20	5.22*	−9.96	−4.00	−12.00	−0.39
		(22.98)	(12.10)	(2.66)	(13.72)	(8.00)	(9.97)	(0.24)
Char. * ΔOSI		0.16	−0.38⁎⁎⁎	0.04	−0.32⁎⁎⁎	0.00	0.19	−0.00
		(0.24)	(0.11)	(0.03)	(0.10)	(0.00)	(0.14)	(0.00)
R^2	0.69	0.70	0.71	0.70	0.70	0.69	0.72	0.69
Time and country FE?	Country	Country	Country	Country	Country	Country	Country	Country
Num. obs.	668	668	668	668	668	668	400	668

Note: This table uses data from CEIC, Ritchie et al. (2020), Dong et al. (2020), Dingel and Neiman (2020), Hale et al. (2021), IFS (2022a,b), the World Bank (2022), and the World Trade & Tourism Council (2019). All regressions apply a two-stage process. In a first stage, deaths and OSI are separately regressed on cases. In the second stage, the residuals from these regressions are substituted for deaths and OSI in the regressions for GDP growth. Robust standard errors (in parentheses) are clustered at the country level.

^⁎p < 0.10;.

^⁎⁎p < 0.05;.

^⁎⁎⁎p < 0.01.