Publication:
Globally Engaged Firms in the COVID-19 Crisis

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dc.contributor.authorConstantinescu, Cristina
dc.contributor.authorFernandes, Ana Margarida
dc.contributor.authorGrover, Arti
dc.contributor.authorPoupakis, Stavros
dc.contributor.authorReyes, Santiago
dc.date.accessioned2022-04-07T15:25:32Z
dc.date.available2022-04-07T15:25:32Z
dc.date.issued2022-04
dc.description.abstractThis paper analyzes the initial impact and recovery of globally engaged firms from the COVID-19 crisis. It uses rich survey data of nearly 65,000 firm-year observations in 45 countries spanning three waves of data collection. The findings are organized in a series of stylized facts, which suggest that although the pandemic had an immediate adverse impact on most firms, the globally engaged ones are recovering faster, possibly due to their higher capabilities. Among globally engaged firms, those directly involved with international markets show better recovery than the ones that were indirectly involved. These results mask wide variation by firm traits, sectoral attributes, and country characteristics. At the core of the recovery of globally engaged firms is their heightened response to the crisis by finding novel ways to adapt supply chains even in the presence of lockdowns and uncertainty. These firms swiftly digitalized, introduced new products and changed their markets and sources of inputs. Over and above their capabilities, global engagement cushions firms against shocks. Policymakers could therefore facilitate global linkages by providing information on potential markets and products, by making production flexible in terms of facilitating remote work, reducing the rigidity of contracts; and incentivizing financial institutions to issue instruments that reduce uncertainty risk.en
dc.identifierhttp://documents.worldbank.org/curated/en/099358404042267302/IDU0ee5e862a091220479d0ab0a016c582c2bd2a
dc.identifier.doi10.1596/1813-9450-9991
dc.identifier.urihttps://hdl.handle.net/10986/37272
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;9991
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectGLOBAL VALUE CHAINS
dc.subjectCOVID-19
dc.subjectPANDEMIC IMPACT ON FIRMS
dc.subjectCORONAVIRUS
dc.subjectTRADE
dc.subjectEXPORT
dc.subjectCOVID IMPACT ON EXPORTERS
dc.subjectRECOVERY
dc.subjectBUSINESS DISRUPTION
dc.subjectSUPPLY CHAIN DISRUPTION
dc.subjectGLOBALLY ENGAGED FIRMS
dc.titleGlobally Engaged Firms in the COVID-19 Crisisen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titleGlobally Engaged Firms in the COVID-19 Crisis
okr.date.disclosure2022-04-04
okr.date.doiregistration2025-04-10T10:23:37.195520Z
okr.date.lastmodified2022-04-04T00:00:00Zen
okr.doctypePolicy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/099358404042267302/IDU0ee5e862a091220479d0ab0a016c582c2bd2a
okr.guid099358404042267302
okr.identifier.doi10.1596/1813-9450-9991
okr.identifier.externaldocumentum33778501
okr.identifier.internaldocumentum33778501
okr.identifier.reportWPS9991
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099358404042267302/pdf/IDU0ee5e862a091220479d0ab0a016c582c2bd2a.pdfen
okr.topicMacroeconomics and Economic Growth::Business Cycles and Stabilization Policies
okr.topicTransport::Transport and Trade Logistics
okr.topicInternational Economics and Trade::International Trade and Trade Rules
okr.topicInternational Economics and Trade::Trade and Transport
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