Productivity in the Time of COVID-19 : Evidence from East Asia and Pacific

Firms in the East Asia and Pacific (EAP) region have been hit hard by the COVID-19 (coronavirus) pandemic, with dramatic and widespread falls in sales and employment. Firm sales in some EAP countries were 38 to 58 percent lower in April or May 2020...

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Main Authors:	De Nicola, Francesca, Mattoo, Aaditya, Timmis, Jonathan, Tran, Trang Thu
Format:	Brief
Language:	English
Published:	World Bank, Washington, DC 2021
Subjects:	SMALL AND MEDIUM-SIZED ENTERPRISES MICROENTERPRISES FIRM PRODUCTIVITY CORONAVIRUS COVID-19 PANDEMIC IMPACT ECONOMIC SHOCK EMPLOYMENT SALES REVENUE PANDEMIC RESPONSE GOVERNMENT SUPPORT
Online Access:	http://documents.worldbank.org/curated/en/577501619186435038/Productivity-in-the-Time-of-COVID-19-Evidence-from-East-Asia-and-Pacific http://hdl.handle.net/10986/35528

id	okr-10986-35528
recordtype	oai_dc
spelling	okr-10986-355282021-06-14T09:53:05Z Productivity in the Time of COVID-19 : Evidence from East Asia and Pacific De Nicola, Francesca Mattoo, Aaditya Timmis, Jonathan Tran, Trang Thu SMALL AND MEDIUM-SIZED ENTERPRISES MICROENTERPRISES FIRM PRODUCTIVITY CORONAVIRUS COVID-19 PANDEMIC IMPACT ECONOMIC SHOCK EMPLOYMENT SALES REVENUE PANDEMIC RESPONSE GOVERNMENT SUPPORT Firms in the East Asia and Pacific (EAP) region have been hit hard by the COVID-19 (coronavirus) pandemic, with dramatic and widespread falls in sales and employment. Firm sales in some EAP countries were 38 to 58 percent lower in April or May 2020, compared to the same month in the previous year. Small and medium-sized enterprises (SMEs) have been particularly affected. The pandemic will have a lasting impact on productivity growth as firm indebtedness and increased uncertainty inhibit investment, and firm closures and unemployment lead to a loss of valuable intangible assets. Support for firms is needed but must be based as far as possible on objective criteria, related not only to past performance or current pain but to the potential for firms, including new firms, to thrive in the future. To avoid unduly prolonging assistance, governments should build exit strategies into the design of support measures and commit to phasing support out by linking it to observable macroeconomic indicators of recovery. 2021-04-29T20:10:00Z 2021-04-29T20:10:00Z 2021-04-26 Brief http://documents.worldbank.org/curated/en/577501619186435038/Productivity-in-the-Time-of-COVID-19-Evidence-from-East-Asia-and-Pacific http://hdl.handle.net/10986/35528 English Research and Policy Brief;No. 46 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Brief East Asia and Pacific East Asia Oceania
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	SMALL AND MEDIUM-SIZED ENTERPRISES MICROENTERPRISES FIRM PRODUCTIVITY CORONAVIRUS COVID-19 PANDEMIC IMPACT ECONOMIC SHOCK EMPLOYMENT SALES REVENUE PANDEMIC RESPONSE GOVERNMENT SUPPORT
spellingShingle	SMALL AND MEDIUM-SIZED ENTERPRISES MICROENTERPRISES FIRM PRODUCTIVITY CORONAVIRUS COVID-19 PANDEMIC IMPACT ECONOMIC SHOCK EMPLOYMENT SALES REVENUE PANDEMIC RESPONSE GOVERNMENT SUPPORT De Nicola, Francesca Mattoo, Aaditya Timmis, Jonathan Tran, Trang Thu Productivity in the Time of COVID-19 : Evidence from East Asia and Pacific
geographic_facet	East Asia and Pacific East Asia Oceania
relation	Research and Policy Brief;No. 46
description	Firms in the East Asia and Pacific (EAP) region have been hit hard by the COVID-19 (coronavirus) pandemic, with dramatic and widespread falls in sales and employment. Firm sales in some EAP countries were 38 to 58 percent lower in April or May 2020, compared to the same month in the previous year. Small and medium-sized enterprises (SMEs) have been particularly affected. The pandemic will have a lasting impact on productivity growth as firm indebtedness and increased uncertainty inhibit investment, and firm closures and unemployment lead to a loss of valuable intangible assets. Support for firms is needed but must be based as far as possible on objective criteria, related not only to past performance or current pain but to the potential for firms, including new firms, to thrive in the future. To avoid unduly prolonging assistance, governments should build exit strategies into the design of support measures and commit to phasing support out by linking it to observable macroeconomic indicators of recovery.
format	Brief
author	De Nicola, Francesca Mattoo, Aaditya Timmis, Jonathan Tran, Trang Thu
author_facet	De Nicola, Francesca Mattoo, Aaditya Timmis, Jonathan Tran, Trang Thu
author_sort	De Nicola, Francesca
title	Productivity in the Time of COVID-19 : Evidence from East Asia and Pacific
title_short	Productivity in the Time of COVID-19 : Evidence from East Asia and Pacific
title_full	Productivity in the Time of COVID-19 : Evidence from East Asia and Pacific
title_fullStr	Productivity in the Time of COVID-19 : Evidence from East Asia and Pacific
title_full_unstemmed	Productivity in the Time of COVID-19 : Evidence from East Asia and Pacific
title_sort	productivity in the time of covid-19 : evidence from east asia and pacific
publisher	World Bank, Washington, DC
publishDate	2021
url	http://documents.worldbank.org/curated/en/577501619186435038/Productivity-in-the-Time-of-COVID-19-Evidence-from-East-Asia-and-Pacific http://hdl.handle.net/10986/35528
_version_	1764483220174274560

Productivity in the Time of COVID-19 : Evidence from East Asia and Pacific

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