Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/264159 
Year of Publication: 
2022
Series/Report no.: 
ADBI Working Paper No. 1299
Publisher: 
Asian Development Bank Institute (ADBI), Tokyo
Abstract: 
This study empirically investigated the factors affecting firms' ability to adjust production in response to the COVID-19 outbreak. This study used firm-level survey data from the Enterprise Survey implemented by the World Bank Group, including a standard Enterprise Survey (Baseline) and two waves of Follow-up Surveys conducted in 2020 and 2021, which included questions related to COVID-19 and firm behavior during the pandemic. We used data from four CAREC member countries: Azerbaijan, Georgia, Kazakhstan, and Mongolia. Using a probit model, we studied how different factors, including firm characteristics and government policy, affected the probability that a firm would be able to adjust its activities to the changed conditions. The results showed that firms which successfully adapted to the COVID-19 crisis were younger, foreign firms that had been innovative in the recent past, with female managers, a formal firm strategy with key performance indicators, and their own website.
Subjects: 
COVID-19
micro
small and medium enterprises (MSMEs)
digitalization
adaptation
Central Asia
Caucasus
JEL: 
D22
J63
L25
O53
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Working Paper

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