Vaccination is reasonably effective in limiting the spread of COVID-19 infections, hospitalizations and deaths with COVID-19

This paper uses large cross-country data for 110 countries to examine the effectiveness of COVID vaccination coverage. Our results confirm that vaccines are reasonably effective in both limiting the spread of infections and containing more severe disease progression in symptomatic patients. First, the results show that full vaccination rate is consistently negatively correlated with the number of new COVID cases, whereby a 10 percent increase in vaccination rate is associated with a 1.3 to 1.7 percent decrease in new COVID cases. Second, the magnitude of vaccination is shown to contribute significantly to moderating severe disease progression. On average, a 10 percent increase in the rate of vaccination leads to a reduction of about 5 percent in the number of new hospitalizations, 12 percent decrease in the number of new intensive care patients and 2 percent reduction in the number of new deaths. Finally, by comparing the data for the same period between 2020 and 2021, we also check how good is vaccination as a substitute for lockdowns or other stringent government protection measures. Results suggest that vaccination does not appear to be an effective substitute for more stringent government safety measures to contain the spread of COVID infections until a high vaccination coverage threshold (more than 70 percent) has been achieved. On the other hand, vaccination is shown to be quite effective in limiting the more severe course of the disease in symptomatic patients already at moderate vaccination coverage (between 40 and 70 percent). This suggests that vaccination can also help to reduce pressure on the health system and thus benefit the overall public health of society. Summary Background Using a simple descriptive analysis, in a recent paper Subramanian and Kumar (2021) claim that the increase in COVID-19 cases is not related to levels of vaccination across 68 countries and US counties. We demonstrate that this type of analysis, based on only one data point per country and without rigorous analysis of the dynamics of the pandemic and vaccination, is far too simplistic and inevitably leads to false conclusions that are not justified by the data. Using large cross-country data for 110 countries, we estimate two complex models to examine the impact of vaccination coverage on the spread of COVID infections and on the course of severe COVID disease. Methods We use daily COVID-related data for 110 countries (from Our World in Data) for the period from August 1, 2021 onwards to estimate two comprehensive models – one for the impact on the spread of COVID infections (in terms of number of new confirmed cases) and another one for the impact on severe COVID disease progression (in terms of number of new hospitalizations, admissions to intensive care and deaths). In estimating the vaccines effectiveness, the models capture the differences across countries regarding the state of epidemics and its dynamics, the timing of full vaccination, and country-specific factors. The latter account for differences between countries that determine countries’ specific vulnerabilities or strengths in response to the pandemic. Our data are structured as panel data with a cross-sectional (country) and time (week) dimension. Both models are estimated using a pooled ordinary least squares (OLS) estimator. We first estimate our baseline models and then proceed with two alternative model specifications to examine to what extent vaccination can serve as a substitute for more stringent government protective measures. Findings Our results confirm that vaccines are reasonably effective in both limiting the spread of infections and containing more severe disease progression in symptomatic patients. First, we show that full vaccination rate is consistently negatively correlated with the number of new COVID cases, whereby a 10 percent increase in vaccination rate is associated with a 1.3 to 1.7 percent decrease in new COVID cases. Second, the estimations show that the magnitude of vaccination contributes significantly to moderating severe disease progression. On average, a 10 percent increase in the rate of vaccination leads to about a 5 percent reduction in the number of new hospitalizations, 12 percent decrease in the number of new intensive care patients and 2 percent reduction in the number of new deaths associated with COVID. Third, the estimations confirm that the moderating effect of vaccines on the number of cases and deaths occurs when the vaccination rate is sufficiently high. Finally, by comparing the data for the same period between 2020 and 2021, we also check how good a substitute vaccination is for lockdowns or less stringent government protection measures. Our results suggest that vaccination does not appear to be an effective substitute for more stringent government safety measures to contain the spread of COVID infections until a high vaccination coverage threshold (more than 70 percent) has been achieved. On the other hand, vaccination is shown to be quite effective in limiting the more severe course of the disease in symptomatic patients already at moderate vaccination coverage (between 40 and 70 percent). Interpretation Our results show that vaccines are effective in both limiting the spread of infection and containing a more severe course of disease in symptomatic patients. High vaccination coverage has been shown to be a reasonably effective tool and may serve in part as a substitute for more stringent government protective measures. In this way, it can also help to reduce pressure on the health system and thus benefit the overall public health of society during such severe pandemics. Funding European Union Horizon 2020 grant (GROWINPRO, Grant Agreement No. 822781)