Strengthening Economic Resilience Following the COVID-19 Crisis
A Firm and Industry Perspective
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.
It takes an analytical forward-looking perspective, considering a broad collection
of indicators and evidence to guide policies. The aspects covered centre around topics
of business dynamics; productivity; innovation and digital technologies; interconnectedness;
inclusiveness; and skills.
The report incorporates both a short-term perspective – analysing the supply restrictions
and lockdowns that have characterised containment responses – and a medium- to long-term
view, focusing on changes in demand that have arisen through recessionary effects
and changes in preferences.
The purpose of this publication is to provide insights to policy makers in three ways.
First, by providing an overview of the different channels through which the crisis
has affected firms differently across industries; then, by identifying country characteristics
which may mediate these channels and mitigate or amplify the impacts of this and future
shocks on the economy; and finally, by exploring systematic differences in the impact
across population subgroups and the implications for policy.
Published on July 13, 2021Also available in: French