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

• Author: OECD.
• Place / Publishing House: Paris : : OECD Publishing,, 2021.; Ã2021.
• Year of Publication: 2021
• Edition: 1st ed.
• Language: English
• Physical Description: 1 online resource (178 pages)

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.

Table of Contents

Intro -- Foreword -- Acknowledgements -- Acronyms, abbreviations and units of measure -- Executive summary -- 1 Economic resilience during crisis: Opportunities and challenges from COVID-19 -- Introduction -- Roadmap for this publication -- What made the difference? A summary of factors affecting resilience during COVID-19 -- Policy recommendations -- Business dynamics and financial vulnerability (Chapter 4) -- Supporting productivity through digital technologies (Chapter 5) -- Industrial and international connectedness (Chapter 6) -- Inclusiveness across gender and skill groups (Chapter 7) -- Looking forward -- From cyclical to structural policies -- A focus on the green and digital transitions -- Looking to supply-side measures -- Supporting skills and human capital -- References -- Notes -- 2 Context of the crisis -- Introduction -- Containment measures in response to COVID-19 -- Support measures in response to containment responses -- Economic consequences -- References -- Notes -- 3 Resilience across industries -- Introduction -- Ability to produce and supply in the short run -- Essential industries -- Ability to work remotely -- Ability to supply remotely -- Potential supply chain disruptions -- Indirect demand implications -- Cyclicality of demand -- Destination of industry output -- Liquidity and credit constraints -- Short-term liquidity needs: Cash conversion cycle -- Longer-term borrowing constraints and the tangibility of assets -- Conclusions and policy implications -- References -- Notes -- 4 Business dynamics and financial vulnerabilities -- Introduction -- Initial impacts of the COVID-19 pandemic on firm entry and bankruptcies -- Firm entry -- Bankruptcies and financial distress -- Business dynamics -- Aggregate firm age and firm size structure -- COVID-19 and long-term declines in business dynamism.

Corporate financial vulnerability -- Conclusions and policy implications -- References -- Notes -- 5 Supporting productivity through digital technologies -- Introduction -- Adoption of telework -- Pre-crisis experience with working from home -- Broadband infrastructure as a necessary condition for connectivity and remote working -- Digital skills of the population -- E-commerce and the pre-existing use of digital tools -- Share of firms with online sales -- Share of population making online purchases -- Uptake of cloud computing -- Productivity during COVID-19 and beyond -- Implications of the COVID-19 crisis for productivity -- Pre-existing divides across sectors and firms -- Conclusions and policy implications -- References -- Notes -- 6 Industrial and international connectedness -- Introduction -- Global value chain exposure and centrality -- Industry composition and the structure of demand -- Air transport -- Tourism -- Conclusions and policy implications -- References -- Notes -- 7 Inclusiveness across gender and skill groups -- Introduction -- Gender differences in exposure to employment effects -- Potential labour demand impacts -- Factors affecting female labour supply: Household demographic structure and childcare -- Skills and education differences in exposure to employment effects -- Conclusion and policy implications -- References -- Notes -- Annex A. Industry dashboard -- Essential industries -- Non-essential, high telework potential -- Non-essential, low telework potential -- References -- Notes -- Annex B. Industry composition by country -- Reference -- Annex C. Industry classification -- Annex D. Examples of government support measures -- Pre-existing government schemes to support workers -- Policies enacted to support firms -- References -- Notes.