Save lives or save livelihoods? A cross-country analysis of COVID-19 pandemic and economic growth

•A cross-country analysis identifying risk and protective factors on the COVID-19 deaths.•Ranking of 100 countries based on the proposed pandemic containment effectiveness (PCE) score.•Positive relationship between the PCE score and economic growth in major economies.•A counterfactual analysis discussing the tradeoff between the PCE scores and GDP growth.