Digitalization and Resilience: Firm-level Evidence During the COVID-19 Pandemic

Digitalization and Resilience: Firm-level Evidence During the COVID-19 Pandemic PDF

Author: Nordine Abidi

Publisher: International Monetary Fund

Published: 2022-02-18

Total Pages: 42

ISBN-13:

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The COVID-19 pandemic has resulted in an unprecedented shock to firms with adverse consequences for existing productive capacities. At the same time, digitalization has increasingly been touted as a key pathway for mitigating economic losses from the pandemic, and we expect firms facing digital constraints to be less resilient to supply shocks. This paper uses firm-level data to investigate whether digitally-enabled firms have been able to mitigate economic losses arising from the pandemic better than digitally-constrained firms in the Middle East and Central Asia region using a difference-in-differences approach. Controlling for demand conditions, we find that digitally-enabled firms faced a lower decline in sales by about 4 percentage points during the pandemic compared to digitally-constrained firms, suggesting that digitalization acted as a hedge during the pandemic. Against this backdrop, our results suggest that policymakers need to close the digital gap and accelerate firms’ digital transformation. This will be essential for economies to bounce back from the pandemic, and build the foundations for future resilience.

Digitalization During the COVID-19 Crisis

Digitalization During the COVID-19 Crisis PDF

Author: Florence Jaumotte

Publisher: International Monetary Fund

Published: 2023-03-13

Total Pages: 56

ISBN-13:

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Digitalization induced by the pandemic was seen both as a possible silver-lining from the crisis that could increase longer-term productivity and a risk for further labor market inequality between digital and non-digital workers. The note shows that the pandemic accelerated digitalization and triggered a partial catch-up by less digitalized entities in advanced economies. Higher digitalization levels shielded substantially productivity and hours worked during the crisis. However, the extent to which the pandemic-induced digitalization led to structural change in the economy is less clear. Less digitalized sectors have rebounded more strongly, albeit after stronger declines, and while workers in digital occupations were more shielded from the crisis, there does not appear to be a structural change in the composition of labor demand. Meanwhile, shifts in labor supply are more likely to be permanent, driven by the increase in working from home.

Covid-19, Innovative Firms and Resilience

Covid-19, Innovative Firms and Resilience PDF

Author: World Intellectual Property Organization

Publisher: WIPO

Published: 2023-02-07

Total Pages: 57

ISBN-13:

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ummary This paper explores the empirical association between patents and various indicators of firm resilience during the COVID-19 pandemic with worldwide firm-level data from manufacturing industries. The study shows that patent-intensive firms have a reduced probability of exit, in particular if they are larger and if engaging with complementary investments in R&D; and other intangibles. Additional estimates show that firm productivity has been an important transmission channel. Taken together, the results presented in the paper offer evidence-based findings pointing to patents as an important potential factor contributing to firm resilience during the COVID-19 pandemic. Policy insights are discussed.

COVID-19, Innovative Firms and Resilience

COVID-19, Innovative Firms and Resilience PDF

Author: Michele Battisti

Publisher:

Published: 2023

Total Pages: 0

ISBN-13:

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This paper explores the empirical association between patents and various indicators of firm resilience during the COVID-19 pandemic with worldwide firm-level data from manufacturing industries. The study shows that patent-intensive firms have a reduced probability of exit, in particular if they are larger and if engaging with complementary investments in R&D and other intangibles. Additional estimates show that firm productivity has been an important transmission channel. Taken together, the results presented in the paper offer evidence-based findings pointing to patents as an important potential factor contributing to firm resilience during the COVID-19 pandemic. Policy insights are discussed.

Strengthening Economic Resilience Following the COVID-19 Crisis A Firm and Industry Perspective

Strengthening Economic Resilience Following the COVID-19 Crisis A Firm and Industry Perspective PDF

Author: OECD

Publisher: OECD Publishing

Published: 2021-07-13

Total Pages: 178

ISBN-13: 9264362851

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The crisis triggered by the COVID-19 pandemic has been unlike any other the world has experienced, requiring social distancing and restrictions on mobility, and rendering some economic activity impossible. This publication explores and compares the characteristics that have affected the ability of firms, workers and consumers to maintain production, employment and consumption during the COVID-19 crisis, across industries and countries.

Digital Resilience

Digital Resilience PDF

Author: Jianqiu Bai

Publisher:

Published: 2021

Total Pages:

ISBN-13:

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Digital technologies may make some tasks, jobs and firms more resilient to unanticipated shocks. We extract data from over 200 million U.S. job postings to construct an index for firms' resilience to the Covid-19 pandemic by assessing the work-from-home (WFH) feasibility of their labor demand. Using a difference-in-differences framework, we find that public firms with high pre-pandemic WFH index values had significantly higher sales, net incomes, and stock returns than their peers during the pandemic. Our results indicate that firms with higher digital resilience, as measured through our pre-pandemic WFH index, performed significantly better in general, and in non-essential industries in particular, where WFH feasibility was necessary to continue operation. The ability to use digital technologies to work remotely also mattered more in non-high-tech industries than in high-tech ones. Lastly, we find evidence that firms with lower pre-pandemic WFH feasibility attempted to catch up to their more resilient competitors via greater software investment. This is consistent with a complementarity between digital technologies and WFH practices. Our study's results are robust to a variety of empirical specifications and provide a first look at how WFH practices improved resilience to a major, unanticipated social and economic shock.

The International Encyclopedia of Communication Theory and Philosophy, 4 Volume Set

The International Encyclopedia of Communication Theory and Philosophy, 4 Volume Set PDF

Author: Jefferson D. Pooley

Publisher: John Wiley & Sons

Published: 2016-10-31

Total Pages: 2323

ISBN-13: 1118290739

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The International Encyclopedia of Communication Theory and Philosophy is the definitive single-source reference work on the subject, with state-of-the-art and in-depth scholarly reflection on key issues from leading international experts. It is available both online and in print. A state-of-the-art and in-depth scholarly reflection on the key issues raised by communication, covering the history, systematics, and practical potential of communication theory Articles by leading experts offer an unprecedented level of accuracy and balance Provides comprehensive, clear entries which are both cross-national and cross-disciplinary in nature The Encyclopedia presents a truly international perspective with authors and positions representing not just Europe and North America, but also Latin America and Asia Published both online and in print Part of The Wiley Blackwell-ICA International Encyclopedias of Communication series, published in conjunction with the International Communication Association. Online version available at Wiley Online Library

Pandemic, Lockdown, and Digital Transformation

Pandemic, Lockdown, and Digital Transformation PDF

Author: Saqib Saeed

Publisher: Springer Nature

Published: 2022-01-01

Total Pages: 207

ISBN-13: 3030862747

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This edited volume discusses digital transformation in the context of the COVID-19 pandemic. In the wake of the COVID-19 pandemic and the widespread lockdown policies that followed, digital technologies were touted as an effective means towards ensuring continuity and minimal interruption of day-to-day operations for businesses and other institutions. Digital transformation, however, is an inherently complex process and the pressure of short adoption times may further increase complexities for organizations looking to foster digital technologies. This volume comprises original research contributions on theoretical foundations and empirical studies of digital transformations in the pandemic era. Written by academics and practitioners from diverse disciplines and industries, the chapters cover topics such as psychological and technical implications of pandemic situations, the economic, organizational, social, and legal implications of digital adoption, and case studies for digital transformation in different industries. This book will be useful for academics, technology professionals, business policy makers, NGO managers, and governments looking to optimize their digital transformation processes to better prepare their organizations in the presence of pandemic situations.

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