Damaged by the Disaster : The Impact of COVID-19 on Firms in South Asia
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 t...
| Main Authors: | , , |
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| Format: | Working Paper |
| Language: | English |
| Published: |
World Bank, Washington, DC
2021
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/559681617116428612/Damaged-by-the-Disaster-The-Impact-of-COVID-19-on-Firms-in-South-Asia http://hdl.handle.net/10986/35357 |
| Summary: | 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. |
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