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Digitalization and resilience

Alexander Copestake, Julia Estefania-Flores and Davide Furceri
Authors registered in the RePEc Author Service: Julia Estefania Flores

Research Policy, 2024, vol. 53, issue 3

Abstract: This paper investigates the role of digitalization in improving economic resilience. Using balance sheet data from 24,000 firms in 75 countries, and a difference-in-differences approach, we find that firms in industries that are more digitalized experience lower revenue losses following recessions. Early data since the outbreak of the COVID-19 pandemic suggest an even larger effect during the resulting recessions. These results are robust across a wide range of digitalization measures—such as ICT input and employment shares, robot usage, online sales, intangible assets and digital skills listed on online profiles—and several alternative specifications.

Keywords: Resilience; Digitalization; Recessions; Firms; Local projection (search for similar items in EconPapers)
JEL-codes: E22 E32 G39 O33 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:respol:v:53:y:2024:i:3:s0048733323002329

DOI: 10.1016/j.respol.2023.104948

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