While striking and novel, our results are no more than suggestive. They call for more in-depth analysis that includes information on what was done by different jurisdictions to procure medical products and protective equipment on an emergency basis, and the global supply response by businesses producing the relevant products. The main conclusion we draw from our analysis is that future research assessing policy responses to the COVID-19 pandemic should consider both the efficacy and efficiency of public procurement processes and the recourse made to trade policy in efforts by governments to address the sharp rise in domestic demand for personal protective equipment and medical supplies.

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