NEW YORK - Monopolization of vaccines by wealthy nations, known as "vaccine nationalism," is likely to prolong the COVID-19 pandemic, resulting in more economic and social damage, according to recent studies.

Leaving lower-income countries behind in distribution of vaccines during the pandemic will bring more economic pains for both those countries and the developed economies, according to a research conducted by political risk consultancy Eurasia Group.

If rich countries monopolize COVID-19 vaccines, it could cause twice as many deaths as distributing them equally, said a report by Northeastern University.

The models of a research found that 61 percent of deaths could be averted if the vaccine was distributed to all countries proportional to population, while only 33 percent of deaths would be averted if high-income countries got the vaccines first, said the report.