Policies to Support Businesses through the COVID-19 Shock
Relying on a novel dataset covering more than 120,000 firms in 60 countries, this paper con-tributes to the debate about D policies to support businesses through the COVID-19 pandemic. While governments around the world have implemented a wide range of policy support measures, evidence on the reach of these policies, the alignment of measures with firm needs, and their targeting and effectiveness remains scarce. This paper provides the most comprehensive assessment to date of these issues, focusing primarily on the developing economies. It shows that policy reach has been limited, especially for the more vulnerable firms and countries, and identifies mismatches between policies provided and policies most sought. It also provides some indicative evidence regarding mistargeting of policies and their effectiveness in addressing liquidity constraints and preventing layoffs. This assessment provides some early guidance to policymakers on tailoring their COVID-19 business support packages and points to new directions in data and research efforts needed to guide policy responses to the current pandemic and future crises.
| Main Authors: | , , , , , , , , , , |
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| Format: | Working Paper biblioteca |
| Language: | English |
| Published: |
World Bank, Washington, DC
2021-01
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| Subjects: | CORONAVIRUS, COVID-19, PANDEMIC RESPONSE, BUSINESS SUPPORT, FIRM PERSPECTIVE, UNCERTAINTY, PUBLIC SUPPORT POLICY, ACCESS TO FINANCE, SMALL AND MEDIUM SIZE ENTERPRISE, |
| Online Access: | http://documents.worldbank.org/curated/en/188461610547807479/Policies-to-Support-Businesses-through-the-COVID-19-Shock-A-Firm-Level-Perspective https://hdl.handle.net/10986/35012 |
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| Summary: | Relying on a novel dataset covering more than 120,000
firms in 60 countries, this paper con-tributes to the
debate about D policies to support businesses through the
COVID-19 pandemic. While governments around the
world have implemented a wide range of policy support
measures, evidence on the reach of these policies, the alignment
of measures with firm needs, and their targeting and
effectiveness remains scarce. This paper provides the most
comprehensive assessment to date of these issues, focusing
primarily on the developing economies. It shows that policy
reach has been limited, especially for the more vulnerable
firms and countries, and identifies mismatches between policies
provided and policies most sought. It also provides
some indicative evidence regarding mistargeting of policies
and their effectiveness in addressing liquidity constraints
and preventing layoffs. This assessment provides some early
guidance to policymakers on tailoring their COVID-19
business support packages and points to new directions in
data and research efforts needed to guide policy responses
to the current pandemic and future crises. |
|---|