This paper examines whether the economic crisis induced by the COVID-19 pandemic exhibits a Schumpeterian “cleansing” of less productive firms. Using firm-level data for 31 economies, the study finds that less productive firms have a higher probability of permanently closing during the crisis, suggesting that the process of cleansing out unproductive arrangements may be at work. The paper also uncovers a strong and negative relationship between firm...
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2021/05/24
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Documento de trabalho sobre pesquisa de políticas
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WPS9671
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1
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1
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2021/05/24
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Disclosed
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Productivity and Firm Exit during the COVID-19 Crisis : Cross-Country Evidence
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female-owned business
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