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Analysis of Cultural and Political Factors on the Impact of COVID-19


In a recent GRI publication, political, institutional, and cultural factors were correlated with the economic effects of the COVID-19 pandemic. Join us to hear from the authors of this study about what socio-political factors were of significance in predicting a country’s relative success in handling the ongoing pandemic.

The authors express the cultural properties of the countries analyzed using the Hofstede model of personal autonomy within a society (individualism), acceptance of hierarchical structures (power distance), and balance between tradition and modernism. Political dimensions in the study include respect for legislation (the rule of law), participation in decisions (democracy), and level of corruption.

Understanding the relationships between these factors may assist governments and regulators in better creating preventative and mitigating measures for future infectious disease outbreaks.

This GRI webinar will discuss:

  • Can socio-political factors and ex-ante economic and geographical factors explain the spread and effects of the pandemic?
  • How do higher-income countries perform better in keeping the virus spread at bay and managing the related economic fallout than low- or medium-income countries?
  • What additional factors contribute to a country’s resilience to COVID-19? How would you expand your study?
  • Are there specific combinations of social and political settings that favour or obstruct economic resilience to such an infectious disease pandemic?

View the publication here The Impact of Cultural and Political Factors on the Spread and Macro-Economic Fallout of COVID-19 - Global Risk Institute : Global Risk Institute


Anup Basnet
University of Surrey, Guildford, United Kingdom

Dr. Anup Basnet joined the Surrey Business School as a Lecturer in Finance and Accounting in September 2021. He completed his PhD in Business Administration (Finance) from Concordia University, Montreal, Quebec, Canada. He holds an MSc in Finance from Hanken School of Economics, Vaasa, Finland. He has teaching and research interests in the areas of corporate finance.

Dieter Gramlich
Baden-Wuerttemberg Cooperative State University Heidenheim (DHBW), Germany

Dieter Gramlich is a full professor and the head of the Banking Department at Duale Hochschule Baden-Württemberg (DHBW) in Heidenheim, Germany. Previously he was the Deputy Chair of Finance and Banking, Martin-Luther-University Halle-Wittenberg, a visiting Professor at Cleveland State University, and a visiting Scholar at the Federal Reserve Bank of Cleveland. He is well-published and has had multiple research semester stays, including in Japan, the USA, and Canada (JMSB, Concordia.) His areas of expertise include opportunity and risk analysis, opportunity and risk management, early warning systems, and sustainable finance.

Thomas Walker
John Molson School of Business, Concordia University, Montreal, Canada

Thomas Walker holds a BSc in Management Information Systems (US-equivalent) from the Technical University of Darmstadt, Germany, and an MBA and PhD degree in Finance from Washington State University. Dr. Walker joined Concordia University in 2001. Prior to his academic career, he worked for several years in the German consulting and industrial sector at such firms as Mercedes Benz, Utility Consultants International, Lahmeyer International, Telenet, and KPMG Peat Marwick.