Econometric Analysis of the Impact of Financial Structure on Innovation Based on the Fixed Effects Panel Model

This study addresses the impact of financial structure on innovation. The mechanism of the impact of financial structure on innovation at different levels of economic development is elucidated from the perspective of optimal financial structure decision theory and development economics, and empirical evidence is provided using manufacturing data from 59 countries or regions for the period 1996–2015. The study finds that financial structure has no significant effect on innovation at lower levels of economic development, but at higher levels of economic development, market-based financial structure significantly promotes innovation in the industry. The role of financial structure in innovation shifts in the interval where per capita income is greater than 9747 International dollar (hereinafter called I$9747) and less than I$17070. This paper verifies that the innovation approach of technological imitation requires the support of a bank-based financial structure, while the innovation approach of independent innovation requires the support of a market-based financial structure. The differences in innovation approaches at different stages of economic development lead to the evolution of the inherent demand for financial structures in the economy. Promoting the evolution of financial structures according to the stage of economic development is of great significance in building an innovative country and leading the sustainable and healthy development of the economy.

The Dollar Value of Human Life Losses Associated With COVID-19 in Canada

Background: The coronavirus disease 2019 (COVID-19) pandemic continues to cause morbidity and premature mortality and ravage the socio-economic sectors in Canada.Objectives: The study aimed to appraise the Total Dollar Value of Human Life Losses (TDVHL) associated with COVID-19 in Canada. Methods: The net output approach was applied in the dollar valuation of the 8810 human life losses associated with COVID-19 in Canada as of July 16, 2020. The economic model wasrerun assuming 3%, 5%, and 10% discount rates with Canada’s life expectancy of 83 years, the world’s average life expectancy of 73 years, the world’s highest average life expectancy of88 years, and a 3% discount rate. Results: The human lives lost to COVID-19 had an estimated value of the international dollar (Int$) 2037021173 and an average of Int$ 231217 per human life lost. Quebec and Ontarioprovinces alone accounted for 94.99% of the TDVHL. Reanalysis of the economic model with discount rates of 5% and 10% resulted in declines in TDVHL of Int$ 192721390 (9%)and Int$ 530132423 (26%), respectively. Substitution of the nation with the word’s average life expectancy shrank the TDVHL by Int$ 1754972473 (86%) while applying the world’shighest life expectancy triggered a growth in the TDVHL of Int$ 498674987 (24%).

The Present Value of Human Lives Lost Due to COVID-19 in the United Kingdom

Introduction: Approximately 43906 human lives were lost to COVID-19 by July 2, 2020, in the United Kingdom (UK). This study estimated the total present value of human lives lost due to COVID-19 in the UK as of July 2, 2020. Background: The ongoing global COVID-19 pandemic has disrupted external trade and negatively impacted on all the socioeconomic sectors in the UK. Objectives: The objective of this study was to estimate the total present value of human lives lost due to COVID-19 n the UK as of July 2, 2020. Methods: The human capital approach was employed to value human lives lost into money, assuming a 3% discount rate and an average life expectancy of 81.8 years in the UK. The economic model was re-estimated using (a) 5% and 10% discount rates, and (b) the average world life expectancy of 72 years, and (c) the world’s highest life expectancy of 88.1 years to test the robustness of the total present value of human lives lost. Results: The human lives lost had a total present value of the international dollar (Int$) of 9883426226 and an average present value per human life of Int$ 225104. Approximately 76.2% of the total present value was sustained by those aged 30 and 79 years. Re-estimation of the model with discount rates of 5% and 10% instead of 3% reduced the total present value by Int$ 1158424570 (11.7%), and Int$ 3058724257 (31.0%), respectively. Conclusion: The average present value per human life was almost five-fold the UK’s GDP per person in 2020. The presented evidence could be used to advocate for increased investments into the British National Health Service and other health-related systems to optimize Universal Health Coverage, International Health Regulations capacities, and secondary education coverage to better mitigate economic and human suffering during future pandemics.

Blindness above and below the Poverty Line: Reflections form Sofala, Mozambique

Although the correlation between visual impairment and poverty has been established, economic assessment is not a standard component of blindness surveys. The purpose of this study was to determine the prevalence of avoidable blindness and its association with poverty in Sofala province of Mozambique. As part of a Rapid Assessment of Avoidable Blindness, 94% of a random sample of 3600 people >50 years responded to questions regarding daily per capita expenditure. The WHO definition of blindness (presenting visual acuity <3/60) was used to determine the visual status of participants, and the World Bank’s threshold of living on <$1.25 International Dollar a day demarcated the poverty line. The prevalence of blindness was 3.2% [95% Confidence Interval (CI): 2.6, 3.8]. People living below the poverty line had significantly greater odds of being blind [Odds Ratio (OR): 2.6 (CI: 1.6 to 4.5)]. Age above 60 [OR: 7.0 [CI: 4.6 to 10.80] predicted blindness but the association with illiteracy, gender or rural residence was not significant. Blindness disproportionately affects people living below the poverty line. Development initiatives could augment the impact of blindness prevention programs. Measuring poverty should become a standard component of visual impairment surveys.

Blindness Above And Below The Poverty Line: Reflections from Sofala, Mozambique

Objective: Although the correlation between visual impairment and poverty has been established, economic assessment is not a standard component of blindness surveys. The purpose of this study was to determine the prevalence of avoidable blindness and its association with poverty in Sofala province of Mozambique. Methods: As part of a Rapid Assessment of Avoidable Blindness, 94% of a random sample of 3600 people &gt;50 years responded to questions regarding daily per capita expenditure. The WHO definition of blindness (presenting visual acuity &lt;3/60) was used to determine the visual status of participants, and the World Bank’s threshold of living on &lt;$1.25 International Dollar a day demarcated the poverty line. Results: The prevalence of blindness was 3.2% [95% Confidence Interval (CI): 2.6, 3.8]. People living below the poverty line had a significantly greater odds of being blind [Odds Ratio (OR): 2.6 (CI: 1.6 to 4.5)]. Age above 60 [OR: 7.0 [CI: 4.6 to 10.80] predicted blindness but the association with illiteracy, gender or rural residence was not significant. Conclusions: Blindness disproportionately affects people living below the poverty line. Development initiatives could augment the impact of blindness prevention programs. Measuring poverty should become a standard component of visual impairment surveys.

Dollar strength will add to US exporters’ woes

Headline INTERNATIONAL: Dollar strength to trouble US exporters

Dollar's fall poses ECB problems

Headline INTERNATIONAL: Dollar fall poses ECB problems

Is the Salut Programme an effective and cost-effective universal health promotion intervention for parents and their children? A register-based retrospective observational study

ObjectivesThis study investigates the effectiveness and cost-effectiveness of the Salut Programme, a universal health promotion intervention, compared with care-as-usual, over the periods of pregnancy, delivery and the child’s first 2 years of life.MethodWe adopted a register-based retrospective observational design using existing data sources with respect to both exposures and outcomes. Health outcomes and costs were compared between geographical areas that received care-as-usual (non-Salut area) and areas where the programme was implemented (Salut area). We included mothers and their children from both the Salut and non-Salut areas if: (1) the child was born 2002–2004 (premeasure period) or (2) the child was born 2006–2008 (postmeasure period). The effectiveness study adopted two strategies: (1) a matched difference-in-difference analysis using data from all participants and (2) a longitudinal analysis restricted to mothers who had given birth twice, that is, both in the premeasure and postmeasure periods. The economic evaluation was performed from a healthcare and a limited societal perspective. Outcomes were clustered during pregnancy, delivery and birth and the child’s first 2 years.ResultsDifference-in-difference analyses did not yield any significant effect on the outcomes. Longitudinal analyses resulted in significant positive improvement in Apgar scores, reflecting the newborn’s physical condition, with more children having a normal Apgar score (1 min +3%, 5 min +1%). The cost of the programme was international dollar (INT$)308/child. From both costing perspectives, the programme yielded higher effects and lower costs than care-as-usual, being thus cost-saving (probability of around 50%).ConclusionsOur findings suggest that the Salut Programme is an effective universal intervention to improve maternal and child health, and it may be good value for money; however, there is large uncertainty around the cost estimates.