The Impact of COVID-19 on Formal Firms : Evidence from Albania
The COVID19 (coronavirus) pandemic and associated containment measures are expected to cause far-reaching damage to economies around the world. Firms are suffering from reduced demand due to movement restrictions, from reduced labor supply and from...
| Main Authors: | , , , |
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| Format: | Brief |
| Language: | English |
| Published: |
World Bank, Washington, DC
2020
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/171421598009517372/The-Impact-of-COVID-19-on-Formal-Firms-Evidence-from-Albania http://hdl.handle.net/10986/34392 |
| Summary: | The COVID19 (coronavirus) pandemic and
associated containment measures are expected to cause
far-reaching damage to economies around the world. Firms are
suffering from reduced demand due to movement restrictions,
from reduced labor supply and from constraints to sourcing
material inputs. The breakup of otherwise healthy businesses
in response to a temporary shock implies large social costs.
Governments are therefore intent on designing emergency
policies to keep businesses afloat. The authors present
simulations using firm-level tax records from Albania, which
vary the duration of the lockdown and the relative impact
across sectors. |
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