 Socioeconomic resilience during the COVID-19 pandemic. The role of industrial capabilitiesAlejandro Lavopa and Carolina Donnelly Structural Change and Economic Dynamics, 2023, vol. 67, issue C, 44-57 Abstract: The socioeconomic impact of COVID-19 has been widely uneven across regions and countries, reflecting underlying differences in their resilience against shocks. This paper tries to explain this heterogeneity by identifying factors of resilience and vulnerability. To fully capture the impact of the crisis on economic activity, we propose a novel index of GDP loss that measures both the initial shock and recovery rate at the country level. With a dataset of 125 countries, we implement cross-sectional regression techniques to estimate the impact of pandemic-specific and structural factors on the index. The focus of the analysis is placed on a dimension that was not sufficiently explored yet in the specialized literature: the role of industrial capabilities. Results show that industrial capabilities were crucial in supporting countries’ ability to absorb and resist the global shock. The paper thus provides new empirical evidence on the role played by manufacturing industries in strengthening resilience to face unexpected events. Keywords: COVID-19; Manufacturing; Resilience; Industrial capabilities (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:streco:v:67:y:2023:i:c:p:44-57 DOI: 10.1016/j.strueco.2023.06.004 Access Statistics for this article Structural Change and Economic Dynamics is currently edited by F. Duchin, H. Hagemann, M. Landesmann, R. Scazzieri, A. Steenge and B. Verspagen More articles in Structural Change and Economic Dynamics from Elsevier |
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