The Impact of the Covid-19 Pandemic on the Non-financial Corporate Sector in Slovenia

Biswajit Banerjee (bisban50@gmail.com) and Jelena Ćirjaković
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Biswajit Banerjee: Ashoka University; National Bank of Slovakia
Jelena Ćirjaković: Bank of Slovenia

No 108, Working Papers from Ashoka University, Department of Economics

Abstract: Using annual firm-level data for Slovenia, this paper examines the impact of the Covid-19 pandemic on firm exit, sales, employment and take-up of different types of government financing support. The outcomes in the pandemic year are compared with those in the pre-Covid and post-Covid periods. The firm exit rate did not increase during the pandemic period. The process of cleansing out of less productive firms was still at work during the pandemic but did not intensify. Small and young firms were not impacted disproportionately more from the pandemic shock compared to the pre-Covid period. Government financing support had a strong positive effect on facilitating employment growth. Such support went to firms with greater need. There was little evidence of misallocation of resources towards zombie firms and low productivity firms.

Keywords: COVID-19; Firm; exit; FTE; employment; government; financing; support; sales; outcome (search for similar items in EconPapers)
Pages: 58
Date: 2023-11-13
New Economics Papers: this item is included in nep-ent, nep-sbm and nep-tra
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Persistent link: https://EconPapers.repec.org/RePEc:ash:wpaper:108

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