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Survival of Firms during Economic Crisis

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dc.contributor.authorBosio, Erica
dc.contributor.authorDjankov, Simeon
dc.contributor.authorJolevski, Filip
dc.contributor.authorRamalho, Rita
dc.date.accessioned2020-05-14T20:26:03Z
dc.date.available2020-05-14T20:26:03Z
dc.date.issued2020-05
dc.description.abstractThis paper estimates the survival time of nearly 7,000 firms in a dozen high-income and middle-income countries in a scenario of extreme economic distress, using the World Bank's Enterprises Surveys. Under the assumption that firms have no incoming revenues and cover only fixed costs, the median survival time across industries ranges within 8 to 19 weeks, while on average firms have liquidity to survive between 12 and 38 weeks. Schumpeter's theory of creative destruction is not corroborated in the data, as potential exit is not predicated on the size of firms, their age, or their productivity.en
dc.identifierhttp://documents.worldbank.org/curated/en/140091589221773664/Survival-of-Firms-during-Economic-Crisis
dc.identifier.doi10.1596/1813-9450-9239
dc.identifier.urihttps://hdl.handle.net/10986/33751
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 9239
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectECONOMIC CRISIS
dc.subjectFIRM SURVIVAL
dc.subjectFIRM EXIT
dc.subjectCREATIVE DESTRUCTION
dc.subjectECONOMIC DISTRESS
dc.subjectSURVIVAL TIME
dc.subjectENTERPRISE SURVEY
dc.subjectFIRM HYBERNATION
dc.titleSurvival of Firms during Economic Crisisen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titleSurvival of Firms during Economic Crisis
okr.date.disclosure2020-05-11
okr.doctypePublications & Research
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://documents.worldbank.org/curated/en/140091589221773664/Survival-of-Firms-during-Economic-Crisis
okr.guid140091589221773664
okr.identifier.doi10.1596/1813-9450-9239
okr.identifier.externaldocumentum090224b08790593f_1_0
okr.identifier.internaldocumentum32025987
okr.identifier.reportWPS9239
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/140091589221773664/pdf/Survival-of-Firms-during-Economic-Crisis.pdfen
okr.statistics.combined4690
okr.statistics.dr140091589221773664
okr.statistics.drstats1573
okr.topicFinance and Financial Sector Development::Bankruptcy and Resolution of Financial Distress
okr.topicMacroeconomics and Economic Growth::Business Cycles and Stabilization Policies
okr.topicMacroeconomics and Economic Growth::Economic Conditions and Volatility
okr.topicPrivate Sector Development::Private Sector Economics
okr.unitGlobal Indicators Group, Development Economics Vice-Presidency
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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