Business dynamism during the COVID-19 pandemic: Which policies for an inclusive recovery?:
Firm entry has rebounded after the drop experienced during the first COVID-19 lockdowns of early 2020, yet the recovery in entry rates is highly heterogeneous across countries, with possible long-term implications for employment and output growth. Financial support to firms' liquidity and tempo...
Gespeichert in:
| Format: | Elektronisch E-Book |
|---|---|
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2021
|
| Schriftenreihe: | OECD Policy Responses to Coronavirus (COVID-19)
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Firm entry has rebounded after the drop experienced during the first COVID-19 lockdowns of early 2020, yet the recovery in entry rates is highly heterogeneous across countries, with possible long-term implications for employment and output growth. Financial support to firms' liquidity and temporary changes to insolvency procedures have been effective in reducing bankruptcies, on average, by more than 30% relative to the pre-pandemic period. Policy measures may have protected viable and productive firms and avoided the systemic risks posed by a wave of bankruptcies, but at the risk of potentially keeping non-viable (the so-called zombie) firms afloat. Governments should implement a balanced strategy to phase out emergency support policies and pursue a gradual approach focusing on restoring the equity of distressed firms, encouraging timely debt restructuring and improving the efficiency of liquidation procedures, with the aim of fostering resource reallocation |
| Beschreibung: | 1 Online-Ressource (20 Seiten) |
| DOI: | 10.1787/f08af011-en |
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| index_date | 2024-07-03T19:34:55Z |
| indexdate | 2024-12-18T19:02:22Z |
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| language | English |
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| series2 | OECD Policy Responses to Coronavirus (COVID-19) |
| spelling | Business dynamism during the COVID-19 pandemic: Which policies for an inclusive recovery? Organisation for Economic Co-operation and Development Paris OECD Publishing 2021 1 Online-Ressource (20 Seiten) txt rdacontent c rdamedia cr rdacarrier OECD Policy Responses to Coronavirus (COVID-19) Firm entry has rebounded after the drop experienced during the first COVID-19 lockdowns of early 2020, yet the recovery in entry rates is highly heterogeneous across countries, with possible long-term implications for employment and output growth. Financial support to firms' liquidity and temporary changes to insolvency procedures have been effective in reducing bankruptcies, on average, by more than 30% relative to the pre-pandemic period. Policy measures may have protected viable and productive firms and avoided the systemic risks posed by a wave of bankruptcies, but at the risk of potentially keeping non-viable (the so-called zombie) firms afloat. Governments should implement a balanced strategy to phase out emergency support policies and pursue a gradual approach focusing on restoring the equity of distressed firms, encouraging timely debt restructuring and improving the efficiency of liquidation procedures, with the aim of fostering resource reallocation Economics Industry and Services https://doi.org/10.1787/f08af011-en Verlag kostenfrei Volltext |
| spellingShingle | Business dynamism during the COVID-19 pandemic: Which policies for an inclusive recovery? Economics Industry and Services |
| title | Business dynamism during the COVID-19 pandemic: Which policies for an inclusive recovery? |
| title_auth | Business dynamism during the COVID-19 pandemic: Which policies for an inclusive recovery? |
| title_exact_search | Business dynamism during the COVID-19 pandemic: Which policies for an inclusive recovery? |
| title_exact_search_txtP | Business dynamism during the COVID-19 pandemic: Which policies for an inclusive recovery? |
| title_full | Business dynamism during the COVID-19 pandemic: Which policies for an inclusive recovery? Organisation for Economic Co-operation and Development |
| title_fullStr | Business dynamism during the COVID-19 pandemic: Which policies for an inclusive recovery? Organisation for Economic Co-operation and Development |
| title_full_unstemmed | Business dynamism during the COVID-19 pandemic: Which policies for an inclusive recovery? Organisation for Economic Co-operation and Development |
| title_short | Business dynamism during the COVID-19 pandemic: Which policies for an inclusive recovery? |
| title_sort | business dynamism during the covid 19 pandemic which policies for an inclusive recovery |
| topic | Economics Industry and Services |
| topic_facet | Economics Industry and Services |
| url | https://doi.org/10.1787/f08af011-en |