To assess the impact of COVID-19 on firms, the World Bank and the International Finance Corporation conducted Business Pulse Surveys in several countries, including six in the South Asia region. Analysis focusing on the South Asia region suggests that, first, firms in the South Asia region have suffered disproportionately more from the economic brunt of the pandemic. Second, even within the region, COVID-19 did not affect all firms equally. Although exporters remain resilient by some metrics, firms that are smaller, female-led firms and those in vulnerable sectors suffered higher rates of closure. Third, while digital technologies have taken the center stage post-pandemic, the South Asia region lags in the adoption of these technologies. Finally, policy support for firms is key to building back better and resilient recovery, yet only a small share of firms can access public support. To be effective, firm support programs ought to be carefully customized and target firms based on the dominant channel through which COVID-19 affects them rather than their external attributes.
Información
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Autor
Brucal,Arlan Zandro Ilagan, Grover,Arti Goswami, Reyes Ortega,Santiago
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Fecha del documento
2021/03/30
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Tipo de documento
Documento de trabajo sobre investigaciones relativas a políticas
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Número del informe
WPS9604
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Volumen
1
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Total Volume(s)
1
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País
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Región
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Fecha de divulgación
2021/03/30
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Disclosure Status
Disclosed
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Nom. del doc.
Damaged by the Disaster : The Impact of COVID-19 on Firms in South Asia
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Palabras clave
public support; female labor force participation; transmission channel; better access to information; margins of adjustment; gap in access; global supply chain; lack of awareness; payroll tax cuts; government support program; level of policy; misallocation of resources; amount of credit; lack of opportunity; change in demand; social insurance contribution; channels of transmission; changes in operations; measure of uncertainty; impact on sales; Innovation and Entrepreneurship; information and awareness; demand shock; accommodation services; resilient recovery; probit regression; business network; fixed effect; dominant channel; information gap; high probability; vulnerable sector; country variation; low share; protection program; government intervention; financial fragility; massive decline; Wage Subsidies; wage subsidy; time horizon; natural disaster; public program; Food Services; digital technology; creative destruction; value estimation; firm size; export status; export orientation; organizational capital; average change
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