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Regional and sectorial impacts of the Covid‐19 crisis: Evidence from electronic payments

Bruno P. Carvalho, Susana Peralta and João Pereira Dos Santos ()

Journal of Regional Science, 2022, vol. 62, issue 3, 757-798

Abstract: We use novel and comprehensive monthly data on electronic payments, by municipality and sector, together with cash withdrawals, to study the impact of Covid‐19 in Portugal. Our difference‐in‐differences event study identifies a causal decrease of 17 and 40 percentage points on the year‐on‐year growth rate of overall purchases in March and April 2020. We document a stronger impact of the crisis in more central and more urban municipalities, due to a combination of the sectorial composition effect of the local economy and the sharper confinement behavioral effect in these locations. We discuss the importance of tourism for the results.

Date: 2022
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Working Paper: Regional and Sectorial Impacts of the Covid-19 Crisis: Evidence from Electronic Payments (2020) Downloads
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